RATE Group | Ethereum Price Weekly Forecast: ETH Could Rally Again
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Ethereum Price Weekly Forecast: ETH Could Rally Again

03 Nov Ethereum Price Weekly Forecast: ETH Could Rally Again

Posted at 06:12h in Ethereum News by

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  • ETH price found support near the $178 zone and is correcting higher against the US Dollar.
  • The price is currently consolidating above the $180 support area, with a few positive signs.
  • There is a major bullish trend line forming with support near $182 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair remains well supported on the downside near the $182, $180 and $178 levels.

Ethereum price is likely to climb above the $185 resistance against the US Dollar, while consolidating vs bitcoin. ETH price must stay above $178 to resume its upward move.

Ethereum Price Weekly Analysis

This past week, Ethereum started a downside correction below the $188 and $185 supports against the US Dollar. Moreover, ETH traded below the $182 and $180 support levels.

However, the $178 support area (the previous resistance) acted as a strong support. Besides, the price managed to stay above the $175 pivot and the 100 simple moving average (4-hours).

As a result, the price started a slow rise above…

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