Ethereum Forecast and Analysis for August 8, 2024


Welcome Bonus 30 USD

ETH/USD are trading at 2444 and continue to move within the development of the fall and bearish channel. Moving averages indicate the presence of a short-term bearish trend for Ether. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers and a potential continuation of the asset’s fall from current levels. At the moment, we should expect an attempt to develop a bullish correction in the coin’s value and a test of the resistance level near the 2595 area. From where we should again expect a downward rebound in prices and a continuation of the fall in the Ethereum rate with a potential target below 1685.

Ethereum Forecast and Analysis for August 8, 2024

An additional signal in favor of a fall in ETH/USD quotes will be a test of the resistance line on the relative strength indicator. The second signal will be a rebound from the upper border of the bearish channel. The cancellation of the cryptocurrency fall option will be a strong increase in the Ethereum value and a breakout of the 2975 level. This will indicate a breakout of the resistance area and a continuation of the rise in ETHUSD quotes to the 3255 level. With a breakout of the support area and closing of quotes below the 2235 mark.

Ethereum Forecast and Analysis for August 8, 2024

Ethereum Forecast and Analysis for August 8, 2024 suggests an attempt at correction and a test of the resistance area near the 2595 level. Where should we expect a rebound and a continuation of the fall of the ETH/USD cryptocurrency to the area below the 1685 level. An additional signal in favor of the decline of Ethereum will be a test of the trend line on the relative strength indicator. The cancellation of the fall option of the digital currency will be a breakout of the 2975 area. Which will indicate a continuation of the rise of the digital currency with a potential target above the 3255 level.


Join our Telegram Channel


Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link

Post Comment