Ethereum (ETH) Price Analysis for September 3

Sellers maintain their pressure, according to CoinStats.

Top coins by CoinStats


The price of Ethereum (ETH) has almost not changed since yesterday.

Image by TradingView

On the hourly chart, the price of Ethereum (ETH) has bounced off the local support level at $1,631. If buyers can hold the mark above it, the upward move may continue to the resistance around $1,640 tomorrow.

Image by TradingView

On the daily time frame, the rate of ETH is trading sideways, which is confirmed by low volatility. The volume keeps falling, which means that neither side is ready for a sharp move. 

All in all, consolidation in the area of $1,620-$1,660 is the more likely scenario for the next few days.

Image by TradingView

On the bigger chart, traders should focus on the bar closure in terms of the nearest level at $1,571. If the candle closes near it, the drop can continue to the vital level of $1,500.

Ethereum is trading at $1,571 at press time.

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