This Ethereum price forecast is a top-down analysis to determine key ETH levels ahead of President Donald Trump’s first Crypto Summit in the US. Let’s take a look at the Ethereum’s Time Price Opportunity (TPO) chart to determine two key levels where ETH could gravitate ahead of the first US Crypto Summit today. In Thursday’s late New York trading session, Trump signed an executive order to establish a Strategic Bitcoin Reserve and National Digital Asset Stockpile. Bitcoin (BTC) briefly hit $90K before this announcement but BTC price crashed as Trump signed the executive order. This caused the ETH price to drop down to $2,000. What’s next for Ethereum? Ethereum Price Today: When Will ETH Chop End? Ethereum (ETH) price is down 1.40% today and currently trades at $2.173 , continuing yesterday’s 1.75% drop. The last five days for ETH have been extremely choppy, with prices rallying as much as 13% in a day and then dropping 15% the next day. Choppy market conditions are when the price fails to establish a trend and consolidates with above-average volatility. Ethereum Price Forecast: ETH TPO Chart Shows 2 Key Levels to Watch Ahead of Crypto Summit According to TradingView , the Time Price Opportunity (TPO) is a “Market Profile” and is used to “analyze market activity by price level as it develops over time.” A TPO chart provides a different perspective on “market dynamics and the distribution of prices by visualizing the blocks of time spent at each of the profile’s price levels and the sequence of level traversals within the profile’s period.” Ethereum’s TPO chart shows two naked Points of control (nPOC) at $2,292 and $2,087. A POC is where the price spent the most time, and a naked POC shows that this level is untested after the day ended. Tagging this level leads to a strong reaction and can serve as support and resistance levels. Therefore, the $2,292 and $2,087 are two Ethereum price levels that investors need to keep an eye on ahead of the Crypto Summit today. ETH TPO Chart ETH Top-Down Analysis The Ethereum price chart with multiple time frame data lets us get a bird’s-eye view of what investors can expect next from ETH. The first three charts from the top left are the 1-month, 1-week and TPO charts. Following this are the 1-day and 4-hour charts. The monthly & weekly Ethereum price charts show three key levels. The monthly bearish imbalance , aka Fair Value Gap (FVG), at $2,551 . A key support level at $2,084 , a breakdown of which could lead to a bearish development that could push ETH price down to $1,000. The key resistance level at $2,857 , a breakout above this barrier will potentially lead to a retest of $4,000 or new highs. The TPO and daily chart further highlight the aforementioned nPOCs. The $2,292 and $2,349, serve as key short-term resistance levels . The nPOC at $2,087 serve as a stable support level . Finally, the four-hour chart clearly shows Ethereum price holding the $2,086 support level, which is key to establishing the next trend. If the Crypto Summit announces more positive developments surrounding the cryptocurrency ecosystem, ETH price could bounce from $2,086 and tag $2,808 , which closely coincides with the HTF levels noted on the monthly and weekly timeframe. Ethereum Price Top-Down Analysis Conclusion Ethereum price is experiencing volatility ahead of the White House Crypto Summit , with key levels to watch at $2,292 and $2,087 . A bullish Ethereum price forecast driven by an announcement at the summit could propel the ETH price higher to $3,000, while a lack of clarity might trigger a retreat below $2,000. The post Ethereum Price Forecast: 2 Key ETH Levels to Watch Ahead of First US Crypto Summit appeared first on CoinGape .
