E Point Perfect – Interesting and beneficial content
Crypto

Ethereum (ETH) Price Analysis for August 4

[ad_1]

Bulls could not hold the gained initiative for a long time, and most of the coins are again in the red zone.

Top coins by CoinMarketCap

ETH/USD

Ethereum (ETH) has followed the fall of Bitcoin (BTC), going down by 2.79%.

ETH/USD chart by TradingView

On the daily chart, Ethereum (ETH) has continued yesterday’s fall against the declining volume. At the moment, the price is approaching the $1,600 mark, the breakout of which may lead to the test of the interim local level at $1,550. Such a scenario is relevant until the end of the week.

ETH/USD chart by TradingView

On the weekly time frame, the leading altcoin might not have accumulated enough power for the midterm bull run. A continued rise is possible only if the price returns to the resistance level at $1,785.

ETH/USD chart by TradingView

From the local point of view, Ethereum (ETH) has made a false breakout of the level at $1,634. If the candle closes below the $1,607 mark, one can expect a sharp drop to $1,580 soon.

Ethereum is trading at $1,608 at press time.

[ad_2]

Source link

Related posts

Cardano (ADA) Developer Reveals True Reason Why HBAR Has 59 Million Transactions

Cardano Network Activity Spikes on FTX Crash, Here’s Detailed Insight

Cardano DEX, Djed Stablecoin Builder Hint at Major Announcement

Doge Founder Tells Charles Hoskinson Why He Shouldn’t Worry About Attacks Against Cardano

ETH and XRP Price Analysis for November 21

ADA and BNB Price Analysis for October 3