RATE Group | Ethereum Price Forecast: Ether Holding Crucial Support
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Ethereum Price Forecast: Ether Holding Crucial Support

26 Apr Ethereum Price Forecast: Ether Holding Crucial Support

Posted at 20:50h in Ethereum News by

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Ether’s price is trading above key support levels against the US dollar and bitcoin. ETH/USD is showing signs of a recovery above $620.00.

Key Highlights

Ether’s price is holding a crucial support at $600.00 against the US dollar.

ETH/USD broke a connecting bearish trendline with resistance at $626.00 on the 30-minute chart.

ETH/BTC recovered from the 0.0680BTC support area and moved above 0.0700BTC.

Technically, the 12-hour chart indicators are stable in the bullish territory.

Can ETH/USD Bounce Back?

Yesterday, we discussed the importance of a daily close above the $600.00 support. ETH/USD held that support and is currently showing signs of a recovery.

Similarly, downsides in ETH/BTC were limited by the 0.0680BTC support. The pair started a fresh upward wave and move back above 0.0700BTC, which is a positive sign.

Ethereum Price ETH/USD Forecast

To understand the current price structure and importance of the $600.00 support, let’s start with the 12-hour chart of ETH/USD. The chart indicates that a crucial…

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