Ethereum (ETHUSD) Price Forecast: August 22
There is a possibility for the ETHUSD price to retest its previous high of $2142.85 resistance level soon the coin is now approaching the oversold region of the market. However, if the forces from buyers in the market should increase and the current support level at $1661.83 holds, the coin price may possibly turn upside to retest the above-mentioned previous high and beyond.
Key Levels:
Resistance Levels: $1900.00 $2000.00, $2100.00
Support Levels: $1600.00, $1500.00, $1400.00
ETH (USD) Long-term Trend: Bearish (Daily Chart)
The Ethereum price is forming lower lows and lower highs on its long-term chart. Further, the price is trading below the two EMAs; it means that it’s in a bearish market zone at the moment. This is due to the high inflow from the sell traders. However, there is about to be a turnaround for the ETHUSD-buying traders as the selling pressure will soon be exhausted.
The sustained pressure from the sell traders to a $1681.00 low value in the past few have made the crypto price remain below the supply trend levels in its recent low.
Actions from the short traders further dropped the price of Ethereum to a $1661.83 low value below the supply levels as the daily chart commenced today.
Thus, the price of ETHUSD is set to advance further if the current support level holds in place and the buying traders can redouble their efforts and push above the previous high at the $2142.85 level.
Adding to that, the crypto is set to retest the $2142.85 resistance level soon as the coin market now approaches the oversold region.
This means that the buying crew will resume pushing the price of Ethereum to the positive side, in this case, the crypto price might turn positive to retest the $2142.85 high level in the days ahead in its long-term perspective.
ETH (USD) Medium-term Trend: Bearish (4H Chart)
The coin also trades in a bearish trend market in the medium-term outlook. This is due to the high impact of short-term traders on the price flow. 
The sell traders made a downward move to the $1664.83 support level before the end of yesterday’s session. This gave sellers more strength to continue with the trend in its recent low.
Actions from the bears further dropped the price of Ethereum down to the $1661.83 support level below the two EMAs as the 4-hourly chart resumes today.
Hence, should the bulls exchange hands with the sell traders and close above the $1870.63 resistance value, additional intraday gains would be recorded for the buy investors.
Additionally, the price of ETHUSD might possibly retest the $2142.85 resistance level soon as the coin market price now approaches the oversold region, this will compel the bulls to resume the upward move and in this case, the price might push higher above the $2000.00 supply mark and beyond in the days ahead in its medium-term time frame.
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