Ethereum (ETH) and Cardano (ADA) Price Analysis
Ethereum (ETH) and Cardano (ADA) Price Analysis

Ethereum (ETH) and Cardano (ADA) Price Analysis

By R.L. Bryer - 24 Aug 2021

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Ethereum (ETH) Price Analysis

Ethereum (ETH) price is back to blazing the path that other cryptocurrency projects hope to imitate – up only.

After the launch of EIP-1559, Ethereum was almost certainly going to at least trade sideways for some time and had a bit of a hangover after the price trended so bullishly in anticipation of the improvement proposal.

So, with ETH running up towards the top of the range, we’ve been watching closely at $3,5k. What can traders expect in the coming days from this asset?

Ethereum’s 4hr chart is a thing of beauty, and Stargazer_fx is showing on the chart below that there’s a lot more upside yet to come if the macro trend continues to cooperate.

The next bullish target on Ether on the 4hr chart is $3,579, followed by a secondary target of $3,880 and a third target of $4,168.

If bulls continue to control the level Ether’s been trading in above $3k, then a test of the first target should be coming in time.

Ether’s 24 hour range is $3,175-$3,377 and the 7 day range is $2,983-$3,377. ETH’s 52-week range is $320-$4,352, and Ether’s 30-day average price is $2,837.

Ethereum price closed Monday’s daily candle worth $3,323 and in green figures for the second day in a row.

Cardano (ADA) Price Analysis

Cardano spent much of Monday’s daily candle with double-digit gains by percentage. ADA is now the number #3 cryptocurrency project by market capitalization and set multiple new all-time highs on Monday before nearly cracking $3.

ADA’s new all-time high is $2.94, and the asset is now +134% against the U.S. Dollar over the last 30 days, +63.63% against BTC, and +53.98% against ETH over the same duration.

The chart below from P_S_trade shows Cardano setting up to head towards much higher prices potentially and above $4 if bulls have their way.

The bullish uptrend on Cardano’s daily chart is intact above the trendline at $1.12. If bears have any chance at regaining control on the 1D timescale, they need to crack $1.80 firstly because bulls are in absolute control above that price.

ADA’s 24-hour range is $2.84-$2.94, and the 7-day range is $1.92-$2.94. Cardano’s one-year range is $.075-$2.968, and ADA’s 30-day average price is $1.71.

ADA price closed the weekly timescale on Sunday in green figures for the 6th consecutive week.

On Monday, Cardano closed its daily candle worth $2.91 and in green figures for a second consecutive day.


R.L. Bryer

Since 2009, the onset of the bitcoin network, R.L. Bryer has been covering the space. He is the author of Blockchain: Project Renaissance Volume I and II. He's also been the guest of countless bitcoin and cryptocurrency related podcasts throughout the world. Every opportunity, he speaks on or writes about Austrian Economics and how bitcoin is the world's preeminent money.

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