If Ethereum clears $1,800, its price could recover.

The price of Ethereum is trying to recover and go above the $1,740 level against the US dollar. If it manages to move above the $1,780 resistance, there is a chance that it will steadily rise. Currently, Ethereum is still below the $1,780 and $1,800 resistance levels and is trading below $1,780 and the 100-hourly Simple Moving Average. However, there was a break above a major bearish trend line with resistance near $1,740 on the hourly chart of ETH/USD (data feed via Kraken), which could help it recover if it moves above the $1,780 and $1,800 levels. Ethereum’s price settled below the $1,775 and $1,780 resistance levels and tested the $1,720 zone, forming a support base similar to Bitcoin. The price is moving slowly higher above the $1,740 level, but still trading below $1,780 and the 100-hourly Simple Moving Average. Immediate resistance is near the $1,770 zone and the 100-hourly Simple Moving Average, and the next major resistance is near the $1,785 level. If it manages to move above these resistance levels, it might send Ether towards $1,820, with the next resistance sitting near $1,850, above which Ethereum could rise towards the $1,880 level. However, if Ethereum fails to clear the $1,770 resistance, it could start another decline, with initial support on the downside near the $1,730 level and the next major support near the $1,720 level. The technical indicators show that the MACD for ETH/USD is losing momentum in the bearish zone and the RSI for ETH/USD is now above the 50 level. The major support level is $1,720, and the major resistance level is $1,780.