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Ethereum Price Analysis: ETH/USD gaining slow momentum, 22 August.

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Ethereum Price Key Features

  • Ethereum price discovered support close $271-272 and began an upward move against the US Dollar.
  • Yesterday’s featured key bearish pattern line with resistance at $281 was broken on the hourly chart of ETH/USD (information feed through Kraken).
  • The match exchanged over the $290 and $295 levels, yet dealers showed up close to the $300 level.

Ethereum price is gradually picking up energy against the US Dollar and bitcoin. ETH/USD is currently put pleasantly in a positive zone over the $284 level.

Ethereum Price Support

Subsequent to exchanging as low as $268.13, Ethereum price shaped a base for an upward move against the US Dollar. The ETH/USD match began exchanging higher and picked up force over the $278 and $284 resistance levels. The price additionally flooded over the $290 level and settled over the 100 hourly straightforward moving normal. All the more critically, Ethereum price moved past the half Lie retracement level of the last decay from the $306 high to $268 low.

Moreover, yesterday’s featured key bearish pattern line with resistance at $281 was ruptured on the hourly chart of ETH/USD. The combine is presently put pleasantly over the $284 level, which is a positive sign. The ongoing upside move discovered merchants close to the $300-301 zone. Ethereum price withdrew and is as of now exchanging underneath the $295 level. Venders pushed the price beneath the 23.6% lie retracement level of the last wave from the $268 low to $301 high. On the drawback, the following support is close to the $288 level and the 100 hourly SMA. Underneath this, the following significant support is close to the $284 level, which is likewise a rotate level.

ETHUSD Price Chart 22 August
ETHUSD Price Chart 22 August

Taking a gander at the chart, Ethereum price is exchanging with bullish moves above $282. On the upside, the price needs to move over the $295 and $300 resistances for more picks up in the close term.

Hourly MACD – The MACD has moved back strongly in the bullish zone.

Hourly RSI – The RSI is presently well over the 55 level.

Significant Support Level – $284

Significant Resistance Level – $301

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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