Ethereum (ETH) Price Prediction for August 8
Main Idea
Ethereum price is consolidating below a key resistance level, with potential for a breakout to $4,000 if bulls sustain momentum, but risks remain if support levels are breached.
Key Points
1. Ethereum price is currently around $3,692, consolidating below a key supply zone near $3,730, which previously triggered rejections.
2. Resistance levels to watch include $3,733 (Bollinger Band ceiling), $3,880 (prior high), and $4,092 (major supply zone), while support levels are $3,630 (EMA cluster) and $3,400 (rising trendline base).
3. Short-term exhaustion near macro resistance has caused a pullback, with indicators like Bollinger Bands and RSI showing hesitation from buyers.
4. The 4-hour Supertrend indicator is bullish above $3,489, and DMI shows +DI leading -DI, but ADX indicates trend strength is still developing.
5. A net inflow of $49.05 million on August 7 suggests bullish sentiment, but a failure to break $3,733 could lead to a retest of lower support levels.
Description
After rising above $3,800 in July, Ethereum price is consolidating just below a key supply zone that previously triggered steep rejections. The Ethereum price today is holding steady around $3,692, with buyers attempting to re-establish short-term dominance near a local demand zone. The key question now is whether bulls can sustain this strength and retest the $4,000 mark. Ethereum Price Forecast Table: August 8, 2025 Indicator/Zone Level / Signal Ethereum price today $3,692 Resistance 1 $3,733 ...
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