Ethereum (ETH) Daily Price Forecast – August 28

ETH/USD Medium-term Trend: Bullish

Resistance Levels: $300, $320, $340
Support Levels: $280, $260, $240

Yesterday, August 27th, the price of Ethereum was in a sideways trend. The market was relatively quiet and the price was at the lower level of the range bound zone. Today, the ETH price is in a bullish trend approaching the upper level of the range bound zone. If price breaks the upper level of the range bound zone price will reach the highs of $350 and $ 400.

On the other hand, if the bulls were resisted at the upper level, then price would fall and continue its range bound movement between the levels of $320 and $260. Traders should also exit all their long trades. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of ETH is above the 12-day EMA and the 26-day EMA which indicates that price is in a bullish trend. The Relative Strength Index period 14 is level 61 which indicates that price is in the bullish trend zone.

ETH/USD Short-term Trend: Bullish

On the 1-hour chart, the ETH price is in a bullish trend. The ETH price is above the 12-day EMA and the 26-day EMA which indicates that price is in a bullish trend. The MACD line and the signal line are above the zero line which indicates a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

Crypto Destroyer

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