RATE Group | Ethereum Price Forecast: Is This A False Bullish Break In Ether?
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Ethereum Price Forecast: Is This A False Bullish Break In Ether?

22 Aug Ethereum Price Forecast: Is This A False Bullish Break In Ether?

Posted at 16:04h in Ethereum News by

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Ether’s price was rejected near the $300.00 resistance against the US dollar. ETH/USD must stay above the $282.00 and $280.00 supports to climb higher.

Key Highlights

Ether spiked higher recently and tested the $300.00 resistance zone against the US dollar.

ETH/USD traded above a crucial bearish trendline on the 2-hour chart but it failed to hold gains above $290.00.

ETH/BTC is slowly moving lower and is likely to test the 0.0415BTC support area.

Technically, the 2-hour chart indicators are currently near midlines in the bullish territory.

Ether Price Analysis

There was a decent support formed near the $269.00-270.00 zone in ETH/USD, resulting in a sharp upward move. ETH/USD climbed above the $290.00 resistance zone, but buyers were unsuccessful in clearing the $300.00 hurdle.

ETH/BTC traded below the 0.0450BTC support and is currently trading in a range. It seems like the price may continue to move down toward the 0.0415BTC support.

Ethereum Price ETH Analysis

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

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