Ethereum

<ul>
<li>If Ethereum (ETH) can hold above the level of $1738 on an hourly basis, it has the potential to continue its upward trend.</li>
<li>The US inflation news could cause a sudden drop in ETH price and a decline to the support level of $1738.</li>
<li>If ETH fails to maintain its support at $1738, the downward movement could expand to the level of $1720.</li>
</ul>
According to Ethereum&#8217;s hourly price analysis, holding above the level of $1738 could support the upward trend, but the US inflation news could cause a sudden drop in price.
<h2 id="strong-medium-term-eth-technical-analysis-strong">Medium-Term ETH Technical Analysis</h2>
<figure id="attachment_133449" class="wp-caption alignnone" style="width: 1861px;" aria-describedby="caption-attachment-133449"><a href="https://en.coinotag.com/wp-content/uploads/2023/06/What-Levels-Should-Ethereum-Investors-Follow-Current-ETH-Analysis.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-133449 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/What-Levels-Should-Ethereum-Investors-Follow-Current-ETH-Analysis.png" alt="8 Hourly ETH/USD Price Chart" width="1861" height="857" /></a><figcaption id="caption-attachment-133449" class="wp-caption-text">8 Hourly ETH/USD Price Chart</figcaption></figure>
When Ethereum&#8217;s medium-term price chart is examined, it can be seen that ETH continues to maintain its support at $1717.
If the ETH price continues to hold above the support level of $1717, it can continue its upward movement towards the level of $1779.
However, if ETH fails to break the resistance level of $1779 and does not close at this level on a daily basis, it could retreat to the level of $1717, starting the downward movement from the level of $1779.
If the ETH price closes below the level of $1717 on a daily basis, it could expand the downward trend to the level of $1686.
On the other hand, if ETH breaks the resistance level of $1779 and closes on a daily basis, it has the potential to continue its upward movement towards the level of $1800.
In summary, according to Ethereum&#8217;s medium-term price analysis, the support level of $1717 should be monitored as an important level, and closing above the resistance level of $1779 could support the continuation of the upward trend.
Short-Term ETH Technical Analysis
<a href="https://en.coinotag.com/wp-content/uploads/2023/06/1686661787_518_What-Levels-Should-Ethereum-Investors-Follow-Current-ETH-Analysis.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-133450 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/1686661787_518_What-Levels-Should-Ethereum-Investors-Follow-Current-ETH-Analysis.png" alt="1 Hourly ETH/USD Price Chart" width="1860" height="857" /></a>
1 Hourly ETH/USD Price Chart
When Ethereum&#8217;s hourly price chart is examined, it can be seen that if ETH closes above the level of $1738 on an hourly basis, it has the potential to continue its upward trend.
The US inflation news, which will be announced today, could cause a sudden drop in ETH price and pull it back to the support level of $1738.
If ETH continues to hold above the level of $1738 on an hourly basis, it could aim to continue its upward movement towards the mentioned level of $1779.
However, if ETH fails to maintain its support at $1738, it could expand the downward movement to the level of $1720.
In summary, according to Ethereum&#8217;s hourly price analysis, the level of $1738 should be monitored as an important support point, and holding above this level could support the upward trend.
The post <a rel="nofollow" href="https://en.coinotag.com/what-levels-should-ethereum-investors-follow-current-eth-analysis/">What Levels Should Ethereum Investors Follow? Current ETH Analysis</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG</a>.

What Levels Should Ethereum Investors Follow? Current ETH Analysis

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