Ethereum Price Prediction: Where is the Target for the Rise? August 15th ETH Analysis

  • Ethereum’s 2-hour technical chart shows that the downward trend continues. The current critical support level has been identified as $1820.
  • If the ETH price experiences a drop near the $1820 – $1811 support range, it can initiate a bullish movement by receiving buying reactions from this area. The targets are at $1855 and $1880 levels.
  • 2-hour candlestick closures above $1880 can take the ETH price to $1910. However, it is important to surpass the resistance levels. Otherwise, the downward movement can continue until $1791.

Ethereum’s 2-hour chart shows a downward trend, and $1820 support is crucial. With the strengthening of support in the $1820 – $1811 range, an upward movement can begin, focusing on the targets of $1855 and $1880. Closures above $1880 can lead to $1910.

Medium-Term ETH Analysis

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

When examining Ethereum’s daily technical chart, it can be seen that the price is hovering near the $1815 support. As long as the ETH price holds above the $1815 level, the upward trend can continue. The initial target can be the $1880 resistance, followed by the $1958 levels.

If the ETH price achieves daily closures above $1880, it can move towards $2023. However, it is important for it to surpass the $1880 resistance to reach these targets.

As long as Ethereum fails to surpass the $1880 level, there is a possibility of continuing the downward movement towards the $1815 support. If the ETH price falls below $1815, a downward movement towards the critical support range of $1778 – $1749 can occur. However, if strong buying reactions occur from this support range, ETH’s upward target can be up to $2100.

Short-Term ETH Analysis

2-Hour ETH/USD Price Chart
2-Hour ETH/USD Price Chart

When examining Ethereum’s 2-hour technical chart, it can be observed that the downward trend continues. According to the analysis of the Coinotag Analyst team, the current critical support for ETH is determined as $1820.

If the Ethereum price experiences a drop towards the $1820 – $1811 support range in the coming hours, it may consider initiating an upward movement by receiving strong buying reactions from this area. If it starts to rise from the mentioned support range, the initial target will be $1855, followed by $1880.

If the ETH price achieves 2-hour candlestick closures above $1880, it can set its next target as $1910. However, it is important for it to surpass these resistance levels to ensure sustainability. If the ETH price fails to maintain the $1820 – $1811 support range, the downward movement can continue until $1791.

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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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