NewsBTC
Mar 14, 2025
11 0

Ethereum Price Consolidates Below $1,920 Amidst Resistance Challenges

1 min

Ethereum (ETH) is in a recovery phase, trading above $1,820 but facing resistance near $1,950.

  • ETH started recovering from the $1,760 level.
  • Current trading is below $1,920 and the 100-hourly Simple Moving Average.
  • A bearish trend line forms at $1,900 on the hourly chart.
  • Clearing $1,900 and $1,950 is necessary for further increases.

Resistance Levels

ETH has surpassed the $1,820 and $1,850 levels. However, resistance persists around $1,950, which coincides with the 50% Fib retracement level of a previous downward wave.

  • Major resistance at $1,990 could lead to a target of $2,050.
  • A break above $2,050 may push ETH towards $2,120 or $2,250.

Potential Decline

If ETH cannot surpass $1,950, it risks declining further.

  • Initial support is around $1,845, with major support at $1,800.
  • A drop below $1,800 might lead to further declines towards $1,750 and $1,720.
  • Key support is at $1,650.

Technical indicators show the MACD gaining bullish momentum and the RSI above 50.