RATE Group | Ethereum Price Forecast: Ether Poised To Break The Recent Range
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Ethereum Price Forecast: Ether Poised To Break The Recent Range

07 Oct Ethereum Price Forecast: Ether Poised To Break The Recent Range

Posted at 15:59h in Ethereum News by

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Ether’s price is poised to break the recent range against the US dollar. ETH/USD could surge toward $250.00 after it breaks the $230.00 resistance.

Key Highlights

Ether’s price is holding key supports above the $220.00 level against the US dollar.

ETH/USD may soon break a significant symmetric triangle, with resistance at $230.00 on the 12-hour chart.

ETH/BTC needs to surpass the 0.0350BTC resistance for more gains in the near term.

Technically, the 12-hour chart indicators are currently flat above midlines in the bullish territory.

Ether Price Weekly Analysis

During the past few days, ETH/USD mostly traded in a broad range above the $200.00 pivot level. There were several lower highs and higher lows formed, indicating a breakout pattern.

ETH/BTC also moved higher and settled above the 0.0340BTC support. The pair could continue to move higher toward the 0.0350BTC resistance in the short term.

Ethereum Price Analysis ETH

Let’s start with the 12-hour chart of ETH/USD to understand the current range pattern…

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