RATE Group | Ethereum Price Forecast: Ether At Potentially Major Turning Point
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Ethereum Price Forecast: Ether At Potentially Major Turning Point

10 Oct Ethereum Price Forecast: Ether At Potentially Major Turning Point

Posted at 23:19h in Ethereum News by

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Ether’s price is slowly losing steam against the US dollar and bitcoin. ETH/USD must stay above $223.00 to recover toward $230.00 in the near term.

Key Highlights

Ether’s price corrected lower and traded toward the $223.00 support against the US dollar.

ETH/USD managed to stay above a crucial bullish trendline, with support at $223.00-225.00 on the 6-hour chart.

ETH/BTC is showing a few bearish signs below the 0.0350BTC resistance.

Technically, the 6-hour chart indicators moved down into bearish territory.

Ether Price Analysis

There were further losses noted in ETH/USD below the $230.00 level. The pair even broke the key $225.00 support and traded as low as $223.51 before recovering a few points.

ETH/BTC did not move much, but there are a few negative signs emerging below 0.0348BTC and 0.0350BTC. If sellers push the pair below 0.0340BTC, there could be a fresh downside correction.

Ethereum Price Analysis ETH

Let’s start with the 6-hour chart of ETH/USD to understand the importance of the $223.00-225.00…

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