spot_imgspot_imgspot_img

Ethereum Price Analysis: Reversal Potential as ETH Approaches Critical Support Zone

  • 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

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

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.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

XRP Surges Over 9%: Analysts Eye $2 Milestone Amid Altcoin Rally

This article explores the recent surge in XRP's value, surpassing the $0.64 threshold, and the optimistic projections by market analysts for its potential to reach $2, marking a significant milestone amid the altcoin rally.

Bitcoin BTC’s Resilience Shines as Over 1 Million Addresses Fuel Accumulation Surge

In a recent display of resilience, Bitcoin edges close to its all-time highs, buoyed by significant accumulation from over 1 million addresses and insights from leading analysts predicting a bullish market cycle.

Bitcoin Hits Local High with 97% of Addresses in Profit: A Look into HODLer Sentiments

In the wake of Bitcoin's surge to a new local high, an impressive 97% of BTC addresses are now in profit, reflecting robust market health. However, the cautious stance of long-term holders signals mixed market sentiments.

Bitcoin Cash Surges 40% Ahead of Halving and Jessica Upgrade!

In a remarkable 24-hour period, Bitcoin Cash (BCH) soared 40%, driven by anticipation for its halving event and the implementation of an adaptive block size limit algorithm, signaling strong investor confidence and a bullish outlook for the cryptocurrency.

Bitcoin Hits New 2024 High: 671,000 BTC Accumulated by Whales in Key Demand Zone

Bitcoin's impressive rally to a new 2024 high is underpinned by a massive accumulation of 671,000 BTC by one million addresses, highlighting strong investor confidence and setting a robust support level.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.