RATE Group | Ethereum Price Forecast: Ether’s Decline Not Over
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Ethereum Price Forecast: Ether’s Decline Not Over

14 Aug Ethereum Price Forecast: Ether’s Decline Not Over

Posted at 22:01h in Ethereum News by

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Ether’s price tumbled below key supports against the US dollar and bitcoin. ETH/USD could extend the current downtrend toward the $210.00 support zone.

Key Highlights

Ether’s price settled below the $300.00 support and dropped to $250.00 against the US dollar.

ETH/USD broke a crucial declining channel with resistance near $280.00 on the 12-hour chart.

ETH/BTC declined more than 12% and traded below the 0.0480BTC and 0.0450BTC supports.

Technically, the 12-hour chart indicators are moving lower into the oversold region in the bearish territory.

Ether Price Analysis

Yesterday, we discussed the importance of the $300.00 support area for ETH/USD. The pair failed to stay above the $300.00-305.00 support area, resulting in a sharp downward move below the $280.00 and $260.00 levels.

ETH/BTC also tumbled and broke the 0.0480BTC and 0.0450BTC support levels to register one of the biggest monthly losses in 2018. The next major support awaits near the 0.0415BTC level.

Ethereum Price Analysis ETH

Let’s analyze the…

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