RATE Group | Ethereum (ETH) Price Analysis – August 9
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Ethereum (ETH) Price Analysis – August 9

09 Aug Ethereum (ETH) Price Analysis – August 9

Posted at 15:50h in Ethereum News by

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Ethereum (ETH) Price Analysis – August 9

ethereum-eth-price-analysis-august-9

  • The medium-term outlook is in consolidation while the short-term is bullish

  • Patience is advised in trading the consolidation for a breakout to the upside or breakdown to the downside 

Ethereum, ETHUSD, Cryptocurrencies, chartEthereum Chart by TradingView

Ethereum Price Medium-term Trend: Ranging

Supply zones: $500, $550, $600

Demand zones: $200, $150, $100

ETH returns to the range in the medium-term outlook. The bearish momentum was sustained until the price was down to $346.35 in the demand area.

The opening 4-hour candle at $355.63 was bullish and the cryptocurrency was up at $363.15 in the supply area earlier today.

The stochastic oscillator is in the oversold region at 17% and its signal is parallel which reflects the consolidation scenario that is currently…

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