The last weeks of Ethereum (ETH) are ahead of its competitors thanks to the growing interest of institutional investors and the influx of funds in exchange investment funds (ETF).
According to the FINBOLD -based price forecasting model, by August 31, the price of ETH can reach $ 3800 (+3.41% compared to the current price).
The forecast is based on several technical indicators, including the convergence of sliding medium (MACD), relative force (RSI), stochastic oscillator, macd inclination and a 50-day simple sliding medium (SMA).
ETH continues to bargain much higher than its 50-day simple sliding average (SMA) at $ 2752, which indicates the preservation of a bull impulse. However, the MACD line at the level of 311.498 with a signal line at 250.056 and the positive value of the histogram 61,443 indicates the strong basic pressure of the buyers.
The growth of the MACD signal line grows, which implies the continuation of the ascending pulse, however, the tilt of the histogram of the MACD was leveled to a value of 1.138, which indicates a slowdown in the pulse pace.
Short -term indicators signal the overstrain. The 7-day RSI ranges at around 80, decreasing from the maximum last month at 87. And although the RSI is still in the overestimation zone, the RSI reduction against the background of price growth indicates a divergence, which is often considered as a harbinger of consolidation or rollback.
The stochastic oscillator also remains at a high level between the marks of 83 and 89, which once again confirms the opinion that ETH can approach the short -term peak.
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Source: Cryptocurrency
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