TA- Ethereum Price struggles To Breakout

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,234,846,058,882	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,234,846,058,882

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-516.02	-0.81%	63,223.01	63,225.84	63,228.22

Price Change

Price Change %

Current Price

Bid Price

Offer

-516.02

-0.81%

63,223.01

63,225.84

63,228.22

High Price	Low Price	Open Price	Prev. Close	52 Week Range
63,900.00	62,445.06	63,748.82	63,739.03	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

63,900.00

62,445.06

63,748.82

63,739.03

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	18:43:07	0.00000257	63,225.13	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

18:43:07

0.00000257

63,225.13

USD

Price x Volume	Volume	Base Symbol	Related Pairs
307,063,718.14	4,875.86	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

307,063,718.14

4,875.86

TA- Ethereum Price struggles To Breakout – Eyes $2,000

08/08/2022 1:00pm

NEWSBTC

The price of Ethereum (ETH) has struggled to break out of a range against Tether (USDT) after being rejected from key resistance. Ethereum price has seen a relief bounce, with Bitcoin (BTC) rallying after closing the weekly candle with bullish sentiment from a daily low of $23,000 to a region of $24,100 in the early hours. (Data feeds from Binance) Related Reading: TA: Bitcoin Price Could Rally If There Is A Close Above This Key Resistance Price Analysis Of ETH On The Weekly Chart Ethereum’s price saw a weekly close of around $1,720, with a new candle opening bullish ahead of the week. The price has built more momentum as it faces resistance at $2,400. If the price of ETH on the weekly chart continues with this bullish structure, it could quickly hit the $2,000 mark ahead of its merge. Weekly resistance for ETH price – $2,400. Weekly support for ETH price – $1,012. Price Analysis Of ETH On The Daily (1D) Chart The price of ETH found strong support at around $1,580, with what seems to be an area of interest on the daily chart. ETH has continued to range in a channel where it has struggled to break out, ranging between $1,580 – $1,720. At the point of writing, the price of ETH is at $1,774, trading above the 50 exponential moving averages (EMA), which corresponds to the support at $1,536. ETH price would find support at $1,536, which corresponds with the daily 50 EMA if it drops due to sell-offs. If the 50 EMA region fails to hold the price, $1,362 would be a good support to hold sell-offs and for a possible bounce of ETH price. With more buy bids, we could see the price of ETH retesting at $2,000 -$2,400, which has been resistance on the daily chart. The RSI for ETH price on the daily chart is above 60, indicating healthy buy bids for ETH. The volume for ETH looks good, indicating positive signs for ETH prices to trend higher. Daily (1D) resistance for ETH price – $2,400. Daily (1D) support for ETH price – $1,536, $1,362. Price Analysis Of ETH On The Four-Hourly (4H) Chart The price of ETH has shown a bullish continuation on the 4H chart after bouncing off from the support at $1,600. ETH price has struggled in this region, forming a ranging channel on the 4H chart after a rejection at $1,740 due to sell-offs. The current price is $1,770, trading above the 50 & 200 EMA with prices of $1,660 and $1,530 on the 4H chart. These prices would act as support areas for ETH on the 4H chart. The price of ETH is trying to break out of the channel; with good buy bids, the price of ETH could push to $2,000 -$2,400. Four-Hour (4H) resistance for ETH price – $2,400. Four-Hour (4h) support for ETH price – $1,660, $1,530. A break below these support zones could send ETH price to a region of $1,362, acting as a good support area. Related Reading: TRON (TRX) TVL Accelerates To Nearly $2 Billion Last Month Featured image from Bitcoinist, Charts from TradingView.com

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