Bears keep controlling the situation on the market; however, there are some exceptions to the rule.
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ETH/USD
The rate of Ethereum (ETH) has increased by 0.29% over the last 24 hours.
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On the hourly chart, traders should focus on the nearest level at $1,844.7. If the daily candle closes above it, the rise may continue to the $1,850 area. Such a scenario is relevant until the end of the day tomorrow.
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An opposite picture can be seen on the bigger time frame, as the price remains near the support level at $1,816. Traders can start thinking about midterm growth only if the rate gets back to the $1,900 mark and fixes above it.
Image by TradingView
From the midterm point of view, the rate of ETH has made a false breakout of the support at $1,816.
If the bar closes far from it, bulls have a chance to seize the initiative. In another case, the breakout may lead to the ongoing decline to $1,760.
Ethereum is trading at $1,837 at press time.
Source: https://u.today/ethereum-eth-price-analysis-for-august-3