#Ethereum Price Forecast: Ether Consolidating Above Key Supports

October 18, 2018

 

Ether’s price is consolidating above key supports against the US dollar and bitcoin. ETH/USD is facing many hurdles near the $213.00 and $215.00 levels.

 

Technically, the 2-hour chart indicators are slowly moving in the bearish territory. During the past few sessions, ETH/USD traded in a range below the $220.00 resistance, with a slight bearish angle. The pair dipped toward the $208.00 support and formed a new intraday low at $207.50.ETH/BTC traded in a tight range above the 0.0310BTC support. Buyers seem to be facing a lot of obstacles on the upside near the 0.0318BTC and 0.0320BTC, which could result in an extended decline toward 0.0300BTC. Starting with the 30-minute chart of ETH/USD, the pair recently struggled to settle above the $212.00-213.00 region. Later, there was a downward move and the price broke a bullish trendline at $211.00 and the $210.00 support.There was a spike below the $208.00-208.50 support and the price traded as low as $207.50. Ether recovered above $208.50 and it is currently consolidating around $210.00. Should there be an upward move above $210.00, the price could test the $213.00 resistance.

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