What Levels Should Ethereum Investors Follow? Current ETH Analysis

  • If Ethereum (ETH) can hold above the level of $1738 on an hourly basis, it has the potential to continue its upward trend.
  • The US inflation news could cause a sudden drop in ETH price and a decline to the support level of $1738.
  • If ETH fails to maintain its support at $1738, the downward movement could expand to the level of $1720.

According to Ethereum’s hourly price analysis, holding above the level of $1738 could support the upward trend, but the US inflation news could cause a sudden drop in price.

Medium-Term ETH Technical Analysis

8 Hourly ETH/USD Price Chart

When Ethereum’s medium-term price chart is examined, it can be seen that ETH continues to maintain its support at $1717.

If the ETH price continues to hold above the support level of $1717, it can continue its upward movement towards the level of $1779.

However, if ETH fails to break the resistance level of $1779 and does not close at this level on a daily basis, it could retreat to the level of $1717, starting the downward movement from the level of $1779.

If the ETH price closes below the level of $1717 on a daily basis, it could expand the downward trend to the level of $1686.

On the other hand, if ETH breaks the resistance level of $1779 and closes on a daily basis, it has the potential to continue its upward movement towards the level of $1800.

In summary, according to Ethereum’s medium-term price analysis, the support level of $1717 should be monitored as an important level, and closing above the resistance level of $1779 could support the continuation of the upward trend.

Short-Term ETH Technical Analysis

1 Hourly ETH/USD Price Chart

1 Hourly ETH/USD Price Chart

When Ethereum’s hourly price chart is examined, it can be seen that if ETH closes above the level of $1738 on an hourly basis, it has the potential to continue its upward trend.

The US inflation news, which will be announced today, could cause a sudden drop in ETH price and pull it back to the support level of $1738.

If ETH continues to hold above the level of $1738 on an hourly basis, it could aim to continue its upward movement towards the mentioned level of $1779.

However, if ETH fails to maintain its support at $1738, it could expand the downward movement to the level of $1720.

In summary, according to Ethereum’s hourly price analysis, the level of $1738 should be monitored as an important support point, and holding above this level could support the upward trend.

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

BREAKING NEWS

US Ethereum Spot ETF Records $31.8 Million Net Inflows on July 1st, Reports Farside Investors

On July 1st, the US Ethereum spot ETF experienced...

Paradigm Capital and Early ARB Investors Move $5.85M in ARB Tokens to CEX

Paradigm Capital alongside early investors of ARB have moved...

Trump-backed American Bitcoin raises $220 million to buy bitcoin and mining equipment

Trump-backed American Bitcoin raises $220 million to buy bitcoin...

REX-Osprey’s SOL Spot ETF Launches as First US Staking ETF Amid Solana Market Challenges

On July 1st, Bloomberg's senior ETF analyst Eric Balchunas...

New Address Spends 6.18 Million DAI to Acquire 2,477 ETH in Potential Swing Trade

On July 1st, blockchain analyst Ai Yi (@ai_9684xtpa) reported...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img