RATE Group | Ethereum Price Weekly Forecast: ETH Bulls Facing Uphill Task
56000
wp-singular,post-template-default,single,single-post,postid-56000,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Ethereum Price Weekly Forecast: ETH Bulls Facing Uphill Task

28 Jul Ethereum Price Weekly Forecast: ETH Bulls Facing Uphill Task

Posted at 05:53h in Ethereum News by

[ad_1]

  • ETH price remained supported above the $200 level and recovered slightly support against the US Dollar.
  • The price climbed above $220, but it faced a strong resistance near the $225 level.
  • Earlier, there was a break above a major bearish trend line with resistance near $212 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair is currently at a risk of more losses unless it climbs above the $225 and $235 resistances.

Ethereum price is showing signs of weakness against the US Dollar and bitcoin. ETH price is likely to break the $200 support if it continues to struggle near $225.

Ethereum Price Weekly Analysis

This past week, there was a short term recovery in bitcoin and Ethereum against the US Dollar. The ETH/USD pair formed a decent support base near the $200 level and later started an upside correction. It traded above the $210 and $215 resistance levels. Moreover, there was a break above the 23.6% Fib retracement level of the downward move from the $279 high to $191…

[ad_2]

Source link