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

Ethereum Price Update

Ethereum is recovering above the $1,800 resistance.
Current trading price is above $1,800 and the 100-hourly Simple Moving Average.
A break occurred above a bearish trend line at $1,820 on the ETH/USD hourly chart.
Further upward movement is possible if the price surpasses the $1,850 resistance level.

After correcting from $1,880, Ethereum found support near $1,750. It has since rebounded, breaking above key resistance levels at $1,800 and $1,810, as well as the 50% Fib retracement level. However, the price may face challenges near $1,840 and the 76.4% Fib level. Key resistances are at $1,850 and $1,880.

If Ethereum fails to break through $1,850, it could decline with initial support at $1,820, followed by $1,810. A drop below $1,810 may lead to further declines toward $1,780 and then $1,750. The next significant support level is at $1,665.

Technical Indicators

MACD indicates bullish momentum.
RSI is above 50.
Major Support Level – $1,810
Major Resistance Level – $1,850