Ethereum

<ul> 
 <li>Ethereum (ETH) reached a weekly low of $1,804 on August 7.&nbsp;</li> 
 <li>The leading altcoin has struggled to cross the 1,900 level for the past few weeks staying between a range of $1800 – $1850.</li> 
</ul> 
Ethereum (ETH), the leading altcoin by market capitalization, has experienced a slight recovery of 0.13% after reaching a weekly low of $1,804 on August 7. However, the trading price of ETH still stays below the $1,900 mark, showing bearish momentum in the crypto market. 
Yesterday, Ethereum experienced a downtrend that resulted in a weekly low of $1,804. In the past few weeks, the trading price of ETH has maintained below the $1,900 level, staying between $1800 – $1850. While the entire crypto market is waiting for ETH to hit the $2K mark, the leading altcoin is <a href="https://thenewscrypto.com/can-artificial-intelligence-ai-use-ethereum-eth/" target="_blank" rel="noopener noreferrer nofollow">struggling</a> to cross the 1,900 level.&nbsp; 
The year 2023 has been a rollercoaster ride for the Ethereum trading price. The second-largest cryptocurrency has started the year with bearish momentum. However, in April, ETH crossed the $2K mark for the first time this year. Following that, recently in July, the altcoin breached a significant level to reach $2,014. After that, ETH maintained its trading price of around $1,800.&nbsp; 
<h3 class="wp-block-heading" id="h-ethereum-eth-price-analysis-24-hour-timeframe">Ethereum (ETH) Price Analysis: 24-Hour Timeframe&nbsp;</h3> 
At the time of writing, Ethereum has been trading at $1,833, with a decline of over 0.21% in the last 24 hours. On the other hand, the daily trading volume of ETH has experienced an increase of 68.19%, according to CoinMarketCap.&nbsp; 
<figure class="wp-block-image size-large"> 
 <img decoding="async" width="1024" height="608" src="https://thenewscrypto.com/wp-content/uploads/2023/08/ETHUSD_2023-08-08_11-28-05-1024x608.png" alt="" class="wp-image-80318" srcset="https://thenewscrypto.com/wp-content/uploads/2023/08/ETHUSD_2023-08-08_11-28-05-1024x608.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/08/ETHUSD_2023-08-08_11-28-05-300x178.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/08/ETHUSD_2023-08-08_11-28-05-768x456.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/08/ETHUSD_2023-08-08_11-28-05-638x380.png 638w, https://thenewscrypto.com/wp-content/uploads/2023/08/ETHUSD_2023-08-08_11-28-05-150x89.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/08/ETHUSD_2023-08-08_11-28-05.png 1214w" sizes="(max-width: 1024px) 100vw, 1024px"> 
 <figcaption class="wp-element-caption">
 Ethereum (ETH) Trading Price Chart ( Source: TradingView ) 
 
 </figcaption> 
</figure> 
The daily trading price chart shows that the ETH trading price is in neutral momentum as the current price is trading around the 50-day exponential moving average (50 EMA). According to the RSI Indicator, ETH is neutral and inching closer to the oversold zone.&nbsp; 
According to the data, if Ethereum experiences <a href="https://thenewscrypto.com/will-ethereum-eth-breach-the-2k-mark-soon/" target="_blank" rel="noopener noreferrer nofollow">bullish momentum</a>, it will reach the nearest resistance of $1,850. If the trend continues, the price will break through the $1900 range and even advance to surpass the $2,000 mark. On the other hand, another drop may begin if Ethereum fails to cross $1,850. If the leading altcoin drops below the $1,800 mark, the support is $1,780.&nbsp;What do you think, Will ETH show a pump? Tweet to us at @TheNewsCrypto and let us know your thoughts.&nbsp;

Will Ethereum (ETH) Above $1,900 Mark Soon?

Table of Contents

TheNewsCrypto

Other articles published on Aug 8, 2023

Coinbase Set To Reclaim Junk Bonds Amidst Bitcoin’s Bullish Trend

Coinbase begins $150M debt buyback at 36% discount

BREAKING: FED Reveals Cryptocurrency Oversight Program

Portfolio Preservation: Investors Turn to the Future with InQubeta and Stellar as Interest in Rip...

DOGE Is Very Likely To Be Integrated Into X By Musk: Analyst

Hedera Hashgraph Trending: Why Crypto Influencers Are Hyping $HBAR

Join our free newsletter for daily crypto updates!