Ethereum Price Prediction and Analysis For August 21st: ETH Stumbled on Market Moods

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

The ETH has put its restoration on a halt: the market situation does not stimulate active buying. Tuesday morning, August 20th, the cryptocurrency slightly declines, trading at $198.95.

On H4, the Ethereum has formed a convergence after nearing an important correction level of 61.8% ($163.20) Fibo. This suggests the development of an uptrend but only after a breakaway of the resistance line of the current channel. Another confirmation of the growth would be the Gold Cross on the MACD. The goals of the growth are at $231.50 and $262.60.

On H1, the short-term market moods are visible. The quotations are testing the resistance line, while the Stochastic remains in the overbought area, having formed a Black Cross and a divergence. Such a set of signals may signify a potential for a correcting decline to 23.6% ($197.57), 38.2% ($193.83), 50.0% ($190.81) and 61.8% ($187.69) Fibo.

Related Post

As the creator of the ETH Vitalik Buterin says, the main problem of cryptocurrencies, including the ETH, remains the problem of scalability. This is the reason for which institutional-level investors cannot work with virtual currencies and platforms. Solving this problem requires time, but it has already become obvious that we have missed the precious moment for platform development.

According to Buterin, the Ethereum blockchain is almost filled up, and if a large investor decides to join in, the system will be virtually paralyzed because transactions will significantly grow in price.

However, Buterin sees a way out: each computer should verify a small part of transactions. Then the safety parameters will not slumber while the expenses will decrease almost 100 times. Buterin and his team are really focused on making the system as user-friendly as possible and spreading the blockchain technology.

Disclaimer: Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Dmitriy Gurkovskiy

Chief Analyst at RoboForex

Share
Published by
Dmitriy Gurkovskiy

Recent Posts

A Guide to Authentication Methods (Infographic)

Stolen passwords and weak passwords are responsible for over 80% of security breaches in 2018,…

2 weeks ago

How To Boost FPS and Reduce Input Lag in Fortnite

One of the most common questions I get is how I can optimize FPS in…

3 weeks ago

Insane! Science Backed Method To Train Your Mouse Aim For FPS Games

If you are looking to improve your aim for your favorite competitive FPS title, chances…

4 weeks ago

Find Fortnite Clan – A Directory of Top Fortnite Clans

Are you looking for a Fortnite clan or team to join? Chances the answer is…

4 weeks ago

Find Valorant Clans and List Your Own Team for Free

Now that Valorant has been out for quite some time, the players that are looking…

1 month ago

The Lonliness Economy

Chronic loneliness can shorten lifespan by as much as 20 years - more than alcoholism…

1 month ago

This website uses cookies.