Prediction of Ethereum prices: Ether Bearish under key supports



Ether price action is pointing to a bearish bias against the US dollar and bitcoin. The ETH / USD has stabilized below $ 280.00, which is a strong bearish signal

Key Points

Ether has reversed all its earnings and broke the $ 280.00 and $ 270.00 against the US dollar.

A crucial bearish trend line is positioned with resistance at $ 290.00 on the 2-hour chart of the Eth / USD

ETH / BTC is struggling to recover and could extend its decline towards 0.0415BTC .

Technically, the 30-minute chart indicators signal a range model in bullish territory.

Analysis of the prices of the ether

Yesterday we discussed a possible false break above the level of $ 290.00 in ETH / USD. The couple made a reversal and reversed all their earnings to settle below a major support for $ 280.00.

ETH / BTC is under a lot of pressure below the 0.0440BTC support. The pair could perhaps extend its decline to 0.0415BTC, below which Ether will probably test the 0.0400BTC level.

  Chart of the analysis of the price of the ether

Starting from the 30-minute chart of the ETH / USD, there was a strong decline from the resistance zone $ 298.00-300, 00. The pair fell and broke the support level of $ 280.00 to trade below the last minimum of $ 270.00. A new weekly minimum has been formed at $ 259.56; later, the price corrected some points.

However, the move to the top has been limited, and the price of Ether is following a bearish trendline with resistance at $ 275.00 on the same chart. There should be a bullish break above $ 275.00, the next resistance is $ 280.00 and $ 290.00.

  Ethereum Price ETH Forecast

On the downside, initial support waits for $ 268.00, below which the price could test the recent low near $ 260.00. Turning to the 2-hour chart of Eth / USD, the pair is clearly falling from the low of $ 321.12 and may fall below the $ 268.00 short-term pivot.

At the top, the $ 280.00 resistance and a bearish trendline with resistance at $ 290.00 are key barriers for Ether buyers. Only an adequate break above these resistances followed by a close above $ 300.00 could result in further increases in ETH / USD.

30-minute MACD

The MACD is showing negative signs in the bearish zone.

30 minutes RSI

The RSI is currently well below the 50 level.

Important support levels

$ 268.00 and $ 260.00

Important resistance levels

$ 280.00 and $ 290.00

Aayush spent over seven years as a contributor and observer. He specialized in market strategies and technical analysis. It strives to provide entertaining and informative analyzes on the currency and commodity markets. He is a software engineer by profession and loves blogs.

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