Ethereum price stays strong at $1,800, indicating potential upside.

The Ethereum price is holding onto gains above the $1,800 level against the US Dollar. If it manages to surpass the $1,880 resistance zone, ETH could experience bullish momentum.

  • Ethereum is currently attempting to increase its value starting from the $1,820 zone.
  • The price is trading close to $1,865 and the 100-hourly Simple Moving Average.
  • A bearish trend line connecting resistance near $1,838 was broken on the hourly chart of ETH/USD (data feed via Kraken).
  • If the pair successfully clears the $1,880 resistance in the near future, it could steadily rise.

Ethereum Price Aims Fresh Increase

Ethereum’s price initially corrected downwards below the $1,865 support level. However, unlike Bitcoin, the downsides were limited as it briefly dipped below $1,820.

A low was formed near $1,817 and the price is now attempting to increase once again. The $1,840 resistance zone was broken, and a bearish trend line connecting resistance near $1,838 was also breached on the hourly chart of ETH/USD.

Ether is currently testing the 50% Fibonacci retracement level of the downward move from the $1,912 swing high to the $1,817 low. It is also trading near $1,865 and the 100-hourly Simple Moving Average.

The immediate resistance level is near $1,875 or the 61.8% Fibonacci retracement level of the downward move from the $1,912 swing high to the $1,817 low. The next major resistance level is around $1,900, with the first breakout level near $1,920.

Source: ETHUSD on TradingView.com

A close above the $1,920 zone could initiate a fresh rally, with the next resistance level situated near $2,000. If this level is surpassed, the price could rise towards $2,050. Any further gains may push Ether towards the $2,120 resistance level.

Another Decline in ETH?

If Ethereum fails to clear the $1,875 or $1,880 resistance levels, it could experience another decline. The initial support on the downside is near the $1,860 level and the 100-hourly Simple Moving Average.

The next major support level is around $1,840, with the first major support level near $1,820. If the price moves below $1,820, it could drop towards $1,790. Further losses may potentially bring the price towards the $1,740 support level.

Technical Indicators

Hourly MACD The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI The RSI for ETH/USD is currently below the 50 level.

Major Support Level – $1,820

Major Resistance Level – $1,880