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Ethereum (ETH) Price Analysis for August 21

Sun, 08/21/2022 - 14:55
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Denys Serhiichuk
Does Ethereum (ETH) have a chance for local growth next week?
Ethereum (ETH) Price Analysis for August 21
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The cryptocurrency market is neither bullish nor bearish, according to CoinMarketCap.

Top coins by CoinMarketCap


The rate of Ethereum (ETH) has gone down by 18.23% over the last week.

ETH/USD chart by TradingView

On the local time frame, Ethereum (ETH) has bounced off the $1,628 level. If buyers can't seize the initiative, there is a high chance to see a test of the $1,600 mark by the end of the day.

ETH/USD chart by TradingView

On the daily chart, Ethereum (ETH) is located in the middle of the narrow range between the support at $1,524 and the resistance at $1,655. Currently, neither side has accumulated enough power for a sharp move. Respectively, sideways trading around the mentioned levels is the more likely scenario for the upcoming week.

ETH/USD chart by TradingView

From the mid-term point of view, Ethereum (ETH) has made a false breakout of the support level at $1,560. Until the price is above it, bulls have a chance for an upward move. In addition, the selling volume is low, which means that bears are running out of strength.

Ethereum is trading at $1,608 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at