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**Ethereum (ETH) Price Prediction for August 11**
The Ethereum (ETH) price is currently trading at $4,290, with a 1.19% increase since yesterday. As we approach the start of the week, it’s crucial to consider the market trends and potential future movements.
According to recent data, the rate of growth in the cryptocurrency market has been influenced by the growth pattern on the first day of the week, as suggested by CoinStats. On this basis, we will make an attempt to forecast ETH’s price for August 11.
The hourly chart indicates that the price of ETH is likely headed towards the local resistance level at $4,343. If buyers continue to exert pressure, it can be anticipated that a test of this resistance may occur by tomorrow.
From a midterm perspective, we should focus on the weekly candle closure near the $4,332 mark. A break above this level could potentially result in enough energy being accumulated for the price to move up towards the $4,500 area.
In conclusion, it is crucial to consider both short-term and long-term market trends when making predictions about ETH’s future price movements.
Source: u.today
