Ethereum Price Prediction – August 20
The Ethereum price consolidates and touches $3300 as the technical indicator Relative Strength Index (14) confirms the uptrend.
ETH/USD Market
Key Levels:
Resistance levels: $3600, $3700, $3800
Support levels: $2900, $2800, $2700
Following the dip on August 18, after touching the support at $2951, ETH/USD is now back above the 9-day and 21-day moving averages, preparing to send the price above the upper boundary of the channel. However, since the position at the vital $3300 level has been reclaimed by the bulls, the daily chart reveals that the Ethereum price has been strengthening its bullish case towards $3400. Although, the resistance at $3280 has been a hard nut to crack, and ETH/USD may need to push the market price above the channel.
Ethereum Price Prediction: Ethereum (ETH) May Recover More
At the time of trading, the Ethereum price is exchanging hands at $3269 after surging only 2.69% on the day. However, the intraday high of $3300 is now the next resistance target likely to stand in the way of the recovery to $3500. Meanwhile, the technical indicator reveals that the Relative Strength Index (14) recovers above 65-level which could hint that ETH/USD is now at the edge of a bullish breakout. Therefore, the support levels of $2900, $2800, and $2700 may come to play if the price crosses below the 9-day and 21-day MAs.
Nevertheless, ETH/USD is seen penetrating towards the upper boundary of the channel. More so, the break above this barrier is another signal needed for a bullish to press higher. More so, the Ethereum (ETH) has to break above $3500 before hitting the potential resistance levels at $3600, $3700, and $3800 respectively.
Against BTC, Ethereum is trading below the 9-day and 21-day moving averages within the channel and the price is now hovering at 6693 SAT as the Relative Strength Index (14) moves to cross below 50-level. Although the bears remain the dominant of the market while the bulls may need to break above the 9-day and 21-day moving averages to take charge.
However, the resistance levels to be reached are located at 7400 SAT and above. Conversely, a lower sustainable move below the moving averages could attract the sellers to retain the current market movement back with the next focus on 6100 SAT and below.
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Ethereum Value Prediction – August 20
The Ethereum value consolidates and touches $3300 because the technical indicator Relative Power Index (14) confirms the uptrend.
ETH/USD Market
Key Ranges:
Resistance ranges: $3600, $3700, $3800
Help ranges: $2900, $2800, $2700
Following the dip on August 18, after touching the assist at $2951, ETH/USD is now again above the 9-day and 21-day shifting averages, getting ready to ship the value above the higher boundary of the channel. Nevertheless, for the reason that place on the important $3300 degree has been reclaimed by the bulls, the day by day chart reveals that the Ethereum value has been strengthening its bullish case in the direction of $3400. Though, the resistance at $3280 has been a tough nut to crack, and ETH/USD could must push the market value above the channel.
Ethereum Value Prediction: Ethereum (ETH) Could Get well Extra
On the time of buying and selling, the Ethereum value is exchanging palms at $3269 after surging solely 2.69% on the day. Nevertheless, the intraday excessive of $3300 is now the subsequent resistance goal more likely to stand in the way in which of the restoration to $3500. In the meantime, the technical indicator reveals that the Relative Power Index (14) recovers above 65-level which might trace that ETH/USD is now on the fringe of a bullish breakout. Subsequently, the assist ranges of $2900, $2800, and $2700 could come to play if the value crosses beneath the 9-day and 21-day MAs.
Nonetheless, ETH/USD is seen penetrating in the direction of the higher boundary of the channel. Extra so, the break above this barrier is one other sign wanted for a bullish to press greater. Extra so, the Ethereum (ETH) has to interrupt above $3500 earlier than hitting the potential resistance ranges at $3600, $3700, and $3800 respectively.
Towards BTC, Ethereum is buying and selling beneath the 9-day and 21-day shifting averages inside the channel and the value is now hovering at 6693 SAT because the Relative Power Index (14) strikes to cross beneath 50-level. Though the bears stay the dominant of the market whereas the bulls might have to interrupt above the 9-day and 21-day shifting averages to take cost.
Nevertheless, the resistance ranges to be reached are positioned at 7400 SAT and above. Conversely, a decrease sustainable transfer beneath the shifting averages might appeal to the sellers to retain the present market motion again with the subsequent concentrate on 6100 SAT and beneath.
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