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Price analysis of Ethereum (ETH) – August 30
ethereum-eth-price-analysis-august-30 [19659004] The medium-term outlook is variable, while the short-term outlook is in an upward trend.
Chart Ethereum of TradingView
Mid-term price of the price of Ethereum:
Supply Zones: $ 400, $ 450, $ 500
Demand Zones : $ 150, $ 100, $ 50
ETH continues to change the medium-term perspective. The bullish pressure was weak in the interval after pushing the cryptocurrency up to $ 297.36 in the supply area. Bears came back and pushed the price to $ 284.34 in the demand area
The 4-hour downward spark plug at $ 288.75 supported bear pressure and the price fell to $ 280.31 in the demand area.
The price is under the two EMAs with the 45% stochastic oscillator and its signal points downwards. This implies that some downward pressure may occur in the medium term.
The cryptocurrency remains in the range and trades between $ 310.00 in the upper supply area and $ 260.00 in the lower demand area of the segment. Patience should be exercised for a breakout or break that occurs before taking a position.
Short-term trend in the price of Ethereum: bullish
Ethereum Chart by TradingView
ETH remains in its upward trend in the short-term outlook. The pressure of the bears led to the fall of the cryptocurrency to $ 280.31 in the demand area. This was the 61.8 degree level of trend inversion. A bullish pinbar has been formed indicating the return of the bulls.
The stochastic oscillator is in the 18% oversold region with signal not yet active. This can happen with the increase of the bullish momentum. The price could reach the target of $ 300.00 in the short-term supply area.
The opinions and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your research.
