RATE Group | Ethereum Price Forecast: Ether At Risk Of Bearish Reaction
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Ethereum Price Forecast: Ether At Risk Of Bearish Reaction

01 Oct Ethereum Price Forecast: Ether At Risk Of Bearish Reaction

Posted at 15:30h in Ethereum News by

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Ether’s price is struggling to gain bullish momentum against the US dollar and bitcoin. ETH/USD could correct lower toward $220.00 in the short term.

Key Highlights

Ether’s price failed to settle above the $235.0 resistance against the US dollar.

A major support is formed near $220.00 on the 2-hour chart of ETH/USD.

ETH/BTC is slowly correcting lower toward the 0.0340BTC support.

Technically, the 2-hour chart indicators are moving lower toward midlines in the bullish territory.

Ether Price Analysis

There was an upward move in ETH/USD above the $235.00 resistance. However, the pair failed to gain momentum, resulting in yet another rejection near the $235.00-236.00 area.

Similarly, ETH/BTC started a fresh downside correction and declined below 0.0350BTC. It may continue to move down toward the 0.0340BTC and 0.0335BTC support levels in the coming sessions.

Ethereum Price Analysis ETH

Starting with the 2-hour chart of ETH/USD, the pair traded to a new weekly high at $238.59 and later started a downward move….

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