Ethereum is testing 1838-1815 support area

1 באוג׳ 2023

Hi guys, let's review the current situation on Ethereum.

Ethereum price as expected dropped to the lower boundary of 1838-1815 support area and now will be looking at 1780-1760 support area. Since 1838-1815 isn't broke yet there might be some correction somewhere around 1850 level but otherwise short is all but confirmed.
I think that on this week ETH price can test 1780-1760 support area. Don't think that it will drop much lower but testing that area is likely. There is also possibility that Ethereum will be trading just around 1800 price without sharp movement.

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2 באוג׳ 2023

הערה

Ethereum price followed Bitcoin's price and completely changed direction. I expected that price will reach 1850 on the correction but it went up to 1875. Nevertheless I still think that ETH price more likely to drop than rise.
Overall idea remain the same.

5 באוג׳ 2023

הערה

After previous price rise Ethereum dropped again to 1820. Basically, as was expected, nothing has changed on Ethereum and overall idea remains the same.
The price can stay for a while in a narrow price range 1850-1820 but sooner or later it will drop under 1800 price level.