Lorenzo Stroe
Independent Analyst
- ETH/USD is currently trading at $394.37 after a brief consolidation period.
- Ethereum dropped to a low of $327 after wild market price action due to a whale placing large Bitcoin orders on Binance.
Ethereum has recovered extremely well from the flash crash on August 2 which took the digital asset from its peak of $415 to $327 in minutes. Ethereum bulls are eying up $400 again as they are facing almost no resistance levels until $500.
ETH/USD 1-hour chart
-637320660063695337.png)
The 1-hour chart has clearly formed an uptrend after the dip and ETH is slowly climbing up establishing good support levels behind.
ETH/USD daily chart
-637320661914250399.png)
The recent flash crash hasn’t changed anything and Ethereum is still playing with that daily bull flag. Again, buyers haven’t established many support levels on the way up and a healthy consolidation period would be ideal. The next crucial resistance level is located at $515, formed back in July 2018.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Cardano Price Forecast: Sign of robust bullish reversal emerges despite dwindling DeFi TVL volume
Cardano rebounds to test resistance at $0.69 as technical indicator flashes a buy signal. A minor increase in the derivative Open Interest to $831 million suggests growing trader interest in ADA.
Crypto Today: Bitcoin's downside risks escalate as BTC spot ETF outflows extend
The cryptocurrency market is consolidating losses after starting the week amid high volatility. Bitcoin attempted to steady the uptrend above $106,000 but lost steam, resulting in a reversal to $105,204 at the time of writing on Tuesday.
Bitcoin falls below $106,000 as risk-off sentiment persists
Bitcoin price faces rejection around its $106,406 resistance level on Tuesday, hinting at a potential correction ahead. Market sentiment sours as growing Israel-Gaza tensions weigh on riskier assets, such as BTC.
Coinbase asset roadmap adds Ethena, ENA targets $0.34 breakout before listing
Ethena records its fourth consecutive positive day, signaling increased bullish momentum. Coinbase announces the addition of Ethena to the asset roadmap, making it tradable on the platform soon.
Bitcoin: BTC dips as profit-taking surges, but institutional demand holds strong
Bitcoin (BTC) is stabilizing around $106,000 on Friday, following three consecutive days of correction that have resulted in a near 3% decline so far this week. The correction in BTC prices was further supported by the profit-taking activity of its holders, which has reached a three-month high.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.