- Ethereum experienced a drop of more than 6% today.
- Ethereum price reached the level of $1860 today.
- What will be the future of Ethereum? Will the drop continue?
Critical support and resistance levels that Ethereum investors should follow! Will Ethereum continue to fall? Current ETH analysis!
Medium-Term ETH Price Analysis
12 Hour ETH Price Analysis Source: TradingView
We have examined Ethereum’s current price chart. The ETH price experienced a drop after encountering sales from the critical Fibonacci zone.
If the ETH price retests the 1937$ resistance zone mentioned in the analysis, short confirmations with stop above the 1937$ level can be sought with 4-hour candlestick closures.
ETH price needs to make daily candlestick closures above the 1937$ level to continue its upward movement.
If Ethereum cannot make daily candlestick closures above the 1937$ level, it may want to realize the drop to the 1640$ levels mentioned in the analysis.
Critical Support and Resistance Zones
When we examine Ethereum’s critical support and resistance zones, the nearest support zone is at the level of $1830.
If the ETH price cannot make 4-hour candlestick closures above the 1830$ level, it may realize the drop to the 1780$ levels first.
Another important support zone for ETH is at the level of 1686$. ETH price may want to realize the liquidation of long positions formed in this zone.
