Ether has been consistently falling. It has touched down the $ 600 mark once again as well. As a result, it was not able to find significant support at around $ 600 mark. This is a clear indication that it is in the bearish territory.
Ether price analysis:
The fall below $ 600 is an indication that there is no buying at the lower levels. The next support which is present for Ether is around $ 550. This clearly indicates that it can fall even for more.
When you compare ETH/BTC, you will realize that it is trading around 0.0800 BTC. It can easily correct 0.0750 BTC. This is the support level which is next. As a result, it can again fall significantly.
When you look at the 6-hour chart of Ethereum, you will realize that it has broken a very strong support of $ 650 and thereafter, it has moved below $ 600 as well. This clearly indicates that it will be able to now see some buying only around $ 540 or $ 550.
Also, it will be closing below $ 650 today and as a result, the bearish trend will be confirmed as well. As a result, it will struggle around the resistances now of around $ 640 to $ 650. It will continue in the bearish territory for even a longer period of time.
Also, there is a trend line around $ 650 which is showing a clear resistance as well. As a result, even if it is able to go to $ 650, the gains are not significant. It can at the most rise to $ 695.
When you look at the 30-minute chart, you will realize that there is some kind of base formation around $ 550. Anything close about $ 600 can result in Ethereum moving to around $ 650. On the other hand, if indeed, it breaks $ 550, it can head to $ 500 easily.
Thus, if you’re looking to invest in Ethereum, now might be a good time to avoid the investment. It is in the bearish territory and it can easily fall even more. As a result, you will not be able to make any kind of profit in your investment. It will be a good idea to invest only after it forms the base. This will ensure that Ethereum will be on the rise once again rather than consistently falling and breaking supports. Tags: ethereum price predictions 2020, ethereum price predictions 2018, litecoin price predictions, ethereum predictions 2018, bitcoin price predictions 2018, ethereum price prediction 2025, ethereum price speculation, ethereum price prediction reddit