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Ethereum (ETH/USD) is trading around $1,813, below the 2/8 Murray and below the 21 SMA, showing bearish pressure. So, it is likely to find good support above $1,800.
On the H4 chart, we can see that Ethereum could find good support at the lower band of the downtrend channel around $1,780. This level could be seen as a point for a technical rebound, and it is expected to return to the $1,900 level in the coming days and even to the upper band of the downtrend channel around $1,935.
If ETH/USD falls below the downtrend channel and consolidates above $1,780, the outlook could be negative, and it is expected to reach the /8 Murray around $1,562 in the short term.
In the medium term, ETH/USD is expected to fall to the 8/8 Murray levels around $1,250. This level is key, and we could expect Ethereum to trade around this area in the coming days.
At current price levels above the lower band of the uptrend channel, it will be seen as a signal to buy above $1,780 with targets at $1,875 and the 21 SMA around $1,900.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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