Ethereum Price Dips Below $4,700 on OKX Amid 1.81% Gain
On August 23, Ethereum price on OKX briefly fell below $4,700, touching $4,699.68 per ETH. Despite this dip, the Ethereum price rose 1.81% over 24 hours. The breach of the $4,700 level signals heightened short-term market volatility. Traders should watch $4,700 as key support and $4,800 as resistance. OKX data indicates sustained trading activity and position adjustments.
Neutral
The short-lived dip below $4,700 suggests increased selling pressure and volatility in the short term. At the same time, ETH’s 1.81% daily gain highlights underlying market strength. These opposing signals – a support breach versus overall price resilience – balance out, leading to a neutral outlook. Traders may see this as a consolidation phase, awaiting clearer directional cues before committing to significant positions.