- Ethereum can rise to the level of 1696 dollars, taking strength from the support level of 1630 dollars. However, 2-hour closings above 1653 dollars can support the rise.
- Continuing to stay above 1630 dollars can contribute to the continuation of the upward trend. On the other hand, hourly closings below 1630 dollars can direct the decline towards the support range of 1605 – 1610 dollars.
- Ethereum’s daily chart shows movements above the level of 1611 dollars. Daily closings above 1611 dollars can support the rise towards the target of 1700 dollars. However, if closings above 1700 dollars do not occur, the decline can continue towards the level of 1611 dollars.
ETH short-term chart has the potential to rise to the target of 1696 dollars with the strength it takes from the support level of 1630 dollars. However, 2-hour closings above 1653 dollars are necessary for this rise to strengthen.
Medium-Term ETH Analysis
Daily ETH/USD Price ChartWhen the daily technical chart of Ethereum is examined, it can be seen that the price movements above 1611 dollars continue. Daily closings above the level of 1611 dollars can support the upward trend up to the level of 1700 dollars.
If Ethereum makes a daily closing above 1700 dollars, a rising target towards the resistance range of 1762 – 1816 dollars can be formed. If the price closes above 1816 dollars, the next target could be the level of 1858 dollars.
However, if Ethereum fails to make a daily closing above 1700 dollars, the downward trend can continue back to the level of 1611 dollars. In addition, daily closings below 1611 dollars can extend the decline to the levels of 1555 dollars.
Short-Term ETH Analysis
When the short-term technical chart of Ethereum is examined, it can be seen that it can continue the upward movement towards the level of 1696 dollars with the support it takes from the level of 1630 dollars. However, it is important for ETH to make 2-hour closings above 1653 dollars to strengthen its rise.
As long as the ETH price stays above the level of 1630 dollars, it can continue the upward trend. However, if Ethereum makes hourly closings below 1630 dollars, it can expand the downward trend towards the support range of 1605 – 1610 dollars.
