- Unless Ethereum makes daily candlestick closures above the level of $1830, it may continue its downward trend and fall to the level of $1780.
- If daily candlestick closures are made below the level of $1780, Ethereum’s downward movement may expand to the level of $1740.
- If Ethereum continues to make daily candlestick closures below the level of $1940, the downward trend may continue to the level of $1686.
When examining Ethereum’s price chart, it can be seen that it moves around certain support and resistance levels. In this analysis, evaluations have been made on Ethereum’s current situation and possible price movements.
Short-Term ETH Price Analysis!
4 Hour ETH/USD Price Chart Source: TradingView
When examining Ethereum’s 4-hour price chart, it can be seen that the support zone at the level of $1830 has been broken and this level has become resistance again.
The price of ETH may continue its downward trend and have the potential to fall to the level of $1780 unless daily candlestick closures are made above the level of $1830.
If Ethereum makes daily candlestick closures below the level of $1780, it may expand its downward movement to the level of $1740.
Medium-Term Ethereum Price Analysis!
12 Hour ETH/USD Price Chart Source: TradingView
When examining Ethereum’s 12-hour price chart, it can be seen that it is exhibiting a horizontal movement below the important resistance zone of $1940.
The price of ETH may continue its downward trend to the level of $1686 as long as it continues to make daily candlestick closures below the level of $1940.
If Ethereum makes daily candlestick closures below the level of $1686, it may expand its downward movement to the level of $1625.
