ETH 12h Critical point 425 is again under sellers' control More than a month has passed since the publication of one of our most well-aimed ETH ideas .
During this time, Ethereum was almost able to test the key level $425.
Obviously, such ETH confidence is added by DeFi projects , which are mainly based on it.
Also, according to the promises of the developers, Ethereum 2.0 can be implemented even in 2020.
What do we expect from the ETH movement?
In the coming days, it is important to follow the price behavior in the zone $418-425.
If we manage to fix above this zone, then the price is likely to go higher in the range $444-450. It's too early to talk about the targets above.
If buyers do not show their strength in the zone $418-425, sellers will be able to sharply attack down. First, to the levels $363 and $325-335.
Globally, we expect a fall to the zone $286-293.
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Ethprediction
ETH - Interesting imminent movement ahead.In the next few hours we could see some more action in the price than what we have had throughout this beginning of August where the price has been oscillating between lows of $ 350 and reaching over $ 400 on a couple of occasions.
If the triangle formation is fulfilled, we could see another impulse in ETH that would oscillate around $ 500, giving us a continuation to the new bullish rally that apparently is in play and that where now in view of 1h we can almost see that the moving averages 100 and 200 are almost very close. This point is a Fibonacci pivot between the $ 625 mark to watch for future long entries.
In the event that the price corrects (in daily view it is still oversold) the first levels to consider would be $ 350 and around $ 325, which would allow us a lower price action to increase the purchase while waiting for a better signal. Also in a 4h view we can see that the RSI is descending although this does not mean anything yet about the direction it will take.
What is your opinion?
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