RATE Group | Ethereum Price Forecast: Ether At Make-Or-Break Levels
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Ethereum Price Forecast: Ether At Make-Or-Break Levels

05 Aug Ethereum Price Forecast: Ether At Make-Or-Break Levels

Posted at 14:10h in Ethereum News by

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Ether’s price is holding key supports against the US dollar and bitcoin. However, ETH/USD remains at a risk of more declines as long as it is below $420.00 and $450.00.

Key Highlights

Ether buyers are putting up a strong fight to hold the $400.00 support against the US dollar.

A significant bearish trendline is formed with resistance at $450.00 on the daily chart of ETH/USD.

ETH/BTC recovered and moved above the 0.0570BTC and 0.0580BTC resistances.

Technically, the daily chart indicators are placed heavily in the bearish territory.

Ether Price Weekly Analysis

This past week, there was a sharp increase in selling pressure on Ether. ETH/USD declined below the $450.00 and $420.00 support levels and even spiked below the $400.00 handle before starting a consolidation phase.

Similarly, there were heavy losses in ETH/BTC. The pair traded a few points below the 0.0550BTC support before recovering above 0.0580BTC. It may perhaps trade in a range below 0.0600BTC before making the next…

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