<img class="alignnone" src="https://s3.tradingview.com/snapshots/z/ZWbVU088.png" alt="ETH" width="1380" height="809" />

<a href="https://www.tradingview.com/x/ZWbVU088/">https://www.tradingview.com/x/ZWbVU088/</a>

As early as the third trading week on the ETH market, buyers are trying to prove their strength and <a href="https://www.cryptoknowmics.com/news/eth-technical-analysis-buyers-are-fixed-above-2900-3000/">control over the range</a> of $2900-$3000. While other coins are experiencing a significant reduction in pressure from Bitcoin and confidently <a href="https://www.cryptoknowmics.com/news/altcoin-dominance-surges-as-ada-luna-sol-and-others-rise-while-bitcoin-in-consolidation/">shoot up</a>, the ETH market is just laying the foundation. A slight correction in the price to the range of $2900-$3000 showed the weakness of sellers.

However, having lost an important range to influence the ETH market, sellers at low volumes were only able to touch the $2900-3000 range. Leaving behind a pin on the weekly candle, sellers gave a lot of motivation to buyers to take action.

In the weekly timeframe, we see that the global trend of buyers has kept rising. And the next serious target is in the range of $7000-$8000. But what will stand in the way of this target? Let's try to analyze the daily timeframe.
<h2>Technical Analysis of ETH on the Daily Timeframe</h2>
<img src="https://s3.tradingview.com/snapshots/3/3Uckl1Mb.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/3Uckl1Mb/">https://www.tradingview.com/x/3Uckl1Mb/</a>

During the period from 7 to 18 August, sellers tried twice to regain control over the range of $2900-$3000. If in the first case on 9 August, the attempt of sellers to win back an important range happened at high volumes, then on 18 August the picture looked completely different.

Firstly, on 18 August, sellers were unable to update the local low, which they set on 9 August. Secondly, repeated attempts to break the $2900-3000 range took place at lower volumes, with a clear reversal pattern in the daily timeframe. These facts show that buyers have fixed over the important liquidity zone for them and can safely continue their growth trend.

Buyers' first local target is $3500. At this mark, we see that the price in the past slowed down both when moving up and when moving down. This mark can stop the growing trend of buyers for a while and organize another check of buyers for strength in the range of $2900-$3000. This was the last chance for investors to enter the ETH market before the start of a new powerful growth wave.
<h2>The ETHBTC Price Did Not Fix Above the Critical Range</h2>
<img src="https://s3.tradingview.com/snapshots/u/Udpc8lXE.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/Udpc8lXE/">https://www.tradingview.com/x/Udpc8lXE/</a>

The main reason for the rather sluggish behavior of the ETH price is noticeable on the ETHBTC chart. If in a pair to the USDT buyers managed to fix above the important range of $2900-$3000, the critical range of 0.07-0.072 remains under the control of sellers. The price continues to move in the local consolidation channel. It is the consolidation of the ETHBTC price above the range of 0.07-0.072 that will open the last door to a new growth wave. In the meantime, we will have to follow the lazy drift of the ETH price in the range of $3000-$3500.

Ethereum (ETH) Technical Analysis: Will Buyers Reach $7000 by Year End?

As early as the third trading week on the Ethereum (ETH) market, buyers are trying to prove their strength and control over the range of $2900-$3000.

Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

Ethereum (ETH) Technical Analysis: Will Buyers Reach $7000 by Year End?

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