Ethereum Price Analysis: Reversal Potential as ETH Approaches Critical Support Zone
ETH
ETH/USDT
$17,715,663,566.69
$3,171.49 / $3,065.55
Change: $105.94 (3.46%)
-0.0016%
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Contents
- Ethereum (ETH) is experiencing a downward trend in the 2-hour price chart and a drop towards the $1830 support.
- If the price of ETH reverses from the $1821-$1800 range, it can continue its upward movement to the $1930 level.
- Long confirmations should be sought when ETH approaches the specified support range, and candlestick closures below the $1790 level can be followed as a stop level.
When we examine Ethereum’s price chart, we observe that it is in a downward trend and experiencing a drop towards the $1830 support. If ETH reverses from the specified support range, it can continue its upward movement.
Medium-Term Ethereum Price Analysis
8 Hour ETH/USD Price Chart
When Ethereum’s 8-hour price chart is examined, it is seen that the specified important resistance area is at the $1892 level.
However, since the ETH price could not achieve daily candlestick closures above the $1892 level specified in the analysis, it experienced a decline. Currently, ETH is trading at around $1847.
According to technical analysis, when Ethereum’s charts are examined, it is observed that it is moving close to an important support area at the $1828 level. If ETH holds above the $1828 support, it can start its upward movement towards the $1937 level.
However, if ETH achieves 4-hour candlestick closures below the $1828 level, it can expand its downward movement to the $1805 level.
If the Ethereum price falls below the $1779 level with a sudden drop, it can realize its downward movement towards the $1740 level.
Short-Term ETH Price Analysis
2 Hour ETH/USD Price Chart
When Ethereum’s 2-hour price chart is examined, it is observed that it is in a downward trend and experiencing a drop towards the $1830 support.
If the price of ETH reverses from the $1821-$1800 range specified in the analysis, it can continue its upward movement to the $1930 level.
Therefore, when the ETH price approaches the specified support range, it is important to look for long confirmations. Candlestick closures below the $1790 level can be followed as a stop level.
However, if the price of ETH achieves 2-hour candlestick closures below the $1800 level, it may show a tendency to continue its downward movement.