Ethereum prices have risen above the resistance level of $1850 against the US dollar.ETH prices are currently trading above $1850 and 55 simple moving averages (4 hours)
- Ethereum prices have risen above the resistance level of $1850 against the US dollar.
- ETH prices are currently trading above $1850 and 55 simple moving averages (4 hours).
- On the 4-hour chart (data from Coinbase), a major bullish trend line is forming, with support around $1860.
- If it remains above the support range of $1850, the currency pair may further climb.
The price of Ethereum has risen to over 1850 US dollars against the US dollar. If the resistance zone of $1940 is cleared, ETH/USD may further rise.
Ethereum Price Analysis
In the past few days, the Ethereum exchange rate has risen significantly to over 1800 US dollars. ETH prices can accelerate the pace, breaking through $1850 and 55 simple moving averages (4 hours).
Bulls even pushed prices above the resistance level of $1880. There is a significant movement above the 50% Fibonacci retracement level, which was corrected downward from the high point of $1943 to the low point of $1823. Similarly, Bitcoin prices have risen above the resistance level of $29000.
The price of Ethereum is currently trading above $1850 and 55 simple moving averages (4 hours). There is also a main bullish trend line on the 4-hour chart that forms support around $1860.
The current price trend is 76.4% higher than the downward correction of Fibonacci retracement from the high point of $1943 to the low point of $1823, indicating more room for improvement. The direct resistance level for the upward trend is around $1940. The next major resistance level is near the $1950 area.
A level significantly higher than $1950 may push the price towards $2000. Any further increase may even push prices towards the resistance zone of $2120 or $2200 in the short term.
The downside is that the initial support level is around $1880. The next major support is now close to the $1850 level and trend line. Falling below the support level of $1850 may push the price up to $1800. Any further losses could lead to a price increase of $1740.
Looking at the chart, the price of Ethereum is significantly higher than the $1850 region and the 55 simple moving average (4 hours). Overall, if the price of Ethereum remains above the support range of $1850, it may further climb.
Technical indicators
The 4-hour MACD – ETH/USD MACD is now gaining momentum in bullish areas.
4-hour RSI (Relative strength index) - The RSI of ETH/USD is now higher than 50.
Key support level - $1860, followed by the $1850 area.
Key resistance levels - $1950 and $2000.
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