Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

  1. Strong buying pressure is observed near the $2139 support area in Ethereum.
  2. ETH needs to surpass the $2407 resistance to sustain its upward movement.
  3. Investors should exercise caution when trading in the $2509 – $2604 resistance range.

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.

Medium Term ETH Analysis

8-Hour ETH/USD Price Chart
8-Hour ETH/USD Price Chart

When examining the medium-term technical chart of Ethereum, we observe strong buying pressure near the $2139 support area, pushing the price up to the $2350 region. For ETH to sustain its upward movement, it needs to close 8-hour candles above the $2407 resistance.

If the ETH price achieves 8-hour candle closes above $2407, it may rise to the resistance range of $2509 – $2604 as indicated in the analysis.

Investors should be cautious in long positions if Ethereum rises to the $2509 – $2604 resistance range. If the price fails to close daily candles above $2614 when reaching this resistance range, it may initiate a downward movement. Investors looking to open swing short positions should wait for ETH to rise to the $2509 – $2604 range and capture short positions in the lower time frame with a stop at $2614.

However, if the ETH price closes daily candles above the $2614 resistance, Ethereum may aim for the next resistance at $2763. Therefore, investors should exercise caution in trades opened in the $2509 – $2604 resistance range. If ETH fails to surpass the specified resistance range, it may initiate a downward movement towards the $1985 support.

BREAKING NEWS

Bitcoin (BTC) 15x Leveraged Long: 120 BTC Position on Hyperliquid Yields $5.51M Profit Since July

COINOTAG News, citing on-chain analyst Ai Auntie (@ai_9684xtpa), reports...

Quantum Solutions Purchases 500 ETH, Raising Total ETH Reserves to 4,365 (~$18 Million)

COINOTAG News reported on October 27, citing updates from...

Ethereum Poised for V-Shaped Recovery: 3-Stage Path to an Uptrend, Says Analyst IamCryptoWolf

COINOTAG News, October 27 — veteran crypto analyst @IamCryptoWolf...

Bitcoin Rallies Amid Signs of U.S.-China Trade Progress

The Bitcoin price surge in 2025 stemmed...

Dogecoin Signals Potential Bullish Momentum After Multi-Year Cup-and-Handle Breakout

Dogecoin has confirmed a multi-year cup-and-handle breakout...

Nikkei 225 Tops 50,000 as Trade Talks Advance and Japan Eyes Growth Policies

The Nikkei 225 index surpassed 50,000 for the first...

Bitplanet Begins Daily Bitcoin Accumulation with 93 BTC Purchase in South Korea

Bitplanet, South Korea's publicly listed Bitcoin treasury company, has...

Zcash Surges 30% as Arthur Hayes Predicts Potential $10,000 Price

Zcash experienced a 490% rally over the...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img