en.coinotag.com
- When examining Ethereum
$ETH ~USD" api="cryptocompare.com" realtime="true" animation="backgroundRedGreen">’s daily chart, it’s noted that an upward movement started from the previous support, but today experienced a 1.15% decline. - If the $ETH price fails to achieve 4-hour closures above $3,272, it may continue its decline towards the support range of $3,071 – $3,034.
- In case of encountering strong buyers, Ethereum may aim to restart the upward trend, hence investors should closely monitor the $3,071 – $3,034 support range.
Ethereum’s daily chart is down 1.15% today despite a rally from previous support, candle closes above $3272 are important.
MEDIUM TERM $ETH ANALYSIS
When examining the daily technical chart of Ethereum, it can be observed that it attempted to initiate an upward movement from the previously mentioned support zone but experienced a decline today. $ETH price retreated to the $3,176 levels with a 1.15% decrease.
Unless the $ETH price achieves 4-hour candle closes above the $3,272 level during the day, the downward trend may continue towards the support range of $3,071 – $3,034. However, if the $ETH price encounters strong buyers at the red line supports mentioned in the analysis, it may aim to restart the upward trend.
Therefore, $ETH and altcoin spot investors need to carefully monitor the $3,071 – $3,034 support range. In fact, if $ETH falls into this zone, they can evaluate their spot investments by paying attention to whether it closes daily candles below $2,867.
If $ETH manages to rebound from the red support levels in the analysis, the upward targets will be $3,414 – $3,722 respectively.