- According to Ethereum’s short-term technical chart, hourly candle closes below the $1858 level can continue the downward movement towards the $1828 levels.
- For ETH to maintain its upward trend, it is important to have 2-hour candle closes above the $1910 level.
- According to Ethereum’s daily chart, the $1927 level is an important resistance.
Ethereum’s short-term technical analysis indicates that the price can continue its downward trend below the $1858 level. However, it needs to close strongly above the $1910 level to maintain its upward trend.
Medium-Term ETH Price Analysis
When examining Ethereum‘s daily technical chart, it is observed that it encounters significant resistance at the $1927 level.
If ETH fails to achieve daily candle closes above the $1927 level, it can continue the downward movement towards the $1778 support.
With the break of the downward trend, many Ethereum whales are waiting to buy ETH from the $1778 – $1757 range. Reaching this range also means retesting the broken downward trend line.
If Ethereum surpasses the $1927 resistance, it can continue its upward movement towards the $2050 levels.
Short-Term ETH Price Chart
30-Minute ETH/USD Price Chart
When examining Ethereum’s short-term technical chart, it is seen that if the price of ETH achieves hourly candle closes below the $1858 level, it can continue the downward movement towards the $1828 levels.
If Ethereum makes hourly candle closes below the $1828 level, it can extend the downward movement towards the $1790 – $1780 levels. However, for ETH to continue its upward trend, it needs to achieve 2-hour candle closes above the $1910 level to ensure sustainability.
If the price of ETH surpasses the $1911 level with high trading volume, it can continue its upward movement towards the $1970 levels. However, if it fails to break the $1911 level, it may want to realize the downward movement towards the $1790 – $1780 support levels.
