Ethereum (ETH) Forecast for August 18: Expert Analysis and Insights
Buyers are currently in control of the market as the week draws to a close, as per insights from CoinStats.
The price of Ethereum (ETH) has seen a 2% increase in the past 24 hours.
Looking at the hourly chart, ETH is currently testing the $2,669 resistance level. Should a breakout occur, there is potential for a push towards the $2,700 range in the near future.
However, a more cautious outlook is observed on the larger time frame. As long as the price remains below $2,750, there is a possibility of a pullback towards the $2,500 zone.
On the weekly chart, there seems to be a balance between buyers and sellers. Consequently, it is anticipated that Ethereum will continue to consolidate within the broad range of $2,500 to $2,800 until the month concludes.
At the time of reporting, Ethereum is priced at $2,664.
