- Ethereum price breaches target one at $1800, which was mentioned in July’s market bottom thesis.
- ETH price shows an influx of deposits on all exchanges.
- The midterm bullish forecasts are dependent on $1250 holding as support.
Ethereum price shows significant smart money interest. A sharp liquidation could occur before prices move higher.
Ethereum price is preparing for a big move
Ethereum price has displayed applause-worthy strength throughout the last few weeks. Since early June forecasts have called for a potential market bottom with bullish targets between $1800 and $2200.
“If the bears can breach $1536, a spike into $1800 could occur,” was forecasted in July.
-637956625687028219.png)
ETH/USDT Historical Lows
Ethereum price has validated the early bullish claims as it made its furs contact with the $1800 barrier on Monday August 8, 2022.
Ethereum price currently auctions at $1712 as profit taking near the anticipated target zone unfolds. Although technicals suggest significant strength in the market, a smart money liquidation should be on every trader's radar targeting $1600 and potentially $1540.
CryptoQuant’s On-chain analysis indicators confound with the short-term bearish potentiality. According to the Exchange Net Flow Total indicator, Ethereum price witnessed a massive influx of deposits causing a 255% imbalance in the last 24 hours. According to CryptoQuant, the indicators can be used to gauge selling pressure in the market.
Cyrypto Quant Exchange Netflow Total
CryptoQuants indicators suggest significant smart money involvement around the decentralized smart contract token. Ethereum price could continue rallying higher towards $1900 and potentially $2200 in the weeks to come but the Invalidation level is crucial, ETH price should under no circumstances fall below $1250. In doing so, the macro count would become problematic while dually prompting a demise towards $400, resulting in a 75% decrease from the current Ethereum price.
In the following video, our analysts deep dive into the price action of Ethereum, analyzing key levels of interest in the market. -FXStreet Team
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
XRP soars upon announcement that SEC will drop its appeal against Ripple
Ripple CEO Brad Garlinghouse announced that the SEC will drop its appeal against Ripple. The victory follows rumors of Ripple's lawyers negotiating more favorable terms than the company got in Judge Torres' ruling last August.
Dogecoin on-chain metrics signal a potential turning point once the crypto market stabilizes
Dogecoin price hovers around $0.168 on Wednesday after bouncing off its 200-week EMA last week. Santiment’s data shows that DOGE’s utility and whale wallets are rising, hinting at a potential rally for the dog-themed memecoin.
Bitcoin stabilizes below key resistance, risk-off sentiment persists
Bitcoin (BTC) trades around $83,300 at the time of writing on Wednesday after facing resistance around its 200-day Exponential Moving Average (EMA) at $85,500 since last week, with a break above this level suggesting a potential recovery.
Ripple's XRP futures signals increased bearish sentiment despite long-term holders seeing strong gains
XRP open interest and funding rates have remained largely negative in recent weeks. Investors remained calm despite the high bearish sentiment in the futures market, likely due to their large profits.
Bitcoin: BTC at risk of $75,000 reversal as Trump’s trade war overshadows US easing inflation
Bitcoin price remained constrained within a tight 8% channel between $76,000 and $84,472 this week. With conflicting market catalysts preventing prolonged directional swings, here are key factors that moved BTC prices this week, as well as key indicators to watch in the weeks ahead.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.