Ethereum Price Prediction as Crypto Prices Crash - PERFECT Trade Setup

Ethereum Price Analysis: Key Levels to Watch

Looking at the weekly ETH/USD chart:

• Immediate Resistance: The first major resistance stands at $2,535, aligning with the recent rejection zone. A break above this level could push Ethereum toward the 50-week SMA at $2,744, which is the next critical resistance level.
• Immediate Support: Ethereum has now entered a minor support zone at $2,400, but the stronger support lies at $2,200. If the bearish momentum continues, a retest of $2,200 is highly probable.
• Bulls’ Last Stand: The major psychological support remains at $1,800. If ETH drops to this level, we might see strong buyer interest returning.
• RSI Indicator: The Relative Strength Index (RSI) is currently at 39.30, well below the neutral 50 level, indicating that Ethereum is approaching oversold conditions but hasn’t hit bottom just yet.

ETH/USD 1-week chart - TradingView

Ethereum Trading Setup

? For Swing Traders:

1. Entry Zone: Around $2,200 if the price drops further.
2. Take Profit Targets: $2,535 (short-term), $2,744 (mid-term).
3. Stop Loss: $1,800 to limit downside risk.

? For Short-Term Traders:

1. Consider shorting if ETH fails to break above $2,535 again.
2. Target a drop back to the $2,200 zone.
3. Tight stop loss above $2,550.

Ethereum Price Prediction: What’s Next?

If Ethereum holds above the $2,400 mark and breaks through the $2,535 resistance, we could see a bullish reversal, targeting the $2,744 resistance and possibly the $3,200 psychological level in the coming months. However, failure to reclaim $2,535 could trigger a further correction toward $2,200 or even $1,800 before any significant rebound.

ETH/USD 1-week chart - TradingView

How to Trade Ethereum?

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