RATE Group | Ethereum Price Likely To Slide Further Toward 0.040BTC
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Ethereum Price Likely To Slide Further Toward 0.040BTC

24 Aug Ethereum Price Likely To Slide Further Toward 0.040BTC

Posted at 00:36h in Ethereum News by

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ethereum

Bitcasino

Ethereum price remained in a bearish zone below 0.0470BTC against bitcoin. ETH/BTC is most likely to extend losses towards the 0.0400BTC level.

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Important points

  • Ethereum’s correction was limited as sellers appeared near 0.0470BTC and 0.0480BTC versus bitcoin.
  • There are two bearish trend lines in place with resistance near 0.0430BTC and 0.0438BTC on the 2-hours chart of ETH/BTC.
  • The price is currently under a lot of pressure and remains at a risk below 0.0415BTC in the near term.

Ethereum price analysis (ETH/BTC)

In the last analysis, we discussed that there could be a tiny recovery in Ethereum above the 0.0450BTC, but upsides are likely to be capped. ETH to BTC did move higher, but it faced a strong resistance near the 0.0480BTC level.

The 2-hours chart of ETH/BTC is under a lot of pressure after buyers failed to push the price above the 0.0480BTC-0.0490BTC resistance zone. A fresh downside move was initiated and the price tumbled below the 0.0450BTC and…

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