Ethereum

<ul><li>Ethereum continues its horizontal movements on the hourly chart.</li><li>Closing above the level of $1715 for ETH may increase its potential for growth.</li><li>The level of $1779 should be monitored as a critical resistance point, and if it is surpassed, the target could be $1800.</li></ul>According to Ethereum’s hourly technical analysis, while the price continues its horizontal movement, closing above the resistance level of $1715 may increase its potential for growth.<h2 id="header-0">Medium-Term ETH Price Analysis</h2><img src="https://academy-public.coinmarketcap.com/optimized-uploads/32f4ac0e3755467c94604a2fa0f79a7c.png" />Daily ETH/USD Price ChartWhen Ethereum’s medium-term technical chart is examined, it is seen that the ETH price is trading below the resistance level of $1763.<a href="https://en.coinotag.com/altcoin-exchange-1333421" rel="noopener noreferrer nofollow">Newly Released Coins With Plenty of Zeros - Click Here to Buy at a Low Fee Before Anyone Else!</a>If the ETH price continues to stay below the level of $1763 mentioned in the analysis, it may continue its downward trend.Ethereum may expand its decline to the level of $1684 if it cannot surpass the level of $1763 and close above it. However, ETH may want to start an uptrend by breaking and holding above the resistance of $1763.If ETH strengthens the level of $1763 as support, its next target could be the level of $1800.In summary, according to Ethereum’s medium-term technical analysis, the resistance level of $1763 should be monitored as an important point, and the price holding above this level may increase its potential for growth.<h2 id="header-1">Short-Term ETH Price Analysis</h2><img src="https://academy-public.coinmarketcap.com/optimized-uploads/88e4eb8f956942a5bdb3ab3abc6b5143.png" />1 Hour ETH/USD Price ChartWhen Ethereum’s hourly technical chart is examined, it is observed that the price exhibited a horizontal movement as stated in yesterday’s analysis.<a href="https://en.coinotag.com/altcoin-exchange-1333421" rel="noopener noreferrer nofollow">Newly Released Coins With Plenty of Zeros - Click Here to Buy at a Low Fee Before Anyone Else!</a>If the ETH price continues to close hourly above the level of $1715 mentioned in the analysis, it may continue its uptrend towards the level of $1779.ETH price may continue its uptrend towards the level of $1800 if it closes hourly above the level of $1779.However, if Ethereum stays below the level of $1779 in the short term, downward movements are more likely. If ETH cannot surpass the resistance level, downward movements towards the level of $1655 may be observed.In summary, according to Ethereum’s hourly technical analysis, the level of $1715 should be monitored as an important support point, and the level of $1779 is a critical resistance level. Whether the price breaks or fails to break this level will be important in determining the future trend.Source: <a href="https://en.coinotag.com/can-ethereum-trigger-a-rise-eth-analysis/" rel="noopener noreferrer nofollow">https://en.coinotag.com/can-ethereum-trigger-a-rise-eth-analysis/</a>

Can Ethereum Trigger a Rise? ETH Analysis

Table of Contents

CO NEWS

Other articles published on Jun 12, 2023

BNB Price Plummets To a New Low Amidst Ongoing SEC Legal Battle

Binance's BNB Token Futures Witness Surge in Open Interest, Reaching a 5-Month High

The UK Supports a16z Expansion in Hopes To Become a Crypto Hub

EOS Network Foundation's Resilience: Revitalizing the EOS Blockchain Community

Turkish Cryptocurrency User Report for 2023-Q1

Rapid Increase in Open Interest for Binance’s BNB Amid Price Drop: Crypto Analyst Warns of Chain ...

Join our free newsletter for daily crypto updates!