BlockBeats reported on June 19 that analyst Alicharts analyzed Ethereum’s 1-hour candlestick chart and said ETH has fallen below the lower boundary of its previous ascending channel. Based on that chart view, the next support level is placed at $1,580.
The 1-hour candlestick chart is commonly used to observe shorter-term price movement, while the lower boundary of an ascending channel describes the lower edge of a price range in chart analysis. The key points from Alicharts’ update are that Ethereum has broken below its prior ascending channel support line and that $1,580 is identified as the next support level.
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