Categories: Ethereum

Ethereum Price Forecast: Ether Presents Last Chance To Buyers

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Key Highlights

Technically, the 6-hour chart indicators are moving lower in bearish territory.

Ether Price Analysis (ETH)

In the past few sessions, ETH/USD struggled to break key resistances near $134.00 and $135.00. The pair declined steadily and is now approaching a couple of important supports, below which it could turn bearish in the near term.

ETH/BTC declined steadily and broke the 0.0342BTC support level. The pair is currently consolidating near the 0.0340BTC support, below which there is a risk of a sharp drop to 0.0335BTC or 0.0332BTC.

Looking at the 2-hour chart of ETH/USD, the pair clearly failed to climb above the $135.00 resistance area. Ether declined steadily after it was rejected near $135.00, and it seems to be following a bearish path. On the downside, the $130.00 and $131.00 levels are important supports.

Should Ether break the $130.00 support area, there could be a solid increase in selling pressure in the near term. To the topside, there are two crucial bearish trendlines in place, with resistance near $132.50 on the same chart.

A successful close above the trendlines and $133.00 may push the price toward the key $135.00 resistance. It could even increase chances of a break above the $135.00 and $136.00 resistance levels.

Moving down to the 30-minute chart of ETH/USD, the pair recently tested the $131.00 support level. It seems to be struggling near a bearish trendline at $132.20. The next major hurdles for Ether buyers are near $133.00 and $133.50.

Overall, Ether’s price is facing many hurdles on the upside, such as $132.50, $133.00, and $135.00. If ETH buyers continue to struggle, there is a risk of a sharp bearish wave below $130.00 in the coming sessions.

Aayush Jindal

Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis. He strives to provide entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession and loves blogging.

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The content on ETHNews.com is provided for informational purposes only and it is not intended to be, and does not, constitute financial advice or any other advice. You should not rely on any ETHNews.com content to make an investment decision. ETHNews.com is not responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions.

Technically, the 6-hour chart indicators are moving lower in bearish territory. Ether Price Analysis (ETH)

In the past few sessions, ETH/USD struggled to break key resistances near […]

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