RATE Group | Ethereum (ETH) Daily Price Forecast – August 7
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Ethereum (ETH) Daily Price Forecast – August 7

07 Aug Ethereum (ETH) Daily Price Forecast – August 7

Posted at 10:57h in Ethereum News by

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ETH/USD Medium-term Trend: Ranging

Resistance Levels: $410, $420, $430
Support Levels: $390, $380, $370

Yesterday, ETH price was in a bearish trend which resulted in the breaking of the range-bound zone. The downward trend continued as the price fell to the low of $404.25. However, if the bearish pressure continued price of Ethereum will reach the low of $381.25. Today, ETH price is in a sideways trend until we see a possible breakout.

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price bars of Ethereum are below the 12-day EMA and the 26-day EMA which indicates a bearish trend is ongoing. The relative strength index period 14 is level 40 which indicates that price is in the sideways trend zone.

ETH/USD Short-term Trend: Bullish

On the 1-hour chart, the price of Ethereum is in a sideways trend. The MACD line and the signal line are below the zero line which indicates a sell signal. Price of Ethereum is…

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