Log in

PRO
Technical Analysis

Ethereum (ETH) price prediction today: Is $2,200 the next ETH bounce?

Updated: Aug 16, 2024
Published: Aug 9, 2024
0
Share:

Ethereum shows resilience after a sell-off, with key support at $2,200 offering a potential swing opportunity for traders.

Please note: The video above is set to start at the 06:39 minute mark, featuring an in-depth technical analysis of Ethereum (ETH). Ethereum has shown resilience after a significant sell-off, bouncing back within its established range. While this bounce is encouraging, it doesn't negate the possibility of further downside.

Our focus is on a key support level at $2,200, where we see a high probability swing opportunity. A small position with 2x or 3x leverage could be beneficial, particularly if ETH re-enters this lower range. The goal here would be to capitalise on a potential rebound back into the higher liquidity zones, offering a favourable risk-to-reward setup.

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.


Educationally, it's essential to recognise the importance of understanding market behaviour patterns. Ethereum's retracement to the 61.8% Fibonacci level, for example, is a classic technical setup that often leads to strong recoveries. By studying past price action and correlating it with current movements, traders can better anticipate future moves and make more informed decisions. Ethereum's previous retracement levels have led to substantial rallies, and if history repeats itself, there could be significant upside from the $2,200 level.

A candlestick chart showing Ethereum price movement with key support and resistance levels highlighted along with a target zone

What is Ethereum: Ethereum (ETH) is a groundbreaking decentralized platform that facilitates the creation and execution of smart contracts and decentralized applications (dApps) without the need for intermediaries. Launched by Vitalik Buterin in 2015, Ethereum's innovative blockchain technology enables a wide range of applications and has become a cornerstone of the decentralized finance (DeFi) space. Ethereum's ATH is $4,868. 

How to buy ETH:

  • Via Centralized Exchange (CEX):
    1. Select a CEX like Binance, Coinbase, or Kraken.
    2. Sign up and complete any verification processes.
    3. Deposit funds into your account.
    4. Go to the ETH trading section and purchase ETH.
   

100% Success Money Back Guarantee

If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Terms & Conditions apply

Star

Trusted by 300,000+ traders

Take your next step towards crypto success

Save 50%

$799/year

Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.

VisaCardImageMsCardImageCoinbaseCardImageSolanaCardImage

For your security, all orders are processed on a secured server.

What’s included in Pro:

  • Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked

  • 24/7 access to experts with 50+ years’ experience

  • All of our top token picks for 2025

  • Our latest memecoins pick with 50X potential

  • On hand technical analysis on any token of your choice

  • Weekly livestreams & ask us anything with the team

  • Daily insights on Macro, Mechanics, and On-chain

  • Curated list of top upcoming airdrops (free money)

Our track record speaks for itself

With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.

/images/advertorial/corpcomm3.webp
/images/advertorial/corpcomm4.webp
/images/advertorial/corpcomm5.webp

Frequently Asked Questions

Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.

No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.

Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.

We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.

Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.

Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.

If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Recommended from Cryptonary
BTC, ETH and More: Breakouts Loom on Pennants, Key Levels Ahead
PRO
Market Direction
BTC, ETH and More: Breakouts Loom o...The market is coiling in pennants after the inflation beat. All eyes on major resistance and breakdo...
6 min read
Oct 24, 2025
Market Pulse: Softer Inflation Fuels Fed Cut Hopes
PRO
Market Pulse
Market Pulse: Softer Inflation Fuel...Inflation surprised to the downside, easing Fed pressure and sparking rebounds in both TradFi and BT...
3 min read
Oct 24, 2025
Market Pulse: Inflation Set for Steady Print, BTC Eyes Range Breakout
PRO
Market Pulse
Market Pulse: Inflation Set for Ste...Tomorrow’s inflation numbers are expected to be flat, but the Fed's focus has shifted. BTC sits at r...
4 min read
Oct 23, 2025