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Ethereum Price Prediction for Today, August 27: ETH Is Retracing

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ETH Is Retracing – August 27
It denoted that the Ethereum market is retracing against the trade strength of the US Dollar. Price has featured its trading activities between $1,472.30 and $1,518.41 value lines. As of the time of writing, the price trades around $1,501.22 to keep an average minute percentage rate of 0.38 negative.

Ethereum (ETH) Statistics:
ETH price now – $1,501.22
ETH market cap – $183.2 billion
ETH circulating supply – 121.1 million
ETH total supply – 121.1 million
Coinmarketcap ranking – #2

ETH Is Retracing: ETH Market
Key Levels:
Resistance levels: $1,750, $2,000, $2,250
Support levels: $1,250, $1,000, $750
ETH/USD – Daily Chart
The daily chart showcases the crypto economy is retracing against the purchasing strength of the US Dollar as it faces a logical support point at $1,500 to breach below the SMAs. The 14-day SMA trading indicator is at $1,668.04 underneath the 50-day SMA indicator, which is at $1,733.75. The baseline drawn at the $1,000 support level marks the pivotal point the market can push in the wake of an aggressive downward-trending condition afterward. The Stochastic Oscillators have once attempted to move upward in the oversold region. But, they have crossed southbound below the range of 20 to keep the 16.42 and 9.74 range values.

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With the emergence of a bearish candlestick yesterday, will the ETH/USD price lower more?

Yesterday’s emergence of a bearish candlestick has to some extent, created a selling wall in the ETH/USD market, and it calls for the need to exert a stop loss order around the $1,733.75 value line of the 50-day SMA. There has been no signal to back a change to portend a return of a bullish-trading situation. Therefore, buyers are to exercise patience for some time before getting back a formation that will suggest exhaustion of the current downward-trending motion.

On the downside of the technical analysis, at this point, the ETH/USD market sellers need to resort to a consolidation moving pattern to stage sustainable lows through variant support levels below the $1,500 psychological value. Selling orders intended around the lower zone of the bearish candlestick that emerged yesterday will require a backing of active price action to run into a profiteering trait.

ETH/BTC Price Analysis

Despite a line of corrections in the pairing ETH/BTC crypto market, the former trading instrument still holds firmly to some reasonable extent against the latter tool. The price analysis chart portrays the currency pair price as retracing with a less-active force around the trend line of the smaller SMA. The 14-day SMA indicator is above the 50-day SMA indicator. The Stochastic Oscillators have crossed southbound, maintaining 34.25 and 14.06 range points. The base crypto may go down for a while toward finding support around the trend line of the bigger SMA before resuming to attempt to swing up back high.



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