Medium-Term ETH Analysis
When the 12-hour technical chart of Ethereum is examined, it is observed that candle closings below the $1815 level have brought the price down to around $1780. As long as ETH continues to close below the mentioned $1815 level on a daily basis, it can expand the downward movement towards the support range of $1778 – $1749.
However, if ETH receives strong buying responses in the $1778 – $1749 support range, it can rise from this support zone towards the $1880 level first and then towards the $2023 level. However, if ETH closes below the $1749 support on a daily basis, there is a possibility of continuing the downward trend.
If the ETH price achieves daily candle closings below the $1749 level, it can continue its downward movement towards the next critical support level of $1720. If closings below $1720 occur, the next target could be $1690. However, if ETH closes above $1880 on a daily basis, it can eliminate the possibilities of a decline.
