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What will happen if Ethereum cannot break its critical resistance? ETH analysis!

  • Ethereum may rise to the 2020$ level by breaking the 1937$ resistance level in the medium-term perspective.
  • If ETH fails to break the 1937$ resistance, a pullback towards the 1828$ area may occur with a downward movement.
  • Looking at the short-term chart, it is seen that if Ethereum cannot break the 1928$ resistance zone, it may expand its decline to the 1830$ levels.

When Ethereum’s price chart is examined, it is seen that the 1937$ resistance level is important in the medium-term perspective and the rise can continue with the breaking of this level. However, according to short-term analysis, a downward movement is expected if ETH cannot exceed the 1928$ resistance zone.

Medium-Term ETH Analysis!

8 Hour ETH/USD Price Chart Source: TradingView

8 Hour ETH/USD Price Chart Source: TradingView

When Ethereum’s medium-term price chart is examined, it is observed that ETH is moving in a resistance zone near the 1937$ levels.

ETH price can continue its rise up to the 2020$ levels if it can achieve daily candlestick closures above the mentioned 1937$ resistance level in the analysis.

However, if Ethereum cannot break the 1937$ resistance, it may perform a downward movement towards the 1828$ area again.

ETH price may tend to continue the medium-term downward trend as long as it cannot exceed the 1937$ resistance. Many investors hope to see a rise of more than 5% in altcoins when ETH breaks the 1937$ resistance.

Short-Term Ethereum Price Analysis!

1 Hour ETH/USD Price Chart Source: TradingView

1 Hour ETH/USD Price Chart Source: TradingView

When Ethereum’s short-term price chart is examined, it is seen that ETH is moving close to the 1928$ resistance zone.

ETH price may start its downward movement from this level if it cannot achieve hourly candlestick closures above the mentioned resistance zone in the analysis.

If Ethereum cannot exceed the 1930$ resistance, it may expand its downward movement to the 1830$ levels.

Those who evaluate the Ethereum price for short positions in a short period of time can follow the 1939.98$ level as a stop level.

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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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