Ethereum Price Moves Above $1,800, Eyes $1,850 Resistance

Ethereum price is rising, currently above $1,800 and attempting to breach the $1,850 resistance.

ETH has started a recovery wave past $1,820.
Price is trading above $1,820 and the 100-hourly Simple Moving Average.
A bullish trend line with support at $1,810 is forming on the hourly chart of ETH/USD.
Further upward movement is possible if the $1,850 resistance level is broken.

Price Movement Details

Ethereum remains supported above $1,780, gaining momentum above the $1,800 zone. The price has surpassed the 50% Fib retracement level from the recent downward move.

Current trading conditions include:

Resistance near $1,840 and the 76.4% Fib retracement level.
Next key resistance at $1,850 and major resistance at $1,920.
Potential for further gains towards $2,000 or even $2,050 if above $1,920.

Possible Downside Scenario

If ETH does not break the $1,850 resistance, it may face a downside correction.

Support levels are as follows:

Initial support near $1,825.
Major support at $1,810 and the trend line.
Further declines could lead to $1,780 and $1,750 support levels.
Key support at $1,665.

Technical indicators show:

Hourly MACD is gaining bullish momentum.
Hourly RSI is above the 50 level.