Ethereum Price Increases 12.3% as Resistance at $1,800 Approaches
Ethereum has risen by 12.3% in the past week, currently trading around $1,799 after retesting resistance levels.
Key Resistance and Support Levels
- Resistance at $1,800 could lead to targets of $1,840 if surpassed.
- Previously significant resistance levels were at $1,590, $1,654, and $1,703, now acting as support.
- Minor pullback occurred after reaching $1,800, with support found at $1,730.
Outlook and Risk Levels
- Support at $1,703 is short-term; $1,654 is medium-risk and crucial for maintaining bullish sentiment.
- The strongest support at $1,590 offers a favorable risk-to-reward ratio for potential reentry.
- Current uptrend remains valid above $1,703; a drop below $1,654 would shift outlook to neutral or bearish.
- A close above $1,800 may push prices toward $1,840 or higher.