Ethereum Price Analysis: ETH Bulls Continue To Push, The Rally is Not Over Yet – Cryptocurrency News – The Market Periodical

ethereum-price-analysis:-eth-bulls-continue-to-push,-the-rally-is-not-over-yet-–-cryptocurrency-news-–-the-market-periodical
  • Ethereum price began to rise steadily and the exchange rate against the US dollar rose by 3,500 US dollars. The price of ETH is showing positive signs and may further accelerate its breakthrough of $3,700.
  • The 24-hour trading volume is at $35,240 billion.
  • ETH/BTC pair is also trading positive by 7.5% at 0.07455163 BTC. 

The daily technical chart and price action of Ethereum display an upward trend. According to the pivot levels, the primary support level is $3200. On the other side, if it rushes up, the resistance level to follow is $3700. Although the chart forms a bullish harami candlestick pattern within the day, it is predicted that the price may remain upwards with medium reliability.

The Ichimoku Cloud, consisting of lead 1 & lead 2 with a displacement value of 1. It operates as a pivot level and a leading indicator in the asset price change. Investors may witness the price break above the Red Moku Cloud and now flies above the Green Moku Cloud, so until the price resides above the Green Moku Cloud, it will assure a bullish trend in ETH. 

The volume of (244.500K) is below the MA of 20-days (528.347K). As a result, the volume is moderate, causing its price to test the resistance zones. Investors may also mark that the volume bars on the chart are declining, which intimates that notable volatility is expected in the upcoming trading session. 

The MACD indicator will soon give a (bullish) crossover above the signal line on Sep 01, indicating a buy signal in the coin. Moreover, Investors can see the end of red bars in the Histogram index.

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Ethereum (ETH) Price Action May Rise 12%

The price of Ethereum today is US$3,532.68, and the 24-hour trading volume is US$35,240,494,441. The price of ETH has increased by 7.5% in the past 24 hours. The circulation of ETH is 120 million, and the total amount is unlimited. The MACD indicator will show a buy signal soon, and the traders have guided moderate volume. Technically, the price is testing the resistance zone and remains in an upward trend. Therefore, as with overall market sentiment, the trend remains bullish in upcoming trading sessions.

Resistance Level: $3700

Support Level: $3200

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