Ethereum Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

    * Ethereum faces a decline, struggling to surpass $2,000 and entering a bearish zone like Bitcoin, with current price around $1,843.

    * Breaking above $1,915 resistance could lead to a surge towards $1,940 and possibly $2,000 or $2,050.

    * Failure to clear $1,900 could result in further price drops, with support levels at $1,840, $1,800, and potentially $1,740 or $1,700.

Ethereum's struggle to surpass the $2,000 mark led to a decline, entering a bearish zone like Bitcoin. Currently, ETH's price hovers around $1,843, with resistance forming near $1,900 on the hourly chart. Immediate resistance lies at $1,890, close to the 50% Fib retracement level of the recent drop.

If Ethereum can break above $1,915, it could surge towards $1,940 and potentially reach $2,000 or $2,050. However, if it fails to clear $1,900, the price might continue to drop, with support levels at $1,840, $1,800, and possibly $1,740 or $1,700.

Ethereum - Trade Idea

Entry Price – Sell Below 1880

Stop Loss – 1910

Take Profit – 1845

Risk to Reward – 1 : 1.17

Profit & Loss Per Standard Lot = +$317/ -$270

Profit & Loss Per Micro Lot = +$31.7/ -$27