Prediction of Ethereum prices: Ether Vulnerable Below $ 200

9 September 2018 2:53 PM

Key Points

Ether broke and broke the important support of $ 200.00 against the US dollar.

ETH / USD broke a fundamental support pennant at $ 270.00 on the daily chart.

ETH / BTC tested the 0.0300BTC support and remains at risk of further decreases.

Technically, the daily chart indicators are approaching oversold levels.

Ether Price Weekly Analysis

In the last two analyzes, we discussed that ETH / USD could extend falls below the minimum of $ 211.61 and $ 200.00. The pair moved down, broke the major support of $ 200.00 and traded at a new annual low of $ 185.11.

Likewise, there were heavy losses in ETH / BTC below the 0.0340BTC support. The pair even broke the 0.0320BTC support and tested the 0.0300BTC area. The next key support is near 0.0265BTC.

Looking at the daily chart of Eth / USD, there are many bearish signals visible from the low of $ 515.09. The pair remained in decline in August 2018 and stood below the support level of $ 300.00.

Next, the pair formed a crucial bearish pennant model with support for $ 270.00, which was surpassed earlier this month to open the door for further declines. [19659010] The price of Ether fell below the psychological support of $ 200.00, moving further into a bearish zone. If sellers remain in control in the coming days, there may be further declines to support levels of $ 170.00 and $ 160.00.

For the upper side, there is a significant bearish trend line in place with resistance at $ 250.00 on the same chart. A successful close above the trend line and the rotation zone of $ 270.00 is required for Ether to initiate a decent recovery.

In the short term, the 2-hour chart of the ETH / USD indicates that the support before $ 210.00 can very well act as solid resistance. There is also a bearish trend line in place with resistance close to $ 212.00.

Overall, Ether remains in a strong downward trend under $ 200.00, and any recovery could meet selling interest close to $ 210.00, $ 212.00, $ 230.00 and $ 250.00 resistance. Important supports under the recent minimum are $ 170.00, $ 160.00 and $ 150.00.

Aayush spent over seven years as a contributor and observer of the financial markets. 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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