- If Ethereum fails to close 30-minute candles above the $1827 level, a downward movement towards the gray area indicated on the chart may occur.
- If ETH manages to bounce back from the $1775 – $1787 support range, it can achieve an upward movement towards the $1828 level.
- If Ethereum closes daily candles above the $1847 level, the next resistance point will be $1930.
When analyzing the current price of Ethereum, we focus on its movement above the $1827 level. It is also important to observe how ETH moves between specific support and resistance zones.
Medium-Term ETH Analysis
According to the current technical chart, Ethereum is moving above the $1777 resistance level. As mentioned in previous analyses, the upward movement started when ETH broke the $1777 level.
If Ethereum continues to close daily candles above the $1777 level, it can achieve an upward movement towards the $1847 level. Currently, ETH is trading around $1811.
However, if ETH fails to sustain the upward movement at the $1847 level, a downward movement towards the $1777 region may occur again.
If ETH successfully closes daily candles above the $1847 level, the next significant resistance point will be $1930. If Ethereum surpasses the $1930 resistance, it can experience an upward movement towards the $2000 level.
Short-Term ETH Analysis
15-Minute ETH/USD Price Chart
According to the price analysis of Ethereum, if ETH fails to close 30-minute candles above the $1827 level, a downward movement towards the gray area indicated on the chart may occur.
If ETH manages to bounce back from the $1775 – $1787 support range mentioned in the analysis, it can potentially achieve an upward movement towards the $1828 level.
In order for Ethereum to initiate a downward movement towards the mentioned support range, it first needs to close candles below the $1800 level. If ETH closes candles below $1800, it can extend the downward movement towards the $1775 – $1787 level.
