RATE Group | Ethereum Price Forecast: Ether Remains A Sell
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Ethereum Price Forecast: Ether Remains A Sell

24 Nov Ethereum Price Forecast: Ether Remains A Sell

Posted at 14:31h in Ethereum News by

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November 24, 2018 2:20 PM

Ether’s price remains in a strong downtrend against the US dollar and bitcoin. ETH/USD could correct higher, but it is likely to struggle near $127.00 and $130.00.

Key Highlights

Ether’s price found support near $120.00 and started a short-term rebound against the US dollar.

ETH/USD broke a connecting bearish trendline with resistance at $123.00 on the hourly chart of ETH/USD.

ETH/BTC extended losses and traded below the 0.0285BTC support level.

Technically, the hourly chart indicators are slowly recovering in the bearish territory.

Ether Price Analysis

Recently, there was another test of the $120.00 support in ETH/USD. Buyers defended further losses and the pair started a short-term correction above the $121.00 and $122.00 levels.

ETH/BTC is currently under a lot of pressure below the 0.0300BTC support. The pair recently broke the 0.0285BTC support and traded toward the 0.0280BTC level. On the upside, resistances are at 0.0288BTC and 0.0292BTC.

Ether Price Analysis ETH

Starting…

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