RATE Group | Ethereum (ETH) Price Analysis – August 23
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Ethereum (ETH) Price Analysis – August 23

23 Aug Ethereum (ETH) Price Analysis – August 23

Posted at 21:33h in Ethereum News by

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Ethereum (ETH) Price Analysis – August 23

ethereum-eth-price-analysis-august-23

  • The medium and short-term outlook remains in consolidation.

  • Traders should patiently wait for a breakout or breakdown before taking position

Ethereum, ETHUSD, Cryptocurrencies, chartEthereum Chart by TradingView

Ethereum Price Medium-term Trend: Ranging

Supply zones: $400, $450, $500

Demand zones: $150, $100, $50

ETH continues ranging in the medium-term outlook. The strong bearish pressure was sustained leading to further drop in the Ethereum price to $259.20 in the lower demand area before the close of yesterdays market.

The bulls gradually gathered momentum within the demand area as indicated by the hammer and the bullish 4-hour opening candle at $270.50. Price was up $275.49 in the supply area with potential to make new highs as the bullish pressure increases…

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