Ethereum

Daily

<ul>
<li>Ethereum (ETH) continues to move in a horizontal channel on the 2-hour price chart.</li>
<li>If ETH can close above the $1747 level for 4 hours, there is potential for a rise towards the $1778 levels.</li>
<li>However, if ETH closes below the $1747 level, the downward trend may continue towards the $1717 level.</li>
</ul>
When examining Ethereum&#8217;s price chart, it can be seen that ETH continues to move in a horizontal channel. If it can close above the $1747 level for 4 hours, it may bring potential for a rise in ETH&#8217;s price.
<h2 id="strong-medium-term-ethereum-price-analysis-strong">Medium-Term Ethereum Price Analysis</h2>
<a href="https://en.coinotag.com/wp-content/uploads/2023/06/Ethereum-Price-Analysis-Critical-Level-Determined-for-Upward-Movement.png"><img decoding="async" class=" td-modal-image td-modal-image alignnone wp-image-133501 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/Ethereum-Price-Analysis-Critical-Level-Determined-for-Upward-Movement.png" alt="Daily ETH/USD Price Chart" width="1929" height="857" /></a>
Daily ETH/USD Price Chart
When examining Ethereum&#8217;s daily price chart, it can be seen that ETH is moving horizontally above the $1717 level.
ETH&#8217;s price may continue its upward trend as long as it continues to close above the important support level of $1717 on a daily basis.
The nearest resistance level is set at $1777. If ETH&#8217;s price surpasses this level, its next target may be towards the $1800 levels.
However, if Ethereum&#8217;s price cannot close above the $1800 level on a daily basis, it may attempt to continue its downward movement towards the $1717 level.
As long as ETH remains below the $1800 level, the target of the downward trend will be at the $1680 levels.
<h2 id="strong-short-term-eth-price-analysis-strong">Short-Term ETH Price Analysis</h2>
<a href="https://en.coinotag.com/wp-content/uploads/2023/06/1686753206_638_Ethereum-Price-Analysis-Critical-Level-Determined-for-Upward-Movement.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-133499 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/1686753206_638_Ethereum-Price-Analysis-Critical-Level-Determined-for-Upward-Movement.png" alt="2 Hour ETH/USD Price Chart" width="1910" height="857" /></a>
2 Hour ETH/USD Price Chart
When examining Ethereum&#8217;s 2-hour price chart, it can be observed that ETH continues to move in a horizontal channel.
If ETH&#8217;s price can close above the $1747 level as mentioned in the analysis for 4 hours, it may continue its rise towards the $1778 levels.
However, if ETH&#8217;s price continues to close below the $1747 level, the downward trend may be considered to continue towards the $1717 level.
The $1747 level is an important point for ETH&#8217;s short-term price movements. If ETH&#8217;s price remains above the $1747 level, it may be possible to focus on the upward trend.
However, if ETH continues to remain below the $1747 level, the likelihood of downward trend movements continuing is high.
The post <a rel="nofollow" href="https://en.coinotag.com/ethereum-price-analysis-critical-level-determined-for-upward-movement/">Ethereum Price Analysis: Critical Level Determined for Upward Movement</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG</a>.

Ethereum Price Analysis: Critical Level Determined for Upward Movement

Table of Contents

CO NEWS

Other articles published on Jun 14, 2023

Is This $738 Million Ethereum (ETH) Whale Weirdest One?

As Social Media Interest in Bitcoin Decreases, XRP and ETH Stand Out

EUR/USD Surges Near 1.0820 as US PPI Deflates Beyond Expectations

Binance CEO Responds to Accusations of Selling Bitcoin and BNB

Ripple (XRP) Slides Amid Ongoing SEC Case: Critical Market Movements Ahead

NFTScan Becomes Official NFT Data Provider for WalletFrens

Join our free newsletter for daily crypto updates!