RATE Group | Ethereum Price Forecast: Ether At Risk Of More Declines
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Ethereum Price Forecast: Ether At Risk Of More Declines

07 Sep Ethereum Price Forecast: Ether At Risk Of More Declines

Posted at 22:49h in Ethereum News by

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September 7, 2018 3:14 PM

Ether’s price is struggling to recover against the US dollar and bitcoin. ETH/USD remains at risk of more losses below the $211.00 support.

Key Highlights

Ether corrected higher but faced a strong resistance near $232.00 against the US dollar.

ETH/USD is forming a range with support at $210.00 and resistance near $235.00 on the 2-hour chart.

ETH/BTC is currently consolidating below the 0.0360BTC resistance level.

Technically, the 2-hour chart indicators are accelerating lower in the bearish territory.

Ether Price Analysis

There was a short-term correction initiated in ETH/USD from the $211.61 low. The pair traded above the $220.00 and $230.00 levels, but it failed to hold gains above the $232.00 resistance and declined.

Similarly, ETH/BTC corrected a few points, but buyers did not succeed in pushing the price above the 0.0350BTC and 0.0360BTC resistance levels. It could continue to trade in a range above 0.0330BTC and prepare for the next move in the…

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