spot_imgspot_imgspot_img

Is Ethereum’s New Target $2100? July 16th ETH Analysis

  • Ethereum wants to maintain sustainability above the $1930 level, which can support the upward trend.
  • If ETH closes below $1930 on a 4-hour basis, it can trigger a downward movement and continue until the $1858 level.
  • If the ETH price makes daily candlestick closures above $2023, the next target could be the resistance range of $2070 – $2100.

The current analysis of Ethereum focuses on its performance above the $1930 level and emphasizes the possibility of continuing the upward trend. However, it is important not to forget the movements below critical support levels.

Medium-Term ETH Price Analysis

Daily ETH/USD Price Chart

Daily ETH/USD Price Chart

When we examine the daily technical chart of Ethereum, we observe that it experienced a downward movement from the $2023 level and reached the $1900 levels due to selling pressure, resulting in a 6% decrease from the resistance level.

Click Here to Review Our Previous ETH Analysis.

As a reminder of our previous Ethereum (ETH) analysis, ETH needed to make 4-hour candlestick closures above the $2023 level to continue its upward movement.

When we examine the current technical chart, we observe that Ethereum is attempting to close candles above the intermediate support zone of $1930. If the ETH price continues to make daily candlestick closures above the $1930 level, it can continue its upward movement towards the $2025 level.

If the ETH price makes daily candlestick closures above the $2023 level, the next target will be the resistance range of $2070 – $2100. If the ETH price makes daily candlestick closures above the $2100 level, it can continue its target up to the $2125 level.

Short-Term ETH Price Analysis

4-Hour ETH/USD Price Chart

4-Hour ETH/USD Price Chart

When we examine the short-term technical chart of Ethereum, as we mentioned in the previous ETH analysis, we stated that it would aim to continue its upward movement towards the $2023 level as long as it stays above the $1840 level.

The ETH price managed to stay above the mentioned $1840 level and provided our readers with a gain of more than 8%.

Click Here to Review the ETH Analysis That Provided Our Readers with a Gain of More Than 8%.

When we examine the current technical chart of Ethereum, it wants to maintain sustainability with candlestick closures above the important support zone of $1930. If the ETH price continues to stay above the $1930 level mentioned in the analysis, it may want to restart its upward movement.

However, if the ETH price makes 4-hour candlestick closures below the $1930 level, it can continue the downward trend until the $1858 level. If the ETH price makes 4-hour candlestick closures below the $1840 level, it will aim to reach the $1791 support.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?

Uniswap Introduces “uni.eth” Subdomains with ENS Integration: Here are the Details!

Decentralized exchange platform Uniswap has introduced uni.eth subdomains with Ethereum Name Service integration.

Ripple Initiates Collaboration with Zoniqx to Empower Asset Tokenization

Ripple, a leading enterprise blockchain and crypto solutions provider, joins forces with Zoniqx: Here are the details!
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
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.
spot_imgspot_imgspot_imgspot_img

Grayscale Report: What Triggers Ethereum Price?

After the Ethereum price rose above $3000, Grayscale Investments investigated why Ethereum (ETH) was rising.

Reddit Integrates Bitcoin and Ethereum into Treasury Amidst Bull Run and ETF Approval Boosts

This article delves into Reddit's strategic incorporation of Bitcoin and Ether into its treasury, examining the implications of this move for the crypto industry and investor sentiment.

Reddit Announces IPO with a Crypto Twist: Bitcoin, Ethereum, and MATIC Holdings Revealed

In a significant move towards becoming a publicly traded company, Reddit reveals its cryptocurrency holdings, including Bitcoin and Ethereum, in its latest SEC filing, marking a notable fusion of social media and blockchain technology.