Ethereum Bulls And Bears At Crossed Road – Is $1,000 The Next Target?

Ethereum price got rejected from $2,000 despite showing strong bullish signs against Tether (USDT) ahead of “The Merge.” The price of Ethereum has struggled to regain its bullish momentum as this has created a mixed feeling between Ethereum bulls and bears. (Data from Binance) Related Reading: WATCH: Bitcoin Versus DXY And The Dangerous TD9 Setup | Daily TA August 30, 2022 Price Analysis Of ETH On The Four-Hourly (4H) Chart The price of ETH on the 4H chart has continued to look bullish, trying to hold above the support area at $1,500. ETH price trades below the 50 EMA on the 4H chart, with more buy orders in this region. After forming a bullish divergence on the 4H chart as the price was oversold, the ETH price rallied to $1,600, trying to break above the 50 EMA, acting as resistance for the ETH price. The 50 EMA price corresponds to the resistance at $1,620. The Relative Strength Index (RSI) for ETH on the 4H chart is above 45, indicating moderate buy volume for ETH price. Four-Hourly (4H) resistance for ETH price – $1,620. Four-Hourly (4H) support for ETH price – $1,500. Price Analysis Of ETH On The Weekly (1W) Chart The price of ETH found its weekly low at $1,000 and quickly bounced off the area where it has formed good support; ETH price rallied to a region of $2,030 as the price was rejected, preventing ETH price from trending higher. Despite showing great bullish signs, ETH is trading at $1,540 below the...