Relevance up to 17:00 2022-08-26 UTC+2
Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Red line- resistance trend line
Blue lines- trading range
Green line- short-term support trend line
Since the recent low on August 21st around $1,524, Ethereum bounced towards $1,665 but remains trapped inside a trading range with no real progress. The sharp decline from $2,030 ended at $1,524 but price shows no sign of strength for a big bounce higher. Short-term support is found at $1,630, by the green upward sloping trend line. Resistance is at $1,665 by the upper boundary of the trading range. Ethereum is expected to make another move lower at least towards $1,550.I do not expect Ethereum to move higher than $1,750 at this point in time.
Source: Forex Analysis & Reviews: Ethereum continues moving sideways
