Ethereum

Plunge

bullish

<p>The post <a href="https://coinpedia.org/price-analysis/will-ethereum-eth-price-retest-4k-or-plunge-to-2-8k-in-august/" rel="noopener noreferrer nofollow">Will Ethereum (ETH) Price Retest $4K Or Plunge To $2.8K In August?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>With a strong bullish recovery in the market over the past weekend, top crypto tokens have displayed a significant uptrend in their respective portfolios. This highlights a high possibility of a positive outlook for these tokens this week.</p>
<p>However, since the Ethereum ETF launch, the <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noopener noreferrer nofollow">Ethereum price</a> has continued its struggle to regain momentum and is constantly hovering close to its $3.3K level. What’s next for the Ethereum token as the market records increased bullish action?</p>
<h2 class="wp-block-heading" id="h-eth-crypto-records-increased-price-volatility">ETH Crypto Records Increased Price Volatility:</h2>
<p>Despite recording a correction of 3.15% within the past seven days, the Ethereum coin price has successfully regained momentum and has jumped 4.84% in valuation within the past day with a trading volume of $11.076 Billion and a 24-hour high of $3,384.53.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdQf9GwMgI2bsv4JrtAo3RRuBK-IXD6_LOaOgxMgv6qOee1ifclUSDThEZUmgZSl4B4kZfMvp3WBNLTZ1FB3Tvmb2KSnwRQmiYjqaQz3vIlNOoWuxzhFn1AG8Za3B9hc6SW6IdeRxS0kBiczkTDSshUKO0V?key=7vl87ceXsJ3DXDdM2vDmUw" alt="Ethereum Price Analysis">
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  TradingView: ETH/USDT
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</figure>
<p>Furthermore, the altcoin leader, <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH coin price</a>, has formed a descending channel pattern in the 1D time frame and has continued to trade within it since mid-May. This highlights a long-term bearish sentiment in the crypto market.</p>
<p>However, following a breakdown it has also formed an ascending channel pattern, indicating a significant rise in its buying pressure over the shorter time periods for the Ethereum token.</p>
<h2 class="wp-block-heading" id="h-ethereum-market-sentiments">Ethereum Market Sentiments:</h2>
<p>The Relative Strength Index (RSI) displays a sharp rise above the mid-point. Further, its average trendline shows a potential positive crossover. This suggests that the price will continue gaining value this week.</p>
<p>Moreover, the MACD indicator has displayed a constant decline in its red histogram with a high possibility of a bullish convergence in the 1D time frame. This indicates an increase in the buying-over-selling pressure.</p>
<h2 class="wp-block-heading" id="h-can-eth-price-hit-5k-this-august">Can ETH Price Hit $5K This August?</h2>
<p>If the market continues trading under a bullish sentiment, the Ethereum price will gain momentum, break out of its resistance level of $3.7K, and head toward its upper high of $4,000 in the coming time.</p>
<p>However, if the bears regain control over the bulls, the ETH crypto price will plunge toward its crucial support level of $2,800 during the upcoming weeks.</p>

Will Ethereum (ETH) Price Retest $4K Or Plunge To $2.8K In August?

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