Ethereum Price Prediction: ETH/USD Market Pushes Northward High

Market Pushes Northward High – August 8
The ETH/USD finance book records that the crypto market pushes northward high o trade around $3,151. As of writing, the crypto’s price witnesses a smaller negative percentage rate of around 0.39.

Market Pushes Northward High: ETH Market
Key Levels:
Resistance levels: $3,500, $3,750, $4,000
Support levels: $2,750, $2,500, $2,250

ETH/USD – Daily Chart
The ETH/USD daily chart depicts that the crypto market pushes northward high. Variant bullish candlesticks have continued to form in successive order to denote the trend’s path to the upside. The 50-day SMA trend-line has intercepted to the north by the 14-day SMA trend-line as the bullish trend-line drew across the SMAs to place above the bigger SMA close below some bullish candlesticks. The Stochastic Oscillators are in the overbought region, indicating a consolidation moving mood of the market. That shows that the crypto is prevailing over the US Dollar.

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When will the US Dollar regain strength as the crypto market pushes northward high?

The US Dollar regaining the strength may not be in the near time as currently that the crypto market pushes northward high. As the line of $3,000 has breached northward to some extent, bulls continually consolidate their presence in the crypto economy. Re-touching the point will mean to muster the energy to forge northward more possibly in the bid to push beyond the next resistance at $3,500.

To analyze the probable event that could to bears regaining the market’s control at this point, a full-bearish candlestick needed to emerge between the level of $3,000 and the $3,500 to give a selling wall that downward entries can exert. Traders are also required to be very cautious of their entries especially, those that involve shorting positions.

ETH/BTC Price Analysis

The ETH/BTC price analysis chart depicts that the base crypto pushes northward high against the counter crypto currently. The 14-day SMA indicator is above the 50-day SMA indicator. And, the bullish trend-line drew underneath the bigger SMA to support it. The Stochastic Oscillators are in the overbought region with the lines conjoined to suggest the possibility of getting to see the base trading instrument, experiencing downs at a later trading time. Therefore, care must exercise to not enter the market at the wrong time or level.

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