By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

The second cryptocurrency in terms of capitalization, the Ethereum, continues a declining correction. The test of the important support level of $165 is close; if it happens, the buyers will have to demonstrate a bounce in order to prevent further decline. It is possible that the ETH is falling in connection with a strong correction of the Bitcoin. All altcoins, in general, remain under pressure, and some say that the times of the bullish rally are nearly over.

However, on August 10th, 2019 Nick Patel carried out a poll on his Twitter account, asking the crypto community about the possibility of the EURUSD rise above $1,000. 54% of the answers turned out in favor of such growth. So, most are still sure of an upcoming wave of growth. At the same time, 34% of non-professional interviewees voted against the growth of the second world cryptocurrency to the area of last year local maximums. The ETH is trading around $180, so, the rise above $1,000 is more than 5.5 times growth, which…

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Source: https://themerkle.com/ethereum-price-prediction-and-analysis-for-august-16th-eth-declining-crypto-community-expecting-growth/