FX.co ★ Ethereum analysis for August 18th, 2022.

Red lines- bullish channel

Ethereum is trading around $1,870. Trend remains bullish as price continues making higher highs and higher lows while at the same time respecting the bullish channel boundaries. Price is right on top of the lower channel boundary. Support is critical at $1,830-$1,840. A break below this level would be a bearish signal. A pull back and exit out of the bullish channel is justified at current levels, so bulls need to be very cautious if $1,830 fails to hold. As long as this support holds, the upside potential for Ethereum is towards $2,020.