RATE Group | Ethereum Price Forecast: Ether Tumbles, More Losses Likely
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Ethereum Price Forecast: Ether Tumbles, More Losses Likely

11 Oct Ethereum Price Forecast: Ether Tumbles, More Losses Likely

Posted at 18:41h in Ethereum News by

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Ether’s price tumbled below key supports against the US dollar and bitcoin. ETH/USD is likely to extend declines if there is a daily close below $200.00.

Key Highlights

Ether’s price broke to the downside and traded below key supports near $223.00 against the US dollar.

ETH/USD settled below a significant bullish trendline with support at $225.00 on the 12-hour chart.

ETH/BTC also declined and traded toward the 0.0320BTC support level.

Technically, the 12-hour chart indicators moved down sharply in the bearish territory.

Ether Price Analysis

Yesterday, we discussed that ETH/USD is at a significant turning point near the $223.00 support. The pair failed to hold the support and declined heavily below the $220.00 and $210.00 levels.

ETH/BTC also started a downside correction below the 0.0340BTC support. The pair tested the 0.0320BTC support level and is currently consolidating losses.

Ethereum Price Analysis ETH

Starting with the 12-hour chart of ETH/USD, the pair clearly struggled to settle above $230.00 and…

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