Ethereum

<ul> 
 <li><strong>The ETH price may have a significant breakthrough in the month of August.</strong></li> 
 <li><strong>A drop might begin in the ETH price if it is unable to break through the $1,875 level.</strong></li> 
</ul> 
<p>There has been hardly any upward or downward movement in the <a href="https://thenewscrypto.com/curve-finance-exploit-largest-mev-block-reward-produced-on-ethereum/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> price during the last several days. Ethereum price is following in Bitcoins footsteps. However, the ETH price may have a significant breakthrough in the upcoming month of August.</p> 
<p>In light of <a href="https://thenewscrypto.com/crypto-news-sec-asked-coinbase-to-suspend-all-crypto-trading-except-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s</a> latest decline to $29,000, the price of Ethereum has fallen back below the $1,900 threshold. But after dropping below $1,850 for a few days, the price has increased marginally again recently.</p> 
<h3 class="wp-block-heading" id="h-indecisive-breakout">Indecisive Breakout</h3> 
<p>In the last two weeks, the price of Ethereum has generally stayed between $1,850 and $1,950. This trend of indecision seems like a range-bound consolidation that might explode into a sharp uptick or downtick at any moment.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full"> 
  <img decoding="async" width="661" height="356" src="https://thenewscrypto.com/wp-content/uploads/2023/07/ETH_1D_graph_coinmarketcap.png" alt="" class="wp-image-79857" srcset="https://thenewscrypto.com/wp-content/uploads/2023/07/ETH_1D_graph_coinmarketcap.png 661w, https://thenewscrypto.com/wp-content/uploads/2023/07/ETH_1D_graph_coinmarketcap-300x162.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/07/ETH_1D_graph_coinmarketcap-150x81.png 150w" sizes="(max-width: 661px) 100vw, 661px"> 
  <figcaption class="wp-element-caption">
    Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The hourly chart also shows a breach below a major bullish trend line that was providing support at $1,870. The price has lately begun a new upswing after testing the $1,850 resistance level. A rise occurred over $1,865. Moreover, a 50% Fibonacci retracement barrier of the decline from the swing high at $1,885 to the low at $1,850 was broken by the bulls.</p> 
<p>Furthermore, Price action puts it below $1,875 and the 100-hourly SMA. The first significant barrier is about $1,885. If the price breaks through the $1,900 mark, the next major barrier is seen in the $1,950 area. If the price continues to rise, it may soon surpass the $2,000 mark.</p> 
<p>Another drop might begin in the Ethereum price if it is unable to break through the $1,875 barrier level. The area around $1,860 should provide as first downward support. If the price drops below the $1,850 area, it may seek refuge in the $1,820 region. The next significant support is at $1,780.</p>

Ethereum Price Consolidates; Awaiting Potential Breakout

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