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Ethereum -Price started a recovery wave above the level of $ 1,850. ETH is now consolidating and is confronted with important obstacles near the level of $ 1,920.
- Ethereum started a recovery wave above $ 1,820 and $ 1,850 levels.
- The price is traded above $ 1,860 and the 100-hour simple advancing average.
- There is a connecting bullish trend line that forms with support for $ 1,860 on the hourly table ETH/USD (data feed via Kraken).
- The couple must delete the resistance levels of $ 1,900 and $ 1,920 to start a considerable increase.
Ethereum -Price starts recovery
Ethereum Price managed to stay above the $ 1,750 support zone and started a recovery wave, such as Bitcoin. ETH was able to climb above the resistance levels of $ 1,820 and $ 1,850.
The bull even pushed the price above the $ 1,880 resistance zone. There was a movement above the 50% FIB retracement level of the downward wave of the $ 2,032 swing high to $ 1,767 low. However, the bears are active near the $ 1,920 zone.
Ethereum price is now traded above $ 1,850 and the 100-hour simple advancing average. There is also a connecting bullish trend line that forms with support for $ 1,860 on the ETH/USD per hour.
At the top the price seems to have to do with obstacles near the level of $ 1,900. The following key resistance is near the $ 1,920 level and the 61.8% FIB retracement level of the downward wave of the $ 2,032 Swing high to $ 1,767 low.
The first major resistance is near the level of $ 1,970. A clear movement above the $ 1,970 resistance can send the price to $ 2,020 resistance. An upward break above the $ 2,020 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,050 resistance zone or even $ 2,120 in the short term.
Another decline of ETH?
If Ethereum did not know the resistance of $ 1,920, this can start a new decline. The first support on the disadvantage is near the level of $ 1,860 and the trend line. The first major support is near the $ 1,845 zone.
A clear movement under the support of $ 1,845 can push the price to $ 1,800 support. All losses can send the price in the short term to the support level of $ 1,765. The following key support is at $ 1,710.
Technical indicators
Hour MacD – The MACD for ETH/USD loses momentum in the bullish zone.
Hour RSI – The RSI for ETH/USD is now above 50 zone.
Major support level – $ 1,860
Main resistance level – $ 1,920