Ethereum ETH Back On Track Race, Will ETH Reclaim $2,000 again?
2022年8月25日 - 08:00PM
NEWSBTC
Ethereum ETH price regained its bullish trend against Tether (USDT)
as it builds more strength to break above the key resistance ahead
of “The Merge.” ETH price saw a rejection to a region of $1,500
recently as it could not hold its bullish trendline acting as
support. (Data from Binance) Related Reading: Shiba Inu Burn Events
Spark A Rally In Altcoin Over The Past Weeks Ethereum ETH Price
Analysis On The Weekly Chart From the chart, the price of ETH saw
its price rejected to a region of $1,540 on the weekly chart as the
price was unable to hold $1,700 and the trendline acting as support
for ETH price. ETH weekly candle closed with a bearish
sentiment, with the new week’s candle looking bullish for price
recovery. The price has continued to gain traction,
outperforming Bitcoin’s (BTC) as ETH price shows strength, trying
to flip resistance into support for the price to trend higher. If
the price of ETH on the weekly chart maintains this structure, it
could quickly trend higher to a region of $1,800, acting as the
weekly resistance for the price. To avoid falling below, the price
of ETH needs to hold this support zone at $1,700. Weekly resistance
for the price of ETH – $1,800. Weekly support for the price of ETH
– $1,700, $1,600. Price Analysis Of ETH On The Daily (1D) Chart
With more buy orders, the price of ETH would continue to trend to
the upside after forming support above the uptrend line holding ETH
price. ETH holding its price above this trendline will help it
trend higher. To confirm the bullish sentiment of ETH, the price
bounced with good buy volume after seeing a retracement below its
rising wedge. The price of ETH has shown a bullish structure
after breaking out, forming a bullish trend; if bulls step in, the
price of ETH could trend higher to a region of $1,800-$2,000 acting
as key resistance on the daily timeframe. ETH is currently trading
at $1,703, just above the 50 Exponential Moving Average (EMA),
which corresponds to a price of $1,650 acting as support for ETH.
On the daily chart, the Relative Strength Index (RSI) for the price
of ETH is above 50, indicating more buy orders. Daily (1D)
resistance for ETH price – $1,800-$2,000. Daily (1D) support for
ETH price – $1,650. Price Analysis Of Ethereum On The Four-Hourly
(4H) Chart The price of ETH has continued to show a bullish trend
holding above the 50 and 200 EMA prices, which correspond to $1,690
and $1,670, acting as support respectively to the ETH price. ETH
needs to hold above the 50 and 200 EMA to continue its bullish
sentiment; if ETH fails to hold, the prices of $1,690 and $1,670
will act as support levels. The price of ETH respects the
uptrend line formed by prices as the trendline acts as support in
case the 50 and 200 EMA can not hold the price of ETH during a
sell-off. Four-Hourly (4H) resistance for ETH price –
$1,800-$2,000. Four-Hourly (4H) support for ETH price –
$1,690-$1,670. Related Reading: AVA Price Predictions Following
Travala Demand Boom Featured Image From zipmex, Charts From
TradingView.com
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