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Ethereum (ETH) Price Analysis for September 5

Tue, 09/05/2023 - 16:00
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Denys Serhiichuk
Is price of Ethereum (ETH) ready for bounce back?
Ethereum (ETH) Price Analysis for September 5
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The rates of most of the coins keep falling; however, there are some exceptions to the rule.

Top coins by CoinMarketCap


The rate of Ethereum (ETH) has declined by 0.28% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of Ethereum (ETH) has passed most of its ATR, which means there are low chances of any sharp moves today.

Ethereum (ETH) Price Analysis for September 3

The falling volume also confirms this expectation. In this case, sideways trading in the area of $1,625-$1,635 is the more likely scenario.

Image by TradingView

On the daily time frame, the price of ETH has made a false breakout of yesterday's low. However, the rate keeps far from the main levels, which means that neither buyers nor sellers have seized the initiative yet. All in all, consolidation in the range of $1,620-$1,660 is the more likely scenario until the end of the week.

Image by TradingView

A similar picture can be seen on the weekly chart, as the candle is located within the previous bar. At the moment, traders should pay attention to the vital zone of $1,600. If buyers lose it, the drop may continue to the support of $1,543 soon.

Ethereum is trading at $1,630 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