Ethereum found support near $1,760 and corrected higher against the US Dollar. ETH is now facing a major resistance near $1,850 and $1,880.

  • Ethereum is slowly moving higher and trading above $1,800.
  • The price is now trading below $1,880 and the 100 hourly simple moving average.
  • There is a major bearish trend line forming with resistance near $1,905 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair might start a fresh decline unless there is a clear move above $1,880 and $1,920.

Ethereum Price Faces Resistance

Ethereum extended decline below the $1,850 support zone. It even spiked below the $1,800 before the bulls appeared near the $1,760 zone.

A low was formed near $1,762 and the price started a recovery wave. The price climbed above the $1,800 resistance level. Ether price even moved above the 23.6% Fib retracement level of the downward move from the $2,015 swing high to $1,762 low.

However, the bears are currently protecting more gains above the $1,850 level. It is also trading below $1,880 and the 100 hourly simple moving average.

On the upside, an initial resistance is near the $1,860 level and the 100 hourly simple moving average. The next major resistance is near the $1,880 zone. It is near the 50% Fib retracement level of the downward move from the $2,015 swing high to $1,762 low.

Ethereum Price

Source: ETHUSD on TradingView.com

There is also a major bearish trend line forming with resistance near $1,905 on the hourly chart of ETH/USD. A clear move above the trend line and the $1,920 resistance might start a decent increase. In the stated case, the price could…


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