RATE Group | Ethereum Price Forecast: Ether Testing Important Support
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Ethereum Price Forecast: Ether Testing Important Support

03 Oct Ethereum Price Forecast: Ether Testing Important Support

Posted at 16:24h in Ethereum News by

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Ether’s price traded to new weekly lows against the US dollar and bitcoin. ETH/USD must hold the $215.00 support to recover in the coming sessions.

Key Highlights

Ether’s price declined below the $220.00 support against the US dollar.

ETH/USD is trading near a significant support area at $215.00-218.00 on the 6-hour chart.

ETH/BTC failed to break the 0.0350BTC resistance and declined recently.

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

Ether Price Analysis

After a long struggle to settle above the $230.00 and $235.00 resistance levels, ETH/USD reacted to the downside. The pair declined and broke a couple of key supports near $222.00 and $220.00.

ETH/BTC also struggled to gain bullish momentum above 0.0350BTC. The pair moved below 0.0340BTC and could test the next major support at 0.0320BTC in the short term.

Ethereum Price Forecast ETH

Starting with the 6-hour chart of ETH/USD, the pair failed to break the previous important support-turned-resistance at…

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