Ethereum (ETH) Price Prediction for August 23

The price of Ethereum today is around $4,280. It has gone up 1.3% since the last session, but it is still below the $4,355 resistance level. ETH hit a high of about $4,792 earlier this month, but it has been going down inside a descending channel since then. Sellers are protecting the $4,400–$4,450 supply band. Bulls need to show strength by taking back this area, or else they risk going down even more to $4,100.

Ethereum Price Forecast Table: August 23, 2025

Indicator/Zone Level / Signal Ethereum price today $4,280 Resistance 1 $4,400 (channel cap) Resistance 2 $4,511 (Fib 0.618) Support 1 $4,135 Support 2 $4,066 / $3,955 RSI (30-min) 46.0 (Neutral to Weak) MACD / DMI (4H) Bearish bias, sellers in control Bollinger Bands (4H) Mid-band $4,280, lower $4,103 EMA Cluster (20/50/100/200) Mixed, 20 above but capped below 100 Netflow (Aug 22) +$138M inflow (bearish pressure) Short-Term Trend Bias Neutral to Bearish below $4,400

What’s Happening With Ethereum’s Price?

ETH price dynamics (Source: TradingView)

ETH’s daily chart shows a series of strong break-of-structure moves that pushed the price up from $2,000 in April to $4,700 by early August. But recent candles show a change of character (CHoCH), with liquidity moving and a weak high forming near $4,750. The closest demand zone is between $3,500 and $3,600. This means that this is still the main support area if the bearish trend continues.

ETH price dynamics (Source: TradingView)

On the 4-hour timeframe, Fibonacci retracement levels outline the current struggle. Price is hovering around the 0.382 level ($4,343), while the 0.5 retracement ($4,428) and 0.618 retracement ($4,511) form immediate resistance. A rejection here could confirm that ETH remains locked inside its corrective cycle, while a breakout above 0.618 may re-open the path toward $4,636 and $4,792.

The DMI on the 4-hour chart shows ADX flattening with -DI holding above +DI, a sign that sellers still have control despite today’s bounce.

Why Ethereum Price Going Down Today?

ETH price dynamics (Source: TradingView)

On the 30-minute chart, RSI has cooled to 46.0 after failing to sustain above 57.0, reflecting weakening intraday momentum. Meanwhile, VWAP shows ETH trading below $4,304, signaling price is struggling to hold session value levels. The descending channel on the 4-hour chart continues to compress price, with resistance near $4,380–$4,400 rejecting multiple times.

ETH On-Chain Activity (Source: Coinglass)

Exchange flow data also reinforces near-term caution. Net outflows dominated the past month, supporting the summer rally, but August 22 showed a notable net inflow of $138M, a sign of rising sell-side pressure as traders move coins back onto exchanges.

Bollinger Bands, EMAs, and Channel Structure

ETH price dynamics (Source: TradingView)

The 4-hour Bollinger Bands remain relatively wide, with ETH testing the mid-band near $4,280. Closing below this level would shift focus to the lower band at $4,103. Simultaneously, the EMA cluster paints a mixed picture: ETH is holding the 20 EMA ($4,280) but remains below the 50 EMA ($4,306) and 100 EMA ($4,412). The 200 EMA at $3,956 still underpins the larger uptrend, but near-term signals remain corrective.

ETH price dynamics (Source: TradingView)

The descending parallel channel highlights this dynamic. Price is pinned between $4,100 support and $4,400 resistance. Each rejection near the upper boundary has led to sharp intraday declines, showing that bulls have yet to regain conviction.

ETH Price Prediction: Short-Term Outlook (24H)

In the next 24 hours, Ethereum price action hinges on the $4,280–$4,300 pivot. If ETH clears $4,400 with volume, a test of $4,511 (Fib 0.618) and $4,636 could follow quickly. Above this, $4,792 remains the next major target.

On the downside, a failure to hold $4,280 could expose $4,135 first, with $4,066 and $3,955 as deeper downside levels. Given rising exchange inflows and channel resistance, the short-term bias leans neutral-to-bearish unless bulls reclaim $4,400 convincingly.

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