RATE Group | Ethereum Price Forecast: Ether Targets Additional Weakness
51389
wp-singular,post-template-default,single,single-post,postid-51389,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Ethereum Price Forecast: Ether Targets Additional Weakness

03 Dec Ethereum Price Forecast: Ether Targets Additional Weakness

Posted at 22:20h in Ethereum News by

[ad_1]

Ether’s price is poised to extend declines against the US dollar. ETH/USD could trade lower sharply if there is a successful break below $111.00.

Key Highlights

Ether’s price is following a bearish path below the $120.00 resistance against the US dollar.

Two bearish trendlines in place with resistance near $120.00 on the 2-hour chart of ETH/USD.

ETH/BTC is currently trading in a tight range above the 0.0280BTC support.

Technically, the 2-hour chart indicators are moving lower in the bearish territory.

Ether Price Analysis

After forming a short term top at $126.78, ETH/USD started a downward move. The pair broke the $120.00 and $115.00 support levels and now it is struggling to stay above the $111.00-112.00 support zone.

ETH/BTC recovered recently and moved back above the 0.0280BTC support. However, the pair seems to be finding hard to climb above the 0.0284BTC and 0.0285BTC resistance, which may result in a bearish reaction.

Ethereum Price Analysis ETH

Looking at the 2-hour chart of ETH/USD, the pair…

[ad_2]

Source link