Ethereum prices began a negative side fix and tested the $1,750 zone. ETH is currently rising and is attempting to move beyond the $1,850 resistance.
- Ethereum has launched a new wave of recovery that exceeds $1,800 resistance.
- The price is trading above $1,800, and is a simple moving average of 100 hours.
- On the hourly chart of ETH/USD (data feed via Kraken), there was a break above a key bearish trend line with resistance.
- The pair could continue to rise once they break the $1,850 resistance level.
Ethereum prices are higher
Ethereum prices have started a minus side fix from the $1,880 zone, like Bitcoin. ETH fell below the support levels of $1,850 and $1,800. Finally, I found support that priced close to the $1,750 level.
The lows formed at $1,752, and prices began to rise again. There was a move above the $1,800 and $1,810 resistance levels. Prices rose above the 50% FIB retracement level of downward travel, from a Swing High of $1,872 to a low of $1,752.
What’s more, there was a break above the key bearish trendline with resistance on the ETH/USD hourly wage chart. Ethereum prices are currently trading above $1,800, a simple moving average of 100 hours.
The advantage is that the price appears to be facing a hurdle close to the $1,840 level. The next important resistance is close to the $1,850 level. The first major resistance is close to the $1,880 level.
A clear move above the $1,880 resistance could potentially send the price towards a $1,920 resistance. A rise break above $1,920 resistance could require more profits in upcoming sessions. If stated, ether could rise towards a $2,000 resistance zone, and even $2,050.
Another reduction in ETH?
If Ethereum fails to clear its $1,850 resistance, it could begin a new decline. The initial support for the downside is close to the $1,820 level. The first major support is near the $1,810 zone.
A clear move below $1,810 support could push the price up to $1,780 support. Any further losses could send prices towards a support level of $1,750 in the short term. The following key support is $1,665.
Technical indicators
Timely MACD – ETH/USD’s MACD is gaining momentum in the bullish zone.
Hourly RSI – ETH/USD’s RSI is over 50 zones.
Key Support Levels – $1,810
Major Resistance Levels – $1,850
