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Ethereum Price Forecast: Ether Presents Last Chance To Buyers

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether’s price is about to make the next significant move against the US dollar and bitcoin. This might be the last chance for ETH/USD buyers to push the price above $135.00.

Key Highlights

Ether is struggling to break key resistances near $135.00 against the US dollar.
Two crucial bearish trendlines are in place with resistance near $132.50 on the 2-hour chart of ETH/USD.
ETH/BTC is consolidating above 0.0340BTC with a few bearish signs.

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.

Ethereum Price Analysis ETH Forecast

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.

Ether Price Analysis Chart

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.

Important Resistance Levels

$133.00 and $135.00

Important Support Levels

$131.00 and $130.00

2-hour RSI

The RSI is moving lower toward the 30 level.

2-hour MACD

The MACD is gaining momentum in the bearish zone.

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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