- 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
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.
