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Ethereum (ETH) Price Analysis for August 28

Sun, 08/28/2022 - 13:59
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Denys Serhiichuk
Has Ethereum (ETH) come back to bearish trend?
Ethereum (ETH) Price Analysis for August 28
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Bears are controlling the initiative on the last day of the week as most of the coins are in the red zone.

Top coins by CoinMarketCap


The rate of Ethereum (ETH) has declined by 7% over the last week.

ETH/USD chart by TradingView

On the local chart, Ethereum (ETH) is trading near the local level at $1,470. If the pressure continues until the end of the day, the fall can lead to a test of the $1,450 mark next week.

ETH/USD chart by TradingView

On the daily time frame, the situation is neither bullish nor bearish as the price is located inside yesterday's bar. However, if the candle closes near $1,447, the downward move can continue to $1,400 shortly.

ETH/USD chart by TradingView

On the bigger chart, Ethereum (ETH) has come back to the bearish zone as the price has broken the vital $1,500 mark. In this regard, bears have a chance to push the decline to the $1,300 zone.

Ethereum is trading at $1,473 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