Ethereum Price Regains Traction—Can Bulls Break Through the Barrier?

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Ethereum price started a downside correction and tested the $1,750 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,800 resistance. The price is trading above $1,800 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $1,820 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it breaks the $1,850 resistance level. Ethereum Price Aims Higher Ethereum price started a downside correction from the $1,880 zone, like Bitcoin. ETH declined below the $1,850 and $1,800 support levels. Finally, the price found support near the $1,750 level. A low was formed at $1,752 and the price started a fresh increase. There was a move above the $1,800 and $1,810 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $1,872 swing high to the $1,752 low. Besides, there was a break above a key bearish trend line with resistance at $1,820 on the hourly chart of ETH/USD. Ethereum price is now trading above $1,800 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $1,840 level and the 76.4% Fib retracement level of the downward move from the $1,872 swing high to the $1,752 low. The next key resistance is near the $1,850 level. The first major resistance is near the $1,880 level. A clear move above the $1,880 resistance might send the price toward the $1,920 resistance. An upside break above the $1,920 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,000 resistance zone or even $2,050 in the near term. Another Decline In ETH? If Ethereum fails to clear the $1,850 resistance, it could start a fresh decline. Initial support on the downside is near the $1,820 level. The first major support sits near the $1,810 zone. A clear move below the $1,810 support might push the price toward the $1,780 support. Any more losses might send the price toward the $1,750 support level in the near term. The next key support sits at $1,665. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $1,810 Major Resistance Level – $1,850 Source: https://www.newsbtc.com/analysis/eth/ethereum-price-regains-traction-1750/