Ether Continues To Sideways Trade In Low Volatility

(MENAFN- DailyFX (IG)) Ether sideways trades ​Ether bullish case:

Ether remains within a tight sideways trading range but may resume its medium-term uptrend on a rise above Sunday's high at $4,498.16. In this scenario the 27 August high at $4,661.57 would possibly be next in line.

Further up lie the mid-August high at $4,789.73 and the 24 August record high at $4,954.16.

This bullish technical scenario may play out while Monday's low at $4,214.82 holds on a daily chart closing basis.

Ether bearish case:

Were Ether to slip through its recent low at $4,214.82, the key $4,105.53-to-$3,941.08 support zone may be revisited. It is made up of the March, May and December 2024 as well as the July 2025 highs and as such should act as strong support.

If not, the 21 July high at $3,858.25 may be reached as well.

Only a major bearish reversal and fall through the next lower early August low at $3,356.65 would increase the odds of a medium-term top forming.

In this scenario the area between the February-to-June highs at $2,879.45-to-$2,733.27 might be retested.

Ether daily candlestick chart Source: TradingView Important to know

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