ETH Price Analysis - August 24, 2018
At the time of writing, ETH price is currently at $271.
ETH has been quite stagnant over the past 24 hours. Right now it's resting easily on the support at $270. As you can see from the chart, it has been on a downtrend since the last high established on August 18th when it hit $320.
Right now the most important thing (if you're bullish on ETH) is for it to hold the $270 support. If it fails to hold, we're looking at a drive down to $250 or so. Below that and we're really in uncharted territory as that would signal levels not seen since 2017. On the upside, if ETH can hold $270, we're looking to see if it can make a clean break above $280 and for it to hold it above that level. After that it could range for a while until it can gather enough momentum to have another test of $305. Above that and the next level we'd look at would be at $320.
On the daily chart for ETH, technical indicators still give a bearish outlook (14 sell, 10 neutral, 2 buy)
On the weekly chart for ETH, technical indicators also give a bearish outlook (14 sell, 8 neutral, 2 buy)
As always, if you have any questions, don't hesitate to reach out via email or through our Telegram group! (links below)
\
How to get in touch with us:
Follow us on Steemit - @ledger256
Join our Telegram group - https://t.me/joinchat/GXO2tBJ1TWgm0AHo9d4Scw
*We're always around to be of help in all things crypto and blockchain :)
Email us - [email protected]
DISCLAIMER
NO FINANCIAL ADVICE – The information on this blog is provided for education and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The information contained in or provided from or through this blog is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice. The information on this website and provided from or through this website is general in nature and is not specific to you the Reader or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented on this blog or any affiliated channel without undertaking independent due diligence and consultation with a professional broker or financial advisory. You understand that you are using any and all Information available on or through this website at your own risk.
RISK STATEMENT – The trading of Bitcoins and alternative crypto-currencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.