• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Cardano Price
    • Binance Coin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Cardano Price
    • Binance Coin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Exchange News

Ethereum price analysis: ETH price unable to break through

Taha Farooqui by Taha Farooqui
August 7, 2019
in Exchange News
2 min read
Ethereum price analysis: ETH price unable to break through 1
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

Ethereum price analysis isn’t really required to read that Ethereum (ETH) price has been trading in an uncertain pattern across the daily frames.

As we can observe that the price has seen more than a few ups and downs in the last ten days. On July 30 Ethereum price fell to two hundred and three dollars ($203), but price started rising steadily.

Then the price reached two hundred and thirty-six dollars ($236) by August 5 and rose to two hundred and forty dollars ($240) dollars by the next day.

RelatedPosts

Kraken predict Bitcoin price next surge is to $90,000

Brian Armstrong set to launch billion-dollar Coinbase stock

Upcoming Uniswap V3 to provide flexible fees and 4,000x more capital efficiency

OKEx Korea to shutdown amid regulatory and business challenges

However, the bulls did not last as the price plunged minutes after it had risen to the two hundred and forty dollars ($240) mark.

Ethereum price analysis: ETH price unable to break through 2Ethereum price chart by Trading View

Across the short-term charts with two-hour frames, we can observe an ascending triangle has been supporting the price action since mid-July. This is a bullish pattern which makes the occurrence of a breakout much more probable.

Ethereum price analysis: ETH price unable to break through 3Ethereum price chart by Trading View

However, the price is currently trading extremely close to the resistance line of the triangle. Although price had broken above the triangle before the price could not manage to close above and fell back inside the triangle shortly. Before the price dropped the RSI showed a bearish divergence.

Ethereum price analysis: ETH price unable to break through 4Ethereum price chart by Trading View

 

The price has been trading near the two hundred and thirty-six dollars ($236) mark for the last two days even so the RSI has been delving deeper and deeper towards the bears.

A closer observation shows the characteristics of a false bullish breakout.

Ethereum price analysis: ETH price unable to break through 5Ethereum price chart by Trading View

The first two arrows show that resistance has formed there even, so the next day price rises to two hundred and thirty-six dollars ($236) once again.

This time a breakout occurs but a very short one in which the price rose to two hundred and forty ($240) then fall back to two hundred and thirty dollars ($230). Moreover, the volume rose suddenly during that one hour, confirming the idea of a false breakout.

Price action is likely to fall below to the support line of the triangle. The price of ETH has been trading in an ascending triangle, and now it is likely to fall to its support line.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

Related Posts

Kraken
Exchange News

Kraken predict Bitcoin price next surge is to $90,000

April 10, 2021
Brian Armstrong
Exchange News

Brian Armstrong set to launch billion-dollar Coinbase stock

March 24, 2021
Upcoming Uniswap V3 to provide flexible fees and 4,000x more capital efficiency
Exchange News

Upcoming Uniswap V3 to provide flexible fees and 4,000x more capital efficiency

March 24, 2021
OKEx Korea to shutdown amid regulatory and business challenges
Exchange News

OKEx Korea to shutdown amid regulatory and business challenges

March 23, 2021
US exchange, Coinbase postpones its direct listing to April
Exchange News

US exchange, Coinbase postpones its direct listing to April

March 20, 2021
Jump Trading invests in fan token platform Chiliz
Exchange News

Kraken to consider direct public listing in 2022

March 17, 2021

Follow Us

  • 51k Fans
  • 8.3k Followers

Latest News

Binance coin

Binance coin surges as Nasdaq prepares for Coinbase listing

April 12, 2021
Chainlink Price Prediction 2021-04-12

Chainlink price prediction: Chainlink continues trending higher, preparest to test resistance at $35

April 12, 2021
Binance Coin price

Binance Coin price prediction: BNB to face rejection at $600 as bulls stumble

April 12, 2021
Ripple Price Prediction 2021-04-12

Ripple price prediction: Ripple retraces after setting ATH at $1.50, further downside expected today

April 12, 2021
How PKT Cash Provides an Economic Incentive for People to Connect Bandwidth to the Decentralized PKT Network 6

How PKT Cash Provides an Economic Incentive for People to Connect Bandwidth to the Decentralized PKT Network

April 12, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker
Sitemap

Exclusive Partners of

Footer 7

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Cardano Price
    • Binance Coin Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.