Ethereum

Resistance

<ul> 
 <li>Ethereum (ETH) may extend its downward trend to levels around $1780 if it fails to achieve daily candle closes above the $1927 resistance level.</li> 
 <li>For ETH to sustain its upward trend, it is important to make a strong close above the $1930 level. In this case, the target levels could be $2000 and $2080.</li> 
 <li>According to the hourly chart analysis of Ethereum, the nearest resistance zone is at $1910. If ETH closes above this level, the probability of continuing its upward movement increases.</li> 
</ul> 
When examining the current technical chart of Ethereum, it can be seen that the price is facing the $1927 resistance level and moving around $1885. Whether ETH surpasses or stays below the mentioned resistance levels can determine its future movement. 
<h2 id="strong-medium-term-eth-analysis-strong">Medium-Term ETH Analysis</h2> 
<a href="https://en.coinotag.com/wp-content/uploads/2023/06/If-Ethereum-Cannot-Break-the-Resistance-Level-a-Decline-May.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-134158 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/If-Ethereum-Cannot-Break-the-Resistance-Level-a-Decline-May.png" alt="12-Hour ETH/USD Price Chart" width="2098" height="858"></a> 12-Hour ETH/USD Price Chart 
When examining the current technical chart of Ethereum, it can be seen that the price is facing selling pressure from the $1927 resistance zone and currently moving around $1885. 
If the price of ETH fails to achieve daily candle closes above the mentioned $1927 level, it may extend its downward movement to around $1780. For Ethereum to sustain its upward trend, it needs to make closes above the $1930 level. 
If the price of ETH cannot surpass the mentioned resistance line, it can perform the mentioned downward movement in the analysis. However, if ETH breaks the $1930 resistance and makes a strong close above it, the initial target level could be $2000, followed by $2080. 
<h2 id="strong-short-term-eth-price-analysis-strong">Short-Term ETH Price Analysis</h2> 
<a href="https://en.coinotag.com/wp-content/uploads/2023/06/1687609241_525_If-Ethereum-Cannot-Break-the-Resistance-Level-a-Decline-May.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-134163 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/1687609241_525_If-Ethereum-Cannot-Break-the-Resistance-Level-a-Decline-May.png" alt="Hourly ETH/USD Price Chart" width="1747" height="858"></a> 
Hourly ETH/USD Price Chart 
When examining the hourly technical chart of Ethereum, it can be seen that the price is facing the nearest resistance zone at $1910. If the price of ETH achieves hourly candle closes above the $1910 level, it can continue its upward trend. However, if it fails to close above this level, it may continue its downward movement to around $1858. 
The price of ETH will try to hold above the $1858 support because staying above this support level will help maintain the upward trend. However, if it makes hourly candle closes below the $1858 support, it may extend its downward movement to around $1828. 
If Ethereum cannot hold above the $1828 support, it will find the next important support level between $1790 and $1770. These levels are support zones where ETH will try to prevent the continuation of the downward trend. 
The post <a rel="nofollow" href="https://en.coinotag.com/if-ethereum-cannot-break-the-resistance-level-a-decline-may-begin-june-24th-eth-analysis/">If Ethereum Cannot Break the Resistance Level, a Decline May Begin! June 24th ETH Analysis</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG EN</a>.

If Ethereum Cannot Break the Resistance Level, a Decline May Begin! June 24th ETH Analysis

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