RATE Group | Ethereum (ETH) Price Analysis – August 29
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Ethereum (ETH) Price Analysis – August 29

29 Aug Ethereum (ETH) Price Analysis – August 29

Posted at 21:04h in Ethereum News by

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Ethereum (ETH) Price Analysis – August 29

ethereum-eth-price-analysis-august-29

  • The bulls are still in control of the short-term while the medium-term outlook is bullish.

  • Patience should be exercise trading the range.

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 sustained strong bullish pressure pushed the cryptocurrency up to $298.13 in the supply area yesterday. The bearish opening 4-hour at $295.59 dropped the ETH to $289.57 in the demand area. Rejection to further downward movement occurred as the bulls returned.

The price is above the two EMAs with the stochastic oscillator at the overbought region. This implies that bullish pressure may likely continue…

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