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Ethereum (ETH) Price Analysis for August 9 – U.Today

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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Bulls keep controlling the situation on the market as most of the coins remain in the green zone.
Top coins by CoinMarketCap
Top coins by CoinMarketCap
The rate of Ethereum (ETH) has risen by 1.17% over the last 24 hours.
ETH/USD chart by TradingView
Image by TradingView
On the hourly chart, the rate of Ethereum (ETH) is in the middle of the local channel, gaining energy for a further move. There are low chances of seeing growth or a fall until the end of the day as most of the daily ATR has been passed. In this case, sideways trading around the $1,860 zone is the more likely scenario.
ETH/USD chart by TradingView
Image by TradingView
On the bigger time frame, the rate of Ethereum (ETH) has fixed above the support level at $1,816. However, it is too early to think about midterm growth as not enough energy has been accumulated yet.

Related
Bitcoin (BTC) Price Analysis for August 8

If buyers want to get back in the game, they need to restore the price above the area of $1,900.
ETH/BTC chart by TradingView
Image by TradingView
On the daily chart against Bitcoin (BTC), the rate is trading sideways as the price is far from the main levels. As none of the sides has seized the initiative, consolidation in the range of $0.06150-$0.06250 is the more likely scenario until the end of the month.
Bitcoin is trading at $1,860 at press time.

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.
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Disclaimer: The opinions expressed here are not investment advice; they are provided for informational purposes only. The opinions expressed by our writers are their own and do not represent the views of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. We do not recommend investing money you cannot afford to lose.

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