- If the ETH price closes above the $1824 support for 2 hours, it may rise towards the $1880 and then $1910 resistance levels.
- However, if strong selling pressure comes from the $1910 – $1925 resistance zone, the price may extend the downtrend to the $1880 support.
- In the daily chart of Ethereum, horizontal movements are observed between the $1880 resistance and $1815 support. If the price surpasses the $1880 resistance and closes daily, it can rise to the $1958 levels.
When analyzing Ethereum’s technical chart, it can be understood that it reached the $1848 levels, evaluated the scenarios of rise and fall above the $1824 support in the 2-hour chart, observed horizontal movements in the daily chart, and emphasized the importance of the $1880 – $1815 range as resistance and support zones.
Medium-Term ETH Analysis
Daily ETH/USD Price ChartWhen examining Ethereum’s daily technical chart, horizontal movements are observed between the $1880 resistance level and $1815 support zone. If the ETH price closes daily above the $1880 resistance, it can initially move the uptrend to the $1958 levels.
If the price closes daily above the $1958 level, it can target the $2100 level in the next stage. However, if Ethereum fails to surpass the $1880 resistance, it may extend the downtrend towards the $1815 levels.
If the ETH price closes daily below $1815, it can sustain the downtrend until the critical support range of $1778 – $1749 dollars. If Ethereum receives strong buying reactions from the $1778 – $1749 support zone, it can rise from these levels and target $2200 dollars.
Short-Term ETH Analysis
When examining Ethereum’s 2-hour technical chart, it can be seen that it rose to the $1848 levels with strong buying reactions from the mentioned support range on August 13.
If the ETH price continues to close 2-hour candles above the $1824 support, it may aim to continue its rise towards the $1880 level and then the $1910 resistance level. However, if it encounters strong selling pressure from the $1910 – $1925 resistance zone, it may extend the downtrend to the $1880 support level.
If the Ethereum price starts to close 2-hour candles below the $1824 level, it may extend the downtrend to the $1800 level and then the critical support level of $1791 dollars.
