Ethereum Price Commentary and Analysis! Downtrend May Continue!

  • Ethereum has experienced a drop of more than 5% in the last 2 days.
  • If Ethereum cannot hold onto the support of $1780, where will its target be?
  • What levels should Ethereum investors wait for in terms of spot investments?

Will Ethereum continue to fall? What will Ethereum’s future be? Current ETH Price Analysis!

ETH Price Comment Analysis! Will the Fall Continue?

2 Hour ETH/USD Price Chart Source: TradingView

When we examine the current Ethereum price chart, we see that it is trying to hold onto the important support zone of $1817.

Our ETH analysis shared 2 days ago resulted in a 5% drop from the mentioned zone. Click here to review the analysis.

If the ETH price makes 2-hour candlestick closes below the $1817 level, it can realize the downward movement to the $1779 levels.

If Ethereum gains strength from the support range in the analysis and starts a new rise, its target will be $1900 levels.

What Levels Should Medium-Term ETH Investors Wait For?

Daily ETH/USD Price Chart Source: TradingView

When we examine Ethereum’s medium-term price chart, the important support zones are as indicated in the analysis.

If the Ethereum price makes daily candlestick closes below the $1779 level indicated in the analysis, it may experience a drop to the $1676 level indicated in the analysis.

The suitable price range for making spot investments in Ethereum is seen as $1677 – $1610. If the Ethereum price makes a turnaround from this range, its new rising trend target will be $2500 levels.

If the ETH price makes daily candlestick closes below the $1600 level, the support levels indicated in the analysis will be the downward target.

Ethereum Price Comment Analysis! The Fall May Continue! This news was first published on CoinOtag.

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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.
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