RATE Group | Ethereum Price Forecast: Ether Eyes Next Break
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Ethereum Price Forecast: Ether Eyes Next Break

06 Aug Ethereum Price Forecast: Ether Eyes Next Break

Posted at 15:36h in Ethereum News by

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Ether’s price is preparing for the next break against the US dollar. ETH/USD could either fall below the $400.00 support or move above $412.00-420.00 to gain bullish momentum.

Key Highlights

Ether’s price failed to gain strength above $413.00 and declined against the US dollar.

A major bearish trendline is in place with resistance at $412.00 on the 2-hour chart of ETH/USD.

ETH/BTC is holding gains above 0.0580BTC and it could slowly move toward 0.0600BTC.

Technically, the 30-minute chart indicators are moving lower in the bearish territory.

Ether Price Analysis

There was an upward move above the $410.00 level in ETH/USD. However, the pair failed to hold gains, formed an intraday high at $413.17, and finally declined back below $410.00.

On the other hand, ETH/BTC mostly traded in a range above the 0.0580BTC level. The pair is facing an uphill task near the 0.0600BTC resistance where sellers may possibly emerge.

Ether Price Analysis Chart

Starting with the 30-minute chart of ETH/USD, the pair moved nicely…

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