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Ethereum Price began a downward correction and tested the $ 1,750 area. ETH is now increasing and trying a movement over the resistance of $ 1,850.
- Ethereum began a new recovery wave above the resistance of $ 1,800.
- The price is quoted above $ 1,800 and the simple mobile average of 100 hours.
- There was a break over a key bearish trend with resistance to $ 1,820 in the ETH/USD -hour graph (data food through Kraken).
- The pair could continue advancing if it breaks the resistance level of $ 1,850.
Ethereum’s price aims
Ethereum Price began a downward correction of the $ 1,880 zone, such as Bitcoin. ETH decreased below the support levels of $ 1,850 and $ 1,800. Finally, the price found support near the level of $ 1,750.
A minimum formed to $ 1,752 and the price began a new increase. There was a movement above the resistance levels of $ 1,800 and $ 1,810. The price rose above the FIB decrease level of 50% of the downward movement from the $ 1,872 to the minimum of $ 1,752.
In addition, there was a break over a key bearish tendency with resistance to $ 1,820 in the ETH/USD -hour graph. The price of Ethereum is now quoted above $ 1,800 and the simple mobile average of 100 hours.
On the positive side, the price seems to be facing obstacles close to the level of $ 1,840 and the FIB recoil level of 76.4% of the downward movement from the swing of $ 1,872 to the maximum to the minimum of $ 1,752. The next key resistance is close to the level of $ 1,850. The first important resistance is close to the level of $ 1,880.
A clear movement above the resistance of $ 1,880 could send the price towards the resistance of $ 1,920. An upward break over the resistance of $ 1,920 may require more profits in the next sessions. In the established case, Ether could rise to the resistance zone of $ 2,000 or even $ 2,050 in the short term.
Another decrease in ETH?
If Ethereum cannot eliminate the resistance of $ 1,850, a new decrease could begin. The initial support at the disadvantage is close to the level of $ 1,820. The first important support is located near the $ 1,810 zone.
A clear movement below the $ 1,810 support could boost the price towards the $ 1,780 support. More losses can send the price to the support level of $ 1,750 in the short term. The following key support is at $ 1,665.
Technical indicators
Macd per hour – The MACD for ETH/USD is gaining impulse in the upward zone.
RSI per hour – The RSI for ETH/USD is now above zone 50.
Important support level: $ 1,810
Greater resistance level: $ 1,850
