Ethereum dominance breaks 20%: Investors more bullish than ever

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Ethereum price analysis for August 14, 2022, comes on a bullish note for the world’s 2nd biggest cryptocurrency as it is clear that the chances of breaking into the $2000 price level are very high and investors can expect ETH to aim for high prices as well. In the last 24 hours, we confirmed that the price of Ether jumped by almost 0.31% and we can also confirm that the chances of the token making higher highs in the coming days are almost certain ahead of the Merge coming up. The dominance of the Ether token also surge past the 20% level which confirms that ETH is outperforming BTC.

As noted in our ETH price analysis for August 13, 2022, the world’s 2nd biggest cryptocurrency has a major price support at the $1500 price region which has been holding for a considerable amount of time.

The data from CoinMarketCap shows that the trading volume of the coin dropped by 16.09% in the last 24 hours, followed by a 0.54% surge in the market cap. Moreover, the Volume / Market Cap has a value of 0.06123, while the Market Dominance dropped to 20.55%.

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The daily candle for Ethereum opened at a price of $1983 and reached a daily high of $1999. On the other hand, the daily low for ETH stands at a price of $1970. The price of 1 ETH at the time of writing is $1995.

Ethereum price analysis for August 14 on the daily chart

Ethereum price analysis for August 14, 2022, will take into account the data from the daily chart below and 3 major indicators in the crypto space.

Ethereum price analysis

Source: TradingView

The RSI indicator reads a value below 71, which confirms that the Ethereum token is being oversold in the crypto market.

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The MACD line is moving away from the signal line and the histogram remains bullish.

The price action for Ethereum is situated at the upper end of the Bollinger Bands, while we can expect a bullish breakout.

Conclusion

Ethereum price analysis for August 14, 2022, ends on a bullish note for Ether as chances of reclaiming $2K are very high.

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