Ethereum Price Forecast: Will it Trigger a Rise to $1800? August 23 ETH Analysis

  • In the hourly chart of Ethereum, it can be observed that it is moving close to the resistance level of $1652.
  • If the price closes above $1652 on an hourly basis, the upward trend can continue towards the $1696 level.
  • If it fails to break the resistance at $1652, the downward trend can continue towards the $1630 level.

In the hourly technical chart of ETH, it is observed that the price is moving close to the resistance level of $1652. If the price can close above $1652 on an hourly basis, it may tend to continue the upward movement towards the $1696 level. However, if it fails to break the resistance at $1652, it may aim to continue the downward trend towards the $1630 level.

Medium-term ETH Analysis

Daily ETH/USD Price Chart

When examining the daily technical chart of Ethereum, it can be observed that it continues its sideways movement within the support range of $1611 – $1655. As long as the ETH price closes above $1610 on a daily basis, it may have the potential to continue the upward trend, and in this case, the target level of $1762 mentioned in the analysis is observed.

However, if Ethereum can close above $1700 on a daily basis, it can further increase the potential for upward movement. If the ETH price fails to close above $1700, the possibility of continuing the downward trend should be considered. Similarly, if the ETH price closes below $1610 on a daily basis, it can extend the downward trend to the $1549 level.

Therefore, it is important for investors to pay attention to the closing prices, especially below $1610. If the Ethereum price can close above the resistance level of $1762 on a daily basis, it is predicted that it can carry the upward movement to the $1800 level.

Short-term ETH Analysis

Hourly ETH/USD Price Chart
Hourly ETH/USD Price Chart

When examining the hourly technical chart of Ethereum, it can be seen that the price is moving close to the resistance level of $1652. If the price of Ethereum can close above $1652 on an hourly basis, it may tend to continue the upward movement towards the $1696 level.

However, if the ETH price fails to break the resistance at $1652, it may aim to continue the downward trend towards the $1630 level. If Ethereum closes below $1630 on an hourly basis, it can extend the downward movement to the support range of $1615 – $1610.

However, if Ethereum can maintain the support at $1630 and close above it on an hourly basis, it may aim to initiate the upward trend. In this case, the first target is $1652, and subsequently, an upward movement towards $1696 can be observed. Closing prices below $1630 carry the possibility of starting the upward trend from the support range of $1615 – $1610.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

pump.fun Dominates Solana Launchpad Market Share at 70.2% — Sept 7 BlockBeats Report

COINOTAG News on September 7 reported that, according to...

Bitcoin Market Cap Hits $2.21T — Nearly Double the Combined Value of Visa and Mastercard

According to COINOTAG News citing data from 8Marketcap, Bitcoin's...

Bitcoin Will Only Peak When the ‘Money Printer’ Stops, Warns Former ARK Invest Crypto Lead Chris Burniske

COINOTAG News, September 7: Former Ark Invest crypto lead...

Ethereum Exit Queue Falls 9 Days to 698,120 ETH (~$3B) as 860,782 ETH Await Activation

COINOTAG reported on September 7 that the validatorqueue tracker...

Elizabeth Warren Accuses Trump Family of $5 Billion Gain From WLFI Token Amid Rising U.S. Inflation

Sen. Elizabeth Warren released a video on September 7...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img