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Ethereum -Price started a recovery wave above $ 1,820 zone. ETH is now consolidating and is confronted with obstacles near the $ 1,950 resistance.
- Ethereum started a recovery wave above the level of $ 1,820.
- The price acts under $ 1,920 and the 100-hour simple advancing average.
- There is a bearish trend line in the short term that forms with resistance at $ 1,900 on the hourly table ETH/USD (data feed via Kraken).
- The couple must delete the resistance levels of $ 1,900 and $ 1,950 to start a considerable increase.
Ethereum -Price is reserved
Ethereum -Price formed a base above the level of $ 1,760 and started a recovery wave, such as Bitcoin. ETH was able to erase the resistance levels of $ 1,820 and $ 1,850.
The bulls pushed the price above the $ 1,920 level. There was a movement above the 23.6% FIB racement level of the downward wave of the $ 2,150 swing high to $ 1,752 low. However, the bears seem to be active near the $ 1,950 resistance zone.
Ethereum price is now traded under $ 1,920 and the 100-hour simple advancing average. At the top the price seems to have to do with obstacles near the level of $ 1,900.
There is also a bearish trend line in the short term that forms with resistance at $ 1,900 on the ETH/USD per hour. The following key resistance is near the $ 1,950 level or the 50% FIB retracement level of the downward wave of the $ 2,150 swing high to $ 1,752 low.
The first major resistance is near the level of $ 1,990. A clear movement above the $ 1,990 resistance can send the price to the $ 2,050 resistance. An upward break above the $ 2,050 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,120 resistance zone or even $ 2,250 in the short term.
Another drop in ETH?
If Ethereum did not know the resistance of $ 1,950, this can start a new decline. The first support at the disadvantage is near the level of $ 1,845. The first major support is near the $ 1,800 zone.
A clear movement under the support of $ 1,800 can push the price to $ 1,750 support. All losses can send the price in the short term to the support level of $ 1,720. The following key support is at $ 1,650.
Technical indicators
Hour MacD – The MACD for ETH/USD is gaining force in the bullish zone.
Hour RSI – The RSI for ETH/USD is now above 50 zone.
Major support level – $ 1,800
Main resistance level – $ 1,920
