ETH Price Analysis - August 20, 2018

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ETH is currently at spot #2 in terms of total market capitalization.

At the time of writing, ETH price is currently at $287, slightly down from the time of our analysis yesterday.

Unfortunately it looks like more ranging for ETH, not much to update on. After breaking down through the dynamic uptrend it had previously formed, it managed to hold the $280 temporary support level and actually made a test of the $305 but got shot down again, and is now looking like it might test the support one more time...

On the upside, we'd be looking to see if ETH can have another go at breaking $305). After that, we'd be looking for another retest of the $320 level it got rejected at. Once more, ideally we'd want to see establish some support at $305 first to give it a better chance of driving upwards.

On the downside, we'd be very wary if it breaks below $280, because after that it might just be in free fall until $250.

On the daily chart for ETH, technical indicators still give a bearish outlook although a bit worse since yesterday (16 sell, 10 neutral, 0 buy)

On the weekly chart for ETH, technical indicators also give a bearish outlook (14 sell, 7 neutral, 3 buy)

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