Can Ethereum Trigger a Rise? ETH Analysis

  • Ethereum continues its horizontal movements on the hourly chart.
  • Closing above the level of $1715 for ETH may increase its potential for growth.
  • The level of $1779 should be monitored as a critical resistance point, and if it is surpassed, the target could be $1800.

According to Ethereum’s hourly technical analysis, while the price continues its horizontal movement, closing above the resistance level of $1715 may increase its potential for growth.

Medium-Term ETH Price Analysis

Daily ETH/USD Price Chart

When Ethereum‘s medium-term technical chart is examined, it is seen that the ETH price is trading below the resistance level of $1763.

If the ETH price continues to stay below the level of $1763 mentioned in the analysis, it may continue its downward trend.

Ethereum may expand its decline to the level of $1684 if it cannot surpass the level of $1763 and close above it. However, ETH may want to start an uptrend by breaking and holding above the resistance of $1763.

If ETH strengthens the level of $1763 as support, its next target could be the level of $1800.

In summary, according to Ethereum’s medium-term technical analysis, the resistance level of $1763 should be monitored as an important point, and the price holding above this level may increase its potential for growth.

Short-Term ETH Price Analysis

1 Hour ETH/USD Price Chart

1 Hour ETH/USD Price Chart

When Ethereum’s hourly technical chart is examined, it is observed that the price exhibited a horizontal movement as stated in yesterday’s analysis.

If the ETH price continues to close hourly above the level of $1715 mentioned in the analysis, it may continue its uptrend towards the level of $1779.

ETH price may continue its uptrend towards the level of $1800 if it closes hourly above the level of $1779.

However, if Ethereum stays below the level of $1779 in the short term, downward movements are more likely. If ETH cannot surpass the resistance level, downward movements towards the level of $1655 may be observed.

In summary, according to Ethereum’s hourly technical analysis, the level of $1715 should be monitored as an important support point, and the level of $1779 is a critical resistance level. Whether the price breaks or fails to break this level will be important in determining the future trend.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

KOGE Token Faces $5.18 Million MEV Attack Amid Binance Alpha Wash Trading Scandal

COINOTAG News reports that on June 8th, an on-chain...

Bitcoin Whale Increases Holdings to 750 BTC, Securing $39M Unrealized Gains

According to COINOTAG News on June 8th, data from...

Trump’s “Big Beautiful Act” Gains Momentum Amid Strong GDP Growth and Tariff Success

Trump advisor Dick Morris recently highlighted two pivotal economic...

Bitcoin Faces Mixed Signals Amid $3 Billion Liquidation as Institutional Demand Drives Crypto Stock Surge

Bitcoin recently traded below its 7-day moving average, signaling...

Ethereum ETF Records Longest 15-Day Net Inflow Streak with $3.33 Billion Surge Amid 40% Price Rally

Ethereum ETFs have demonstrated robust investor confidence, registering a...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img