RATE Group | Ethereum (ETH) Price Analysis – August 30
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Ethereum (ETH) Price Analysis – August 30

30 Aug Ethereum (ETH) Price Analysis – August 30

Posted at 20:28h in Ethereum News by

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Ethereum (ETH) Price Analysis – August 30

ethereum-eth-price-analysis-august-30

  • The medium-term outlook is ranging while the short-term outlook is in a bullish trend.

  • Patience should be exercised trading the consolidation for a breakout or a breakdown to happen before taking a 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 bullish pressure was weak within the range after pushing the cryptocurrency up to  $297.36 in the supply area. The bears returned and pushed the price down to $284.34 in the demand area.

The bearish 4-hour opening candle at $288.75 sustained the bears’ pressure and price was down to $280.31 in the demand area.

The price is below…

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