Ethereum bears are growing stronger by the day from the past few weeks. The bears have taken over the Ethereum market, and investors are finding it tough to sustain their returns in this current volatile market. But recently, Ethereum price somewhat picked up on 2nd September. The price fluctuation has been in the range of $165 – $180.
Ethereum Price Analysis and Forecast
The bears are getting the better of Ethereum as seen from the past 5 days performance. From a high of $173.138 on Aug 29, the price of ETH coin fell to $165.413 on the same day within 14 hours to the extent of 4.39%. Ethereum price then recovered to $174.103 on Aug 31 in 2 days to the tune of 5.25%. On 2nd September, ETH price did recover to the extent of 3.80% at $180.640. With the bears still present, today the Ethereum price has fallen to $177.330, which is lower by 1.83%.
ETH to USD Price Chart
ETH is struggling to sustain its momentum due to the bears exerting pressure on its price. Analysts feel the short-term trend would pass and Ethereum should give a good run during the year-end. Long-term investors can continue to hold and invest from a long-haul perspective. Short-term investors should consider market volatility before making any investment decisions. Following are the calculated resistance and support levels:
R1: $182.18, R2: $186.02 and R3: $191.88
S1: $172.48, S2: $166.62 and S3: $162.78