Currently, the Ethereum market is under selling pressure, raising questions about future price dynamics.
Current Situation on the Ethereum Market
As of today, the price of Ethereum (ETH) has decreased by almost 1% compared to the previous day, currently standing at $2,439. On the hourly chart, the price is near the support level of $2,434.
Technical Analysis of Short-Term Trends
If buyers cannot regain control, a correction is likely to continue to the $2,400 level tomorrow. On longer time frames, bears also have a stronger position compared to bulls, and if the daily candle closes below the low of yesterday, it may lead to a test of support.
Medium-Term Predictions for Ethereum
In the medium term, the situation appears less clear: ETH is situated in the middle of a broad channel, indicating no dominating force. Low trading volume confirms this, and the most likely scenario is sideways trading in the range of $2,300 to $2,600.
Given the current selling pressure, the future dynamics of Ethereum's price remain uncertain, and investor focus should be on both short-term and medium-term forecasts.
