RATE Group | Ethereum (ETH) Daily Price Forecast – August 16
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Ethereum (ETH) Daily Price Forecast – August 16

16 Aug Ethereum (ETH) Daily Price Forecast – August 16

Posted at 11:40h in Ethereum News by

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ETH/USD Medium-term Trend: Ranging

Resistance Levels: $290, $300, $310
Support Levels: $270, $260, $250

Yesterday, August 15th, the ETH price was in a bullish trend. The cryptocurrency rose from the low of $258.60 in a bullish trend to the high of $303.86. However, the bullish movement was interrupted by the bears and price fell to the low of $287.26. Today, the price of Ethereum is still falling. The cryptocurrency is in a sideways trend and probably will revisit the previous low of $250.

Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of ETH is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The Relative Strength Index period 14 is level 42 which indicates that price is in the sideways trend zone.

ETH/USD Short-term Trend: Ranging

On the 1-hour chart, the ETH price is in a sideways trend. The ETH price is in a sideways trend after its fall from the $300 price…

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