By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: Ethereum Rejects $2k, Retest Of $1,800 Imminent
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > crypto > Ethereum Rejects $2k, Retest Of $1,800 Imminent
crypto

Ethereum Rejects $2k, Retest Of $1,800 Imminent

admin Published August 16, 2022
Last updated: 2022/08/16 at 4:26 AM
Share
SHARE

[ad_1]

The current Ethereum price analysis is bearish due to multiple instances over the previous day of rejection for additional upward. As a result, we anticipate ETH/USD to drop below $1,900 and then retest $1,800 as support.

Contents
Ethereum Rejects UpsideOn-chain Info

Ethereum Rejects Upside

Since reaching a daily high of $2012, Ethereum has corrected by 6.6%. The price range between $1700 and $1800 is the crucial support level, and it is crucial for ETH to maintain above it to stop any further falls.

Technically speaking, Ethereum is advancing inside a rising wedge (in yellow), which is a bearish trend. The trade volume on Binance is also declining concurrently. This implies that the number of buyers is gradually dropping.

Assume that the bulls can prevent the pair from breaking below the important support in the $1,700–$1,800 region (shown in green). In this instance, it is anticipated that after a temporary retreat, the rising trend will carry on with $2200 as the target. On the other hand, if the price drops below the indicated support, bears will have a chance to hit $1350-1280. (in light blue).

ETH/USD 4-hour chart. Source: TradingView

Since the beginning of August, when a significant higher high was recorded slightly below $1,600, the price of ethereum has been moving strongly in the direction of the bulls. After some consolidation, the ETH/USD pair on Wednesday overcame previous resistance at $1,800.

After that, positive momentum increased until it reached the $1,900 resistance, where it briefly stabilized once more. Retracement, however, did not occur because another upward spike led to the current swing high being made at $2,000.

Yesterday, as the $2,000 barrier was momentarily surpassed before bearish momentum rapidly returned, the price of ethereum tried to rise even higher. Another lower local high was established overnight to today, leading to a breach below the $1,900 support over the last few hours and paving the door for much more decline.

On-chain Info

The graph below demonstrates how the decline in exchange reserve has coincided with the growing trend of ETH. The outflow is greater than the intake, as seen by the red histogram bars. The histogram bars have changed color to green during the past four days.

ethereum

Source: Cryptoquant

This suggests that investors put their coins on deposit in anticipation of a potential selloff. Knowing that this influx is connected to the spot market is helpful.

Featured image from Coinmarketcap, chart from TradingView.com, Cryptoquant

[ad_2]

You Might Also Like

How to earn bitcoins fast

How to Tell If a Cryptocurrency is a Scam or Not

Tips to Avoid Losing In Cryptocurrency Trading

How to Sell Products Online with Bitcoins – The Ultimate Guide

Get a Cryptocurrency Trader Certification to Get Ready For The Big Game!

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin August 16, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Daily Crunch: Meta backs SMB e-commerce app launched by former Facebook engineering manager – TechCrunch
Next Article Mycel’s mushroom meat and biomaterials sprout $10M in funding – TechCrunch

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

earn bitcoins fast
crypto

How to earn bitcoins fast

4 Min Read
Cryptocurrency is a Scam or Not
crypto

How to Tell If a Cryptocurrency is a Scam or Not

8 Min Read
Losing In Cryptocurrency Trading
crypto

Tips to Avoid Losing In Cryptocurrency Trading

6 Min Read
Sell Products Online with Bitcoins
crypto

How to Sell Products Online with Bitcoins – The Ultimate Guide

5 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?