Ethereum price is moving higher above the ,850 resistance against the US Dollar. ETH price is now trading above ,820 and the 55 simple moving average (4 hours). There is a key rising channel forming with support near ,840 on the 4-hour chart (data feed from Coinbase). The pair could climb further if it stays above the ,840 support zone. Ethereum price is rising above the ,850 level against the US Dollar. ETH/USD could rise further if it clears the ,920 resistance zone. Ethereum Price Analysis In the past few sessions, Ethereum saw a decent increase above the ,820 level against the US Dollar. ETH price was able to gain pace for a move above the ,850 level and the 55 simple moving average (4 hours). The bulls even pushed the price above the ,880
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- Ethereum price is moving higher above the $1,850 resistance against the US Dollar.
- ETH price is now trading above $1,820 and the 55 simple moving average (4 hours).
- There is a key rising channel forming with support near $1,840 on the 4-hour chart (data feed from Coinbase).
- The pair could climb further if it stays above the $1,840 support zone.
Ethereum price is rising above the $1,850 level against the US Dollar. ETH/USD could rise further if it clears the $1,920 resistance zone.
Ethereum Price Analysis
In the past few sessions, Ethereum saw a decent increase above the $1,820 level against the US Dollar. ETH price was able to gain pace for a move above the $1,850 level and the 55 simple moving average (4 hours).
The bulls even pushed the price above the $1,880 resistance zone. A high is formed near $1,916 and the price is now consolidating gains. It is trading above the $1,850 level. It is testing the 23.6% Fib retracement level of the upward wave from the $1,777 swing low to the $1,916 high.
Ether’s price is showing positive signs above $1,820 and the 55 simple moving average (4 hours). There is also a key rising channel forming with support near $1,840 on the 4-hour chart.
Immediate resistance on the upside is near the $1,900 level. 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 $2,040 resistance zone or $2,120 in the near term.
On the downside, initial support is near the $1,850 level. The next major support is now near the $1,840 level or the trend line, below which the price might test the 76.4% Fib retracement level of the upward wave from the $1,777 swing low to the $1,916 high at $1,810.
A break below the $1,800 support could push the price to $1,740. Any more losses could lead the price towards $1,640.
Looking at the chart, Ethereum’s price is trading above the $1,820 zone and the 55 simple moving average (4 hours). Overall, Ether’s price could climb further if it stays above the $1,840 support zone.
Technical indicators
4 hours MACD – The MACD for ETH/USD is now gaining 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 – $1,840, followed by the $1,810 zone.
Key Resistance$ Levels – $1,920 and $2,000.