Ethereum

Bitcoin

<ul> 
 <li><strong>The price seems to be slipping gradually after some period of consolidation.</strong></li> 
 <li><strong>If the price manages to close over $1,700, we may see a solid uptick in the near future.</strong></li> 
</ul> 
<p>Most cryptocurrencies are still trading in the red, indicating that the bears are still in control. <a href="https://thenewscrypto.com/bitcoin-btc-price-consolidates-as-further-decline-looms/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> and Ether prices seem to be indicating a further fall. The price seems to be slipping gradually after some period of consolidation.</p> 
<p>After failing to break over $1700 on August 18, the ETH price has continued its downward trend. <a href="https://thenewscrypto.com/ethereum-eth-price-eyes-big-move-further-decline/" target="_blank" rel="noopener noreferrer nofollow">Ethereum’s</a> quick decline caused it to go below $1644, which has been acting as support recently. According to CMC, the price of ETH is now trading at $1,644, down 1.27% with an uptick in trading volume by 70% in the last 24 hours.</p> 
<h3 class="wp-block-heading" id="h-struggle-continues-for-eth">Struggle Continues for ETH</h3> 
<p>The primary hurdle is still around the $1,700 level. If the price manages to close over this resistance level, we may see a solid uptick in the near future. The next significant barrier would be around $1,750. Ethereum’s price may drop again if it is unable to break above the $1,675 barrier level. The area around $1,600 should provide initial support.</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/2023/08/ETH_7D_graph_coinmarketcap-1.png" alt="" class="wp-image-81113" srcset="https://thenewscrypto.com/wp-content/uploads/2023/08/ETH_7D_graph_coinmarketcap-1.png 661w, https://thenewscrypto.com/wp-content/uploads/2023/08/ETH_7D_graph_coinmarketcap-1-300x162.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/08/ETH_7D_graph_coinmarketcap-1-150x81.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>On the downside, the region around $1,580 represents the first significant support. Additional losses are possible if the ETH price drops below $1,580. The next key support level is $1,550. In the event of further declines, the price might approach the $1,520 mark or potentially drop below the $1,500 level.</p> 
<p>Moreover, the relative strength index (RSI) on a daily time frame indicates that the price of ETH is in oversold territory (below 30). The price falling into the oversold area is not always followed by a reversal. Even more precipitous falls are possible while still within the oversold region.</p>

Ethereum (ETH) Price Tests Key Support Levels Amid Bears Dominance

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