Can Ethereum Drop to $1700? Current ETH Analysis!

  • Today, Ethereum price increased by 1.15% and reached up to $1935.
  • What will happen if Ethereum cannot surpass the resistance level of $1940?
  • Important levels that Ethereum investors should follow!

Will Ethereum make a downward movement? Ethereum Price Prediction! What will be the future of ETH? Current ETH Analysis!

Mid-Term ETH Price Analysis!

12 Hour Ethereum Price Analysis! Source: TradingView

When the current price chart of Ethereum is examined, it is seen that it is moving close to the price resistance of $1937. Unless ETH price can make 12-hour candlestick closures above the level of $1937 mentioned in the analysis, it may make a downward movement from this region.

If the ETH price cannot break the level of $1940 mentioned in the analysis, the first downward target will be the level of $1830.

If Ethereum makes 4-hour candlestick closures below the level of $1930, it may continue its downward movement and experience a drop to the support level of $1785.

If Ethereum makes daily candlestick closures below the level of $1785, the downward target may be the level of $1700.

Short-Term ETH Price Analysis!

3 Hour Ethereum Price Chart Source: TradingView

3 Hour Ethereum Price Chart Source: TradingView

When we examine the short-term price chart of Ethereum, it is seen that it rose to the level of $1935 by taking strength from the important support region of $1870.

If the ETH price makes 2-hour candlestick closures above the level of $1940, it can realize the upward movement to the levels of $1958 – $1984.

If the ETH price cannot make 4-hour candlestick closures above the level of $1984, it may start the downward movement from this region.

Can Ethereum Drop to $1700? Current ETH Analysis! news was first published on CoinOtag.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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