Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Ethereum price is consolidating below the $1,900 resistance against the US Dollar. ETH could attempt another increase unless there is a close below $1,825.
- Ethereum is trading in a range above the $1,850 level.
- The price is trading above $1,870 and the 100-hourly Simple Moving Average.
- There is a key bearish trend line forming with resistance near $1,890 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start a decent increase if it clears $1,890 and $1,900.
Ethereum Price Holds Support
Ethereum’s price made another attempt to gain strength above $1,900. However, ETH failed to settle above the $1,900 resistance and remained in a range, similar to Bitcoin.
There was a bearish reaction below $1,880. A low is formed near $1,862 and the price is now moving higher. There was a break above the $1,880 level. The price climbed above the 50% Fib retracement level of the recent drop from the $1,905 swing high to the $1,862 low.
Ether is now trading above $1,870 and the 100-hourly Simple Moving Average. Immediate resistance is near the $1,890 level. There is also a key bearish trend line forming with resistance near $1,890 on the hourly chart of ETH/USD.
Source: ETHUSD on TradingView.com
The trend line is close to the 61.8% Fib retracement level of the recent drop from the $1,905 swing high to the $1,862 low. The first major resistance is near the $1,900 zone. A close above the $1,900 resistance could start a decent increase toward $1,955. The next major resistance is near the $1,975 level. Any more gains could send Ether toward the $2,050 resistance.
Another Decline in ETH?
If Ethereum fails to clear the $1,900 resistance, it could start another decline. Initial support on the downside is near the $1,870 level or the 100-hourly Simple Moving Average.
There is also a connecting bullish trend line at $1,870. The first major support is near the $1,845 level, below which the price might revisit the key support at $1,825. The next major support is near the $1,770 level. Any more losses could send Ether toward the $1,720 support level in the near term.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 level.
Major Support Level – $1,845
Major Resistance Level – $1,900
