RATE Group | Ethereum Price Forecast: Ether Faces Critical Resistance
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Ethereum Price Forecast: Ether Faces Critical Resistance

23 Jul Ethereum Price Forecast: Ether Faces Critical Resistance

Posted at 15:53h in Ethereum News by

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Ether’s price recovery remained capped against the US dollar. The decline in ETH/BTC is putting a lot of pressure on ETH/USD buyers.

Key Highlights

Ether’s price is facing a critical resistance near $470.00 against the US dollar.

A crucial range is formed with support at $455.00 and resistance at $470.00 on the 2-hour chart of ETH/USD.

ETH/BTC failed to recover further and declined sharply below 0.0600BTC.

Technically, the 2-hour chart indicators are mostly flat near midlines in the bullish territory.

Ether Price Analysis

There was a slow and steady rise in ETH/USD above the $460.00 level, but gains were capped by the $468.00 and $470.00 resistance levels. The pair is currently forming a range pattern and is preparing for the next move either above $470.00 or below $455.00.

On the other hand, ETH/BTC was not able to hold advancement above the 0.0620BTC support. It declined sharply and even broke the 0.0600BTC support. The next important support on the downside awaits at…

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