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Ethereum Price Prediction: Can it Rise to $2100? August 11th ETH Analysis

  • Ethereum’s 4-hour technical chart is hovering near the support range of $1839 – $1831 – $1823. Strong buying demand from these support levels can support a potential upward trend.
  • If the price receives strong buying demand in the $1839 – $1831 – $1823 support range, the first target could be to surpass the $1880 resistance. Then, the $1910 level can be targeted. However, closing below the $1823 level can weaken the upward potential.
  • If the Ethereum price closes below the $1823 level on a 4-hour basis, the downward movement can continue towards the $1810 and $1791 levels. Investors should closely monitor support and resistance levels.

Ethereum’s 4-hour chart is moving within the support range of $1839 – $1831 – $1823. It can gain an upward trend with buying demand from these areas. However, closing below $1823 can decrease the possibility of an upward movement. In the daily chart, the resistance around $1880 is critical.

Medium-Term ETH Analysis

Daily ETH/USD Price Chart
Daily ETH/USD Price Chart

When examining Ethereum’s daily technical chart, it is observed that it is approaching an important resistance level around $1880. If the ETH price closes above $1880 on a daily basis, it can indicate the beginning of an upward trend.

If the $1880 resistance is surpassed, the first target for Ethereum could be the $1958 level. After this stage, the next target could be considered as $2023. If the ETH price is supported by strong buying demand, it can continue its upward trend towards $2100.

However, if Ethereum fails to break the $1880 resistance, it can show a downward trend and decline towards the $1815 level. If the price closes below this level on a daily basis, the downward movement can continue towards the critical support range of $1778 to $1749. If strong buying demand is encountered from this critical support range, Ethereum has the potential to initiate a new upward trend.

Short-Term ETH Analysis

4-Hour ETH/USD Price Chart
4-Hour ETH/USD Price Chart

When examining Ethereum’s 4-hour technical chart, it is observed that the price is moving near the support range of $1839 – $1831 – $1823. If the ETH price experiences a decline towards the mentioned support levels in the coming hours, it can gain an upward trend with strong buying demand from these levels.

If the ETH price receives significant buying demand in the $1839 – $1831 – $1823 support range, the first target can be the $1880 level. After this stage, the next target will be $1910. However, if Ethereum closes below the $1823 level with 4-hour candlesticks, the upward potential can weaken.

If the ETH price closes below the $1823 level on a 4-hour basis, the downward movement can continue towards the $1810 level. Then, the $1791 levels can be targeted. In this case, it is important for investors to closely monitor the mentioned support and resistance levels.

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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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