- The Ethereum price can continue its upward trend as long as it stays above the $1962 level.
- The $1930 level should be monitored as an important support level for Ethereum.
- The ETH price can continue to rise to the $2025 levels and then to the $2071 levels, but it depends on candlestick closures above the $1930 support.
When examining Ethereum’s daily technical chart, it can be seen that the price has experienced a rise of more than 7%. Current support and resistance levels of Ethereum have become an important focus for investors.
Medium-Term ETH Price Analysis
Daily ETH/USD Price Chart
When examining Ethereum’s daily price chart, it can be seen that it has experienced a rise of more than 7% today. The Ethereum price has reached the $2012 levels with a rapid rise. Currently, the ETH price is trading around $2004 levels.
When analyzing the current technical chart, it can be seen that Ethereum’s upward movement can continue up to the $2070 – $2100 resistance range. However, first, ETH needs to achieve 4-hour candlestick closures above the $2023 level.
If the Ethereum price faces strong selling pressure from the mentioned $2070 – $2100 levels, it can initiate a downward movement starting from the resistance range and reach the $1778 levels. However, if the ETH price achieves daily candlestick closures above the $2125 level, it can invalidate this analysis and Ethereum’s upward target can progress towards the $2300 level.
Short-Term ETH Price Analysis
2-Hour ETH/USD Price Chart
When examining Ethereum’s 2-hour technical chart, it was mentioned that as we shared on July 13th, its target was first $1904 and then $1930 as long as it closes above the $1840 level for 2 hours.
Readers who reconsidered their investments based on our article on July 13th had the opportunity to gain more than 8%.
When examining Ethereum’s current technical chart, the $1962 level can be followed as an important support zone for ETH investors. As long as the Ethereum price continues to stay above $1962, it may continue its upward trend.
The next important support level for Ethereum is determined as $1930. If the ETH price experiences a decline to the $1930 level, Ethereum whales can make strong purchases from this zone.
The ETH price can continue its upward movement to the $2025 levels first, and then to the $2071 levels. However, this technical situation depends on 2-hour candlestick closures above the $1930 support.
