Ethereum (ETH) Prediction for August 23

08/23/2024 22:42
Ethereum (ETH) Prediction for August 23

When can traders expect increased volatility from Ethereum (ETH)?

Original U.Today article

Ethereum (ETH) Prediction for August 23

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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Buyers are trying to hold the initiative, according to CoinMarketCap.

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Top coins by CoinMarketCap

ETH/USD

The rate of Ethereum (ETH) has risen by 1.81% over the past 24 hours.

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Image by TradingView

On the hourly chart, the price of ETH is in the middle of the local channel. As most of the daily ATR has been passed, there are low chances to expect any sharp moves by the end of the day.

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Image by TradingView

On the bigger time frame, the rate of the main altcoin is neither bearish nor bullish. As none of the sides is dominating, ongoing sideways trading in the narrow area of $2,600-$2,700 is the more likely scenario.

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Image by TradingView

From the midterm point of view, one should pay attention to the nearest resistance level of $2,724.

Related

Cardano (ADA) Prediction for August 22

If it breaks out, the accumulated energy might be enough for a test of the $2,800-$2,900 area before the end of the month.

Ethereum is trading at $2,659 at press time.

About the author

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].

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