Earn Your First Bitcoin Sign up and get Bonus Referral bonus up to ,000 Sign up Ethereum price is eyeing an upside break above the ,850 resistance against the US Dollar. ETH price is now trading above ,750 and the 55 simple moving average (4 hours). There was a break above a key contracting triangle with resistance near ,820 on the 4-hour chart (data feed from Coinbase). The pair could climb further if it stays above the ,800 support zone. Ethereum price is rising above the ,820 level against the US Dollar. ETH/USD could rise further if it clears the ,880 resistance zone. Ethereum Price Analysis In the past few days, Ethereum saw a downside correction from the ,020 zone
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Sign up- Ethereum price is eyeing an upside break above the $1,850 resistance against the US Dollar.
- ETH price is now trading above $1,750 and the 55 simple moving average (4 hours).
- There was a break above a key contracting triangle with resistance near $1,820 on the 4-hour chart (data feed from Coinbase).
- The pair could climb further if it stays above the $1,800 support zone.
Ethereum price is rising above the $1,820 level against the US Dollar. ETH/USD could rise further if it clears the $1,880 resistance zone.
Ethereum Price Analysis
In the past few days, Ethereum saw a downside correction from the $2,020 zone against the US Dollar. ETH price declined below the $1,850 level and the 55 simple moving average (4 hours).
The bears even pushed the price below the $1,750 level. A low was formed near $1,737 and the price is now attempting a fresh increase. There was a move above the $1,800 resistance level. The price broke the 23.6% Fib retracement level of the downward move from the $2,020 swing high to the $1,737 low.
There was also a break above a key contracting triangle with resistance near $1,820 on the 4-hours chart. It is now trading above $1,750 and the 55 simple moving average (4 hours).
Immediate resistance on the upside is near the $1,880 level. It is close to the 50% Fib retracement level of the downward move from the $2,020 swing high to the $1,737 low. The next major resistance is near the $1,920 zone. A clear move above the $1,920 level could send the price toward $2,000.
Any more gains could even send the price toward the $2,150 resistance zone or $2,200 in the near term. On the downside, initial support is near the $1,800 level. The next major support is now near the $1,750 level.
A break below the $1,750 support could push the price to $1,600. Any more losses could lead the price toward $1,550 or even $1,500 in the coming days.
Ethereum Price
Looking at the chart, Ethereum price is clearly trading above the $1,750 zone and the 55 simple moving average (4 hours). Overall, Ether price could climb further if it stays above the $1,800 support zone.
Technical indicators
4 hours MACD – The MACD for ETH/USD is now losing momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is now above the 50 level.
Key Support Levels – $1,600, followed by the $1,570 zone.
Key Resistance$ Levels – $1,660 and $1,740.