Ethereum prices have started a new round of rise, breaking through the resistance level of $1880 against the US dollar. ETH is rising and may soon rise to $2000
Ethereum prices have started a new round of rise, breaking through the resistance level of $1880 against the US dollar. ETH is rising and may soon rise to $2000.
- Ethereum is attempting to rise back above $1880.
- The price is above $1880 and the 100 hour simple moving average.
- Breaking through the key bearish trend line on the hourly chart of ETH/USD, the resistance level is around $1860 (data from Kraken).
- If it breaks through the resistance zone of $1920, the currency pair may continue to rise.
Ethereum Price Recovery
Ethereum's price maintains a good bid above the support area of $1800. ETH has started a good upward trend and is able to clear the resistance level of $1850, similar to Bitcoin's $28800.
ETH/USD 1,860 1,900 1,915 The price is above $1880 and the 100 hour simple moving average.
The trading price of Ethereum is much higher than the recent 23.6% Fibonacci retracement level, which rose from a fluctuating low of $1843 to a high of $1915. The direct resistance level is around $1915.
The next major resistance level seems to be forming around $1940. Breaking through the resistance level of $1940 in the upward direction may raise Ethereum to the resistance level of $2000. Any further gains could push the ether towards the resistance level of $2050. In the above situation, Ethereum can even attempt to move towards the resistance level of $2120.
Is there a limit on the decline of ETH?
If Ethereum fails to clear the resistance level of $1915, it may begin a downward correction. The initial support level for the downward trend is around $1890.
The next major support level is around the $1880 area or the 50% Fibonacci retracement level that has recently risen from a fluctuating low of $1843 to a high of $1915, below which Ethereum prices may fall towards the 100 hour moving average. Any further losses may push prices to a level of $1840 in the short term.
Technical indicators
Hourly MACDETH/USD MACD is currently losing momentum in bullish areas.
Hourly RSIThe RSI of ETH/USD is above the 50 level.
Main support level - $1870
Main resistance level - $1915
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
