Prediction of Ethereum prices: the ether could plunge into the new weekly minimum



Ether's price is following a bearish pattern against the US dollar and bitcoin. ETH / USD is likely to extend losses to $ 265.00 and $ 260.00.

Key Points

The recovery of Ether from $ 269.41 has failed near key resistance against the US dollar.

C & # 39; is a declining channel in place with resistance around $ 288.00 on the 2-hour chart of the Eth / USD

ETH / BTC has extended the downturns and could test the & # 39; support area 0.0415BTC.

Technically, the 2-hour chart indicators are heavily positioned in bearish territory. [19659007] Analysis of the prices of the ether

Yesterday, there was a strong bearish reaction below the support of $ 280.00 in ETH / USD. The pair traded at a new weekly low of $ 269.41 before starting a recovery to the $ 280.00-285.00 zone.

ETH / BTC remained in a bearish zone when the pair broke 0.0430BTC support. The next important support for Ether buyers is near the 0.0415BTC level, which is a significant area of ​​rotation.

  Ether Price Analysis ETH

Looking at the 30-minute ETH / USD chart, the pair fell heavily and formed a low at $ 269.41. Subsequently, the price corrected higher and moved above the $ 275.00 level and the Fibonacci retracement level of 38.2% from the last decline from $ 303.88 up to $ 269, 41.

The price has moved above the $ 280.00 level, but has faced sellers near a downtrend line at $ 285.00 and Fibonacci's 50% retracement level of the last straw. Ether started a new downtrend and broke a bullish trend line with support for $ 281.00.

The current price action indicates that Ether's price may fall to the recent low of $ 269.41, below which the price will most likely accelerate losses to the $ 260.00 level.

  Ethereum Price ETH

Turning to the 2-hour chart of Eth / USD, the pair is following a declining channel with resistance at $ 288.00. Also, it seems that the support zone at $ 280.00-285.00 is now acting as a resistance

Therefore, the price is likely to extend losses to levels of $ 265.00 and $ 260.00. For the top, the $ 280.00, $ 285.00 and $ 288.00 levels are important barriers for buyers.

Important Strength Levels

$ 280.00 and $ 285.00

Important Support Levels

$ 270.00 and $ 262.00

2-Hour RSI [19659018] L & # 39; RSI is heading further down to level 30.

MACD to 2 hours

MACD is reporting further losses in the bearish zone

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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