Ethereum Price Consolidates Near Key Resistance Level of $1,920

Ethereum Price Recovery Update

Ethereum price is recovering above $1,850.
Current trading levels are above $1,860 and the 100-hourly Simple Moving Average.
A bullish trend line has formed with support at $1,860.
Key resistance levels to watch are $1,900 and $1,920.

Ethereum remains above the $1,750 support zone, moving past both $1,820 and $1,850. The price surpassed the 50% Fib retracement level from a previous high of $2,032 to a low of $1,767, but faces resistance near $1,920. A break above this level could lead to further gains toward $2,020 and possibly $2,050.

If Ethereum fails to breach the $1,920 level, it may decline. Initial support is around $1,860, with major support at $1,845. A drop below $1,845 could push the price down to $1,800 or lower.

Technical indicators show the MACD for ETH/USD losing momentum while the RSI remains above 50.

Major Support Level: $1,860
Major Resistance Level: $1,920