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10.08.202218:04 Forex Analysis & Reviews: Ethereum short-term analysis for August 10th, 2022.

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Black lines- bullish channel

Ethereum is making new higher highs with price respecting the lower channel boundary. Trend remains bullish and bulls continue to be supported by the bullish channel they are in since the beginning of July. Recent low at $1,656 is important short-term support. The lower channel boundary is at $1,720. So the area between $1,720-$1,660 is important support that if broken will give us the first reversal signal. Until then price can continue higher towards $1,910.

Alexandros Yfantis
Analytical expert of InstaForex
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