Ethereum (ETH) Price Analysis for September 8

Bulls have continued their growth today as most of the coins are trading in the green zone.

ETH/USD

Ethereum (ETH) remains one of the biggest gainers, going up by 5% over the last day.

On the hourly chart, Ethereum (ETH) is looking bearish after a failed attempt to break the resistance level at $1,651. If sellers’ pressure continues, the fall may continue to the $1,560 mark very soon.

On the daily time frame, the situation is unclear as the price is located within yesterday’s candle. If buyers want to seize the initiative, the growth should lead to the test of the zone of $1,650-$1,700. Only in this case, there are chances to see a midterm bull run by the leading altcoin.

On the weekly chart, Ethereum (ETH) has made a false breakout of the $1,647 mark, showing that bulls might face some difficulties ahead of the growth. However, if bulls can return the rate by the end of Saturday to $1,650, the upcoming week might be bullish for ETH.

Ethereum is trading at $1,609 at press time.

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