RATE Group | Ethereum (ETH) Daily Price Forecast – August 2
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Ethereum (ETH) Daily Price Forecast – August 2

02 Aug Ethereum (ETH) Daily Price Forecast – August 2

Posted at 12:54h in Ethereum News by

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ETH Technical Analysis: Ethereum Bulls Fading, Drops $60 in Two Weeks
cryptocurrency-event-2018

ETH/USD Medium-term Trend: Bearish

Resistance Levels: $440, $450, $460
Support Levels: $420, $410, $400

Yesterday, August 1, the price of Ethereum was in a bearish trend. The ETH price fell to the low of $409.15. This was the previous low of June 29, 2018. The bulls are in control of price and price is rising. Traders should initiate long trades at the current market price in anticipation of a bullish trend.

From the chart, 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 35 which indicates that market is oversold suggesting bulls to take control of the market.

ETH/USD Short-term Trend: Bullish

On the 1-hour chart, the ETH price is in a bullish trend. The MACD line and the signal line are below the zero line which indicates a sell signal. The price of Ethereum is neither…

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