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- If Ethereum’s price closes above the $1893 resistance on an hourly basis, it can continue its upward movement.
- If ETH price fails to break the $1894 resistance, the downward trend can extend towards the $1858 levels.
- Ethereum investors are expecting the break of the $1930 resistance and daily closes above it.
Ethereum’s price analysis shows that it is moving near the significant resistance zone of $1930. The potential for ETH price to break certain levels is creating excitement among investors. In this article, we will examine Ethereum’s price movement and possible scenarios.
Medium-Term ETH Analysis
When examining Ethereum’s 12-hour price chart, it can be seen that the price is moving near the significant resistance zone of $1930. If ETH price achieves a 2% increase, it can have the potential to break the $1930 resistance.
According to the analysis, if Ethereum’s price closes above the $1930 resistance on a daily basis, it can continue its upward movement. The initial target is around $2000, and then it can progress towards the $2100 levels.
Ethereum investors are expecting the break of the $1930 resistance and daily closes above it. However, if ETH price fails to surpass this resistance, it can extend the downward movement towards the $1821 levels. If daily closes below the $1821 level occur, the downward trend can continue towards the $1778 levels.
Short-Term ETH Analysis
Hourly ETH/USD Price Chart
If Ethereum’s price achieves hourly candlestick closes above the $1893 level mentioned in the analysis, it has the potential to continue its upward movement. However, if ETH price fails to surpass the $1894 resistance, it can expand the downward trend towards the $1858 levels.
If Ethereum’s price closes below the $1858 support on an hourly basis, it can continue the downward movement towards the $1828 levels. On the other hand, if ETH price surpasses the $1893 resistance and achieves hourly closes, upward movements towards the $1930 levels can be observed.