- Ethereum is moving within the support range of $1858 – $1840 on the 4-hour chart. If it stays above this support, the targets can be $1917 and $1962.
- However, if it closes below $1840, the support levels of $1828 and $1791 – $1774 can be tested. With strong buying, the target can be $2000.
- On the daily chart of Ethereum, the $1880 resistance appears to be significant. If it breaks the resistance, the target is $1958, but if it fails, the support at $1915 can be tested and a drop can occur until the $1777 – $1749 zone.
The technical chart of Ethereum is progressing in a critical process where the support and resistance levels in the daily and 4-hour time frames are decisive. The movements of the price within the range of $1858 – $1840 and its position close to the $1880 resistance are of great importance for future guidance.
Medium-Term ETH Analysis
Daily ETH/USD Price ChartWhen the current technical chart of Ethereum is examined, it is observed that it is moving close to the $1880 resistance. If the ETH price makes daily closes above the $1880 resistance, it can continue its rise up to the $1958 levels.
However, if the ETH price fails to break the $1880 resistance, it is expected to initiate the downward movement starting from these levels and reach the $1915 support. In order not to experience a drop to the $1815 support, Ethereum must maintain its stability by making daily closes above $1880.
If the Ethereum price makes daily closes below the $1915 level, it can continue the downward movement towards the critical support range of $1777 – $1749. However, if the ETH price encounters strong buying reactions from the $1777 – $1749 support range, it can reach its upward target of $2200. The same situation will also be valid with daily closes above $1880.
Short-Term ETH Analysis
When the 4-hour technical price chart of Ethereum is examined, it is observed that the price is moving above the support range of $1858 – $1840. As long as the ETH price stays above the 4-hour support level, it can continue its upward movement first to the $1917 level and then to the $1962 levels.
However, if the ETH price makes 4-hour closes below the $1840 level, it can continue the downward movement first to the $1828 level and then to the support range of $1791 – $1774. However, if the ETH price initiates a strong upward movement from the $1791 – $1774 support range, it can reach the upward target of $2000, as mentioned in the analysis.
