RATE Group | Ethereum Price Forecast: Ether Nosedives To $250, Turns Bearish
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Ethereum Price Forecast: Ether Nosedives To $250, Turns Bearish

05 Sep Ethereum Price Forecast: Ether Nosedives To $250, Turns Bearish

Posted at 17:53h in Ethereum News by

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September 5, 2018 3:13 PM

Ether’s price fell significantly against the US dollar and bitcoin. ETH/USD is back in a bearish zone and remains at a risk for more losses below $250.00.

Key Highlights

Ether failed to capitalize on the recent gains and declined sharply below $270.00 against the US dollar.

ETH/USD broke a significant triangle pattern with support at $275.00 on the 12-hour chart.

ETH/BTC also dropped hard and traded below the 0.0380BTC support.

Technically, the 12-hour chart indicators are accelerating lower in the bearish territory.

Ether Price Analysis

This week, we discussed a possible upward move in ETH/USD toward the $300.00 resistance. However, it seems like Ether buyers struggled to clear the $290.00 resistance, resulting in a sharp downward move below $280.00 and $270.00.

More importantly, there were further losses in ETH/BTC below the 0.0400BTC level. The pair surpassed the 0.0380TBTC support, opening the gates for a test of 0.0350BTC.

Ether Price Analysis ETH

Starting with the 2-hour…

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