RATE Group | Ethereum Price Forecast: Ether Breaches Key Supports
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Ethereum Price Forecast: Ether Breaches Key Supports

31 Jul Ethereum Price Forecast: Ether Breaches Key Supports

Posted at 22:13h in Ethereum News by

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Ether’s price is under heavy selling pressure against the US dollar and bitcoin. ETH/USD is likely to extend the current decline toward the $425.00 support.

Key Highlights

Ether’s price failed to stay above the $455.00 support and declined heavily against the US dollar.

ETH/USD broke a crucial bullish trendline with support at $460.00 on the 12-hour chart.

ETH/BTC is trading lower toward an important support at 0.0550BTC.

Technically, the 12-hour chart indicators are signaling an increase in the bearish momentum.

Ether Price Analysis

Yesterday, we discussed an important support at $455.00 for ETH/USD. The pair failed to recover and declined below the $455.00 and $440.00 support levels to move into a bearish zone.

ETH/BTC also faced an increased selling pressure and declined below 0.0560BTC. It seems like the pair may perhaps extend the current decline toward a key support at 0.0550BTC.

Ethereum Price Forecast ETH

Starting with the 12-hour chart of ETH/USD, the pair failed to break a significant bearish…

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