RATE Group | Ethereum Price Forecast: Ether Could Dip To New Weekly Low
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Ethereum Price Forecast: Ether Could Dip To New Weekly Low

21 Aug Ethereum Price Forecast: Ether Could Dip To New Weekly Low

Posted at 15:39h in Ethereum News by

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Ether’s price is following a bearish pattern against the US dollar and bitcoin. ETH/USD is likely to extend losses toward the $265.00 and $260.00 levels.

Key Highlights

Ether’s recovery from the $269.41 low failed near key resistances against the US dollar.

There is a declining channel in place with resistance near $288.00 on the 2-hour chart of ETH/USD.

ETH/BTC extended declines and could test the 0.0415BTC support area.

Technically, the 2-hour chart indicators are placed heavily in the bearish territory.

Ether Price Analysis

Yesterday, there was a major bearish reaction below the $280.00 support in ETH/USD. The pair traded to a new weekly low at $269.41 before starting a recovery back toward the $280.00-285.00 zone.

ETH/BTC remained in a bearish zone as the pair broke the 0.0430BTC support. The next major support for Ether buyers is near the 0.0415BTC level, which is a significant pivot zone.

Ether Price Analysis ETH

Looking at the 30-minute chart of ETH/USD, the pair declined heavily and formed a low…

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