RATE Group | Ethereum Price Forecast: Ether’s Breakdown Reaches Key Support
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Ethereum Price Forecast: Ether’s Breakdown Reaches Key Support

29 Sep Ethereum Price Forecast: Ether’s Breakdown Reaches Key Support

Posted at 15:38h in Ethereum News by

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September 29, 2018 2:47 PM

Ether’s price trimmed its gains against the US dollar while correcting slightly versus bitcoin. ETH/USD must stay above the $215.00 and $210.00 supports to recover in the short term.

Key Highlights

Ether’s price declined sharply and tested the $215.00 support area against the US dollar.

A double top pattern is formed at $234.00 on the hourly chart of ETH/USD.

ETH/BTC is currently correcting lower toward the 0.0320BTC support.

Technically, the hourly chart indicators moved back sharply into the bullish territory.

Ether Price Analysis

Yesterday, we discussed that the next move in ETH/USD could be either above $234.00 or toward $215.00. The pair failed to break the $234.00 resistance, resulting in a bearish reaction toward the $215.00 support.

ETH/BTC also failed to move past the 0.0340BTC resistance. The pair started a downside correction, and it seems like the pair may test the next support at 0.0320BTC in the coming sessions.

Ethereum Ether Price Analysis ETH

Starting with the hourly…

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