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Ethereum price analysis for August 15, 2022, comes on a bearish note for the world’s 2nd biggest cryptocurrency as it can be confirmed that the Ether token has a major support at the $1500 price level which has been holding for a very long time. Additionally, we can also confirm that the prices of the token have fallen by almost 5% in the last 24 hours and investors can expect additional price drops as well. Following the confirmation of the news of the ETH Merge, the market has turned slightly bullish.
Also, as noted in our ETH price analysis for August 14, 2022, the Ethereum token has a major resistance towards the $2000 price region which has been holding for a very long time and hence, a retest of $1500 seems more like in the near future.
The data from CoinMarketCap shows that the trading volume of the coin surged by 50.24% in the last 24 hours, followed by a 4.91% drop in the market cap. Moreover, the Volume / Market Cap has a value of 0.08403, while the Market Dominance dropped to 20.21%.
The daily candle for Ethereum opened at a price of $1935 and reached a daily high of $2012. On the other hand, the daily low for ETH stands at a price of $1875. The price of 1 ETH at the time of writing is $1905.
Ethereum price analysis for August 15 on the daily chart
Ethereum price analysis for August 15, 2022, will take into account the data from the daily chart below and 3 major indicators in the crypto space.
The RSI indicator reads a value below 65, which confirms that the Ethereum token is no more being overbought.
The MACD line is moving towards the signal line which increases the chances of a bearish divergence.
The price action for Ethereum is situated at the upper end of the Bollinger Bands, but a retest of the middle zone seems likely.
Ethereum price analysis for August 15, 2022, ends on a bearish note for Ether with increased chances of losing $1900.
The post Ethereum about to lose $1900: Market turns slightly bearish appeared first on Blockchain, Crypto and Stock News.
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