Ethereum

Resistance

<div class="coinidol"> 
 <div class="info"> 
  <div class="news_info">
   Aug 27, 2023 at 10:45 // Price 
  </div> 
  <div class="author-box"> 
   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span> 
  </div> 
 </div> 
 <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/2a0/900_900_1/4a73jso88ompk930bud656wiisrodr8w.jpg" width="900" height="563" alt="Ether is struggling to stay above the $1,600 level" title=""> 
 <p><strong>The latest price <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com report, Ethereum price (ETH) is falling as buyers failed to keep the price above the $1,700 resistance level.</strong></p> 
 <h2 style="text-align: justify;" id="long-term-analysis-of-the-ethereum-price-bearish">Long-term analysis of the Ethereum price: bearish </h2> 
 <p style="text-align: justify;"> </p> 
 <p style="text-align: justify;"> After the rally on August 17, buyers have been desperately trying to break through the $1,700 resistance. If the current resistance is broken, Ether will resume its uptrend. However, Ether is encountering resistance near its recent high. </p> 
 <p style="text-align: justify;"> As a result, the altcoin is sliding and could fall below the current support level of $1,600. If the bears break the current support of $1,600, the largest altcoin will fall to lows of $1,517 and $1,400. On the other hand, if the current support holds, the cryptocurrency asset will be forced to trade in the zone between $1,600 and $1,800. Ether is currently on the retreat, hitting a low of $1,648.50 at the time of writing. </p> 
 <h2 style="text-align: justify;" id="ethereum-indicator-analysis"> Ethereum indicator analysis </h2> 
 <p style="text-align: justify;"> </p> 
 <p style="text-align: justify;"> Ether is trading with a Relative Strength Index of 29 for the 14 period. The largest altcoin is trading in the oversold zone of the market. Buyers are expected to emerge at lower price levels. Altcoin risks are decreasing while the market is in a downtrend. Bearish momentum has stalled below the daily stochastic level of 40. Ether is struggling to stay above the $1,600 level. </p> 
 <p style="text-align: justify;"> <img width="1024" alt="ETHUSD (Daily Chart) – AUG. 26.23.jpg" src="https://cdn.thebittimes.com/images/2023/08/27/e38bd86020ac75104e0d7d6d33bcf3a5.webp" height="570" title="ETHUSD (Daily Chart) – AUG. 26.23.jpg"><br> </p> 
 <h3 style="text-align: justify;" id="technical-indicators"> Technical Indicators: </h3> 
 <p style="text-align: justify;"> </p> 
 <p style="text-align: justify;"> <b>Key resistance levels – $1,800 and $2,000 </b> </p> 
 <p style="text-align: justify;"> <b> </b> </p> 
 <p style="text-align: justify;"> <b> Key support levels – $1,600 and $1,400</b> </p> 
 <h2 style="text-align: justify;" id="what-s-next-for-ethereum">What's next for Ethereum? </h2> 
 <p style="text-align: justify;"> </p> 
 <p style="text-align: justify;"> After the August 17 rally, the largest altcoin is fluctuating between support at $1,600 and resistance at $1,700. Once the area is broken, Ether will resume its trend. </p> 
 <p style="text-align: justify;"> <img width="1024" alt="ETHUSD_(4 Hour Chart) – AUG. 26.23.jpg" src="https://cdn.thebittimes.com/images/2023/08/27/4eaf28dc8245cf82bf840e911040b7ea.webp" height="570" title="ETHUSD_(4 Hour Chart) – AUG. 26.23.jpg"><br> </p> 
 <p style="text-align: justify;"> On August 22, 2023 cryptocurrency analytics specialists of Coinidol.com stated that the price is little changed since the price decline on August 17. Resistance at $1,700 limits the upward movement.&nbsp; </p> 
 <p style="text-align: justify;"> <i><span style="color: #a0a0a0;">Disclaimer.&nbsp;This <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.</span></i> </p> 
 <p style="text-align: justify;"> </p> 
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/ethereum-backs-down-and-struggles-to-reach-1-600-mark-tbt60570.html">https://thebittimes.com/ethereum-backs-down-and-struggles-to-reach-1-600-mark-tbt60570.html</a></p>

Ethereum Backs Down And Struggles To Reach $1,600 Mark

Table of Contents

TheBitTimes

Other articles published on Aug 27, 2023

7 Crypto-Friendly Countries You Need to Know About in 2023

Litecoin Price Prediction: LTC Slides 3% in 24 Hours; Can Borroe Dominate the Crypto Scene in 2023?

10 Crypto Menarik Selain Bitcoin (BTC)

FTX Founder to Defend Against Newly Released Evidence

NFT Stocks: How Are They Different From Other Traditional Stocks

Litecoin (LTC) Payments Surge 50% as Network Reaches New Milestone

Join our free newsletter for daily crypto updates!