- Ethereum price experienced a decline as it couldn’t sustain above the $1930 resistance level.
- If ETH surpasses the $1930 resistance, the upward movement can continue up to $1963 levels.
- Key support levels for Ethereum are at $1791-$1770 and $1834 levels.
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Today, Ethereum price experienced a decline as it couldn’t sustain above the $1930 resistance level, but if ETH surpasses this resistance, the upward movement can continue. The support levels of Ethereum should be taken into consideration.
Medium-Term ETH Analysis
Daily ETH/USD Price Chart
Today, Ethereum price experienced a decline to $1885 levels, but it rebounded to $1918 levels with strong buyer demand. Ethereum investors predict that if daily candlestick closure is achieved above the $1930 resistance, ETH’s target will be $2100.
Ethereum’s technical chart confirms investors’ expectations. If the ETH price achieves a daily candlestick closure above the $1930 level and sustains it, it can realize the upward movement up to $2100 levels.
However, if Ethereum fails to achieve a daily candlestick closure above the $1930 resistance, it can initiate the downward movement from this level. The mentioned level of $1778 in the analysis is observed as the downward target for ETH.
Prior to Ethereum’s support at $1778, there is another significant support at $1834 levels. Many Ethereum whales are waiting for the $1778 level to add Ethereum to their wallets.
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Short-Term ETH Analysis
2-Hour ETH/USD Price Chart
Ethereum price experienced a decline as it couldn’t sustain above the $1930 resistance. However, if ETH can surpass the $1930 resistance with daily candlestick closures and sustain above this level, it can continue the upward movement up to $1963 levels.
If Ethereum fails to break the $1930 resistance, it can extend the downward movement towards $1873 levels. If the ETH price achieves daily candlestick closures below $1873, it can continue the downward movement up to $1828 levels.
Another significant support range for ETH is at $1791-$1770. If Ethereum price experiences a decline towards this range, many ETH investors are waiting for the opportunity to make spot purchases at these levels.
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