RATE Group | Ethereum Price Forecast: Ether Likely To Break Higher
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Ethereum Price Forecast: Ether Likely To Break Higher

04 Aug Ethereum Price Forecast: Ether Likely To Break Higher

Posted at 14:46h in Ethereum News by

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Ether’s price is correcting higher against the US dollar and bitcoin. ETH/USD could revisit the $450.00 hurdle if it clears the $420.00 resistance.

Key Highlights

Ether’s price recovered nicely and briefly broke the $415.00 resistance against the US dollar.

The previous support near $450.00 is likely to be next crucial resistance on the 6-hour chart of ETH/USD.

ETH/BTC is slowly moving higher and could trade toward 0.0570BTC in the near term.

Technically, the hourly chart indicators moved back in the bullish territory with positive signs.

Ether Price Analysis

Yesterday, ETH/USD traded to a new multi-month low at $397.79 before starting an upward move. The pair broke the $409.00 and $415.00 resistances to move into a short-term bullish zone.

ETH/BTC also traded a few points higher and is currently positioned nicely above 0.0550BTC. Should the pair continue to trade higher, it may test the 0.0570BTC and 0.0580BTC resistances.

Ether Price Analysis ETH Chart

Looking at the hourly chart of ETH/USD, the pair formed…

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