Can Ethereum Reach $2000 and Start a New Bull Run? ETH Analysis for Traders!

• When examining Ethereum’s hourly price chart, it can be seen that candlestick closures above the $1887 level are important for the continuation of the upward trend.
• ETH’s price may continue its downward movement unless it makes 4-hour candlestick closures above the $1930 level.
• If Ethereum’s daily candlestick closures occur below the $1830 level, the decline may expand to the range of $1823 – $1793.

When examining Ethereum’s price chart, it can be seen that certain levels are important and certain closures are necessary for the continuation of the upward trend. However, the risk of decline should not be ignored, and support areas should be closely monitored.

Medium-Term ETH Price Analysis!

8 Hourly ETH/USD Price Chart

When examining Ethereum’s 8-hour price chart, it can be seen that it is moving horizontally in the range of $1828 support and $1937 resistance.

ETH’s price may make a downward movement towards the $1828 levels as long as it makes 4-hour candlestick closures below the $1937 level.

However, if Ethereum’s price reaches the support range of $1828 – $1808 and starts the upward movement from this area, its first target may be the $1937 level.

Ethereum may be targeted for an upward movement in the range of $1988 – $2057 if it rises above the $1937 level without falling to the aforementioned support range.

Short-Term Ethereum Price Analysis!

1 Hourly ETH/USD Price Chart

When examining Ethereum’s hourly price chart, it can be seen that the previous short position is still ongoing. In the previous update, we suggested taking profits and placing stops at the entry point when a %3 decline occurred.

When the short-term ETH price chart is updated, ETH’s price may make an upward movement towards the $1930 levels as long as it continues to make hourly candlestick closures above the $1887 level.

However, if ETH’s price fails to make 4-hour candlestick closures above the $1930 level, it may continue its downward trend towards the $1830 levels.

If Ethereum’s price makes daily candlestick closures below the $1830 level, the decline may expand to the range of $1823 – $1793.