Ethereum (ETH) Prediction for August 18

Buyers are controlling the situation on the market at the end of the week, according to CoinStats.

ETH/USD

The price of Ethereum (ETH) has gone up by 2% over the last day.

On the hourly chart, the rate of ETH is testing the resistance of $2,669. If a breakout happens, the accumulated energy might be enough for a test of the $2,700 range soon.

A less bullish situation is on the bigger time frame. While the price is below the $2,750 level, there is still a chance of a correction to the $2,500 area.

On the weekly chart, neither side is dominating. In this case, an ongoing consolidation in the wide range of $2,500-$2,800 is the more likely scenario until the end of the month.

Ethereum is trading at $2,664 at press time.

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