The crypto market begins to recover over the weekend after an intense week of ups and downs, where the outflow of capital for futures was a catalyst that sent the main asset to values less than five digits.
<ul>
 	<li>ETH recovers after falling below the $172 key support and has gained +0.51% in the last 24 hours.</li>
 	<li>A quick break initiated in the $183.5 area has increased to the new $155.30 support point.</li>
 	<li>Overall, bearish sentiment predominates at 67% or cryptocurrencies.</li>
 	<li>MarketCap has gained +1.16% in the last 24 hours, representing a capital gain of just over $5 billion.</li>
</ul>
<img class="aligncenter" src="https://i0.wp.com/criptotendencia.com/wp-content/uploads/2019/08/analisis-ethereum-300819-5.png?w=660&amp;ssl=1" />

<a href="https://www.cryptonewsz.com/ethereum-price-analysis-eth-manifests-slight-price-recovery/31867/">Ethereum</a> has depreciated against the U.S. dollar during August after not staying above the key zone of $183.50, which was the fulcrum to stay within the symmetrical triangle projected in the short zone 195-200.

Ethereum began the month of August trying to break Fibonacci's retreat level of 38.2% to $239.50 which it momentarily handled smoothly on August 9, 2019, and from there has sentenced its downward trajectory with a key resistance of $245 which it has not been able to reach since then.

Since the rupture of the short zone established for <a href="https://www.cryptoknowmics.com/crypto/is-ethereum-breaking-out-of-altcoins-ethereum-becoming-bigger-for-altcoin-status-report/">altcoin</a> between the levels of $227-$235 with key support at that time of $224.65, we have seen that ETH has not stopped generating new lower lows.

The hope of a possible break in the triangular pattern on the BitMex 1D chart was dashed by falling below the $183.65 resistance zone and generating a downward slide that broke the key support level of $172.10 as we have seen so far.

<img class="aligncenter" src="https://i0.wp.com/criptotendencia.com/wp-content/uploads/2019/08/analisis-ethereum-300819-2.png?fit=660%2C371&amp;ssl=1" />

Now with bear sentiment high and bears attacking the market, we can see a more bearish move in the altcoin with levels close to the $155.30 area projecting high levels of Fibonacci and a continuation of the strategy in short sales orders to get maximum profits of up to two digits, about 12.7% to the $150 minimum limit, set as our second target in this strategy.

Regarding the ETH/BTC pair on the Binance 4H chart, strong resistance at 0.019. Has been tested 5 times, and I would like to see the price break that resistance and claim as support. In case you can't make it, we might see an ETH drop to lower levels as your key support has already been unsuccessfully tested breaking it at 0.01756.

<img class="aligncenter" src="https://i2.wp.com/criptotendencia.com/wp-content/uploads/2019/08/analisis-ethereum-300819-3.png?fit=660%2C371&amp;ssl=1" />
<h2 style="text-align: center">ETH technical indicators</h2>
Aroon @ 1 hour: The Aroon indicator is presented for the bearish pair ETH/USD, with its red signal at the bottom of the chart but parallel and with less strength towards the bottom is its bullish signal.

RSI @ 1 hour: the RSI for ETH/USD has left the oversold area and begins with a steady step into the equilibrium zone.
<ul>
 	<li>Main support level: $155.30</li>
 	<li>Higher Resistance Level: $171.45</li>
</ul>

Ethereum recovers slightly after breaking key support

I am an industrial engineer specializing in blockchain. Enthusiast of cryptocurrencies and writing the latest news regarding the Crypto world.

Ethereum recovers slightly after breaking key support

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