Ethereum in August, 2020 – will ot continue the rally, or is it time for a correction? Watch our technical and fundamental analysis of the ethereum price and chart and make an informed decision about how to trade it!
The Ethereum price movement over the past week has been remarkable. Witnessing a massive 40 percent hike since the 26th of July, the largest altcoin has brushed past key resistance, while registering a new high for the year. At the moment, the price movement over the next few days is difficult to estimate since the breakout is still taking place according to our Ethereum price analysis.
The rally over the past week has surmounted multiple resistance at $250, $276 and $304. After crossing $289, Ethereum marks its new-all yearly high moving away from its price point registered during February 2020.
However, deeper Ethereum analysis shows the asset didn’t really test the resistance at $335, which was the yearly high of 2019. That would be the main Ethereum price target bulls are looking at for confirmation the rally will continue.
At the moment, a red candle has appeared after 7-day consecutive green candles. After reaching an over-bought section, while the Relative Strength Index is starting to decline as well.
Watch the full video for our take on the Ethereum price analysis August 2020 and a deeper insight into what to expect from the cryptocurrency in the weeks ahead. And drop us a line in the comments with your thoughts on our Ethereum price prediction.
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