Short-term ETH Analysis! If This Resistance is Not Broken, a Drop May Come!

  • Ethereum experienced a drop to the level of $1895 today.
  • While ETH investors are expecting a rise to the level of $2500, will ETH be able to break its critical resistance?
  • What will happen if the ETH price rises above the level of $1960?

Will Ethereum continue to decline? What can ETH investors expect? What is the future of Ethereum?

Short-Term ETH Price Analysis!

1 Hour ETH/USD Price Chart Source: TradingView

When we examine the Ethereum price chart, we can see that it encountered selling pressure at an important resistance level.

If ETH makes 4-hour candlestick closes above the level of $1940, it can realize its upward movement up to the level of $1980.

If the Ethereum price makes daily candlestick closes above the level of $1960, it can rise up to the level of $2130.

If ETH Price Cannot Break Its Critical Resistance, What Is Its Target?

If the Ethereum price cannot break the aforementioned $1940 price resistance in the above analysis, its downward target will be the price level of $1780.

If the ETH price makes 4-hour candlestick closes above the level of $1817, it can turn back from the range of $1817-$1830 and realize its upward movement again up to the level of $1960.

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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.
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