- Ethereum experienced a drop of more than 2% today.
- Will Ethereum’s price continue to decline?
- If ETH cannot stay above $1780, how far will the drop continue?
Will Ethereum drop to $1700? What are the important levels that Ethereum investors should follow? Current ETH analysis!
Medium-Term ETH Price Analysis!
12 Hour ETH Price Chart Source: TradingView
When we examine the Ethereum price chart, we see that it dropped below the important support level of $1780 and fell to around $1740.
In our previous ETH analysis, we mentioned that if Ethereum continued to close below the $1874 level for 4-hour and daily candles, it could drop to the $1780 level.
Click here to see our previous Ethereum analysis.
If we update the Ethereum analysis, we can see that the ETH price has cleared the long liquidations below the $1763 level and is trying to push the price back above the $1780 level.
If the ETH price can close daily candles above the $1780 level mentioned in the analysis, it could rise to the $1940 level again.
If the ETH price cannot close daily candles above the $1780 level, it could continue to drop to the $1686 level.
