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Ethereum Price Analysis: ETH/USD Sharp Drop, 14 August.

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Ethereum Price Key Features

  • Ethereum price broadened decreases and dipped under the $260 support zone against the US Dollar.
  • Yesterday’s featured urgent bearish pattern line is flawless with resistance at $305 on the hourly chart of ETH/USD (information feed through Kraken).
  • The match may well right a couple of focuses higher towards $277-280, however, it is probably going to confront merchants.

Ethereum price dropped essentially against the US Dollar and bitcoin. ETH/USD is probably going to decrease encourage underneath $250 in the close term.

Ethereum Price Decrease

There was no recuperation in Ethereum price over the $320 level against the US Dollar. The ETH/USD match confronted an expanded offering weight and declined underneath the $300 and $280 support levels. The decrease was with the end goal that the price tumbled underneath the $260 support also. Another month to month low was shaped at $249 and the price is right now merging misfortunes.

An underlying resistance is the 23.6% Lie retracement level of the last drop from the $322 high to $249 low. Be that as it may, any real upsides are probably going to confront a solid obstruction close to the $277-280 zone. All the more significantly, yesterday’s featured pivotal bearish pattern line is unblemished with resistance at $305 on the hourly chart of ETH/USD. A transitional resistance is the half Lie retracement level of the last drop from the $322 high to $249 low is close $286. In this manner, if the price adjusts higher, it is probably going to confront dealers close to the $277, $280 and $286 levels.

ETHUSD Price Chart 14 August
ETHUSD Price Chart 14 August

Taking a gander at the chart, Ethereum price is under a great deal of offering weight beneath $285 and the 100 hourly basic moving normal. On the drawback, the $250 support zone is imperative. On the off chance that it neglects to hold misfortunes, the following support is close to the $220 level. Beneath this, the last essential support for purchasers is at $200 and $205.

Hourly MACD – The MACD is set intensely in the bearish zone.

Hourly RSI – The RSI is endeavouring a recuperation from the outrageous oversold conditions.

Real Support Level – $250

Real Resistance Level – $286

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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