NewsBTC
Apr 4, 2025
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Ethereum Price Faces Resistance Below $1,840 After Recent Decline

Ethereum Price Analysis

Ethereum is experiencing consolidation after failing to maintain levels above $1,820. Key points include:

  • Failed to hold above $1,850 and $1,840.
  • Currently trading below $1,840 and the 100-hourly Simple Moving Average.
  • Short-term bearish trend line resistance at $1,810.
  • Must surpass $1,820 and $1,840 for a potential increase.

Price Movements

ETH dipped below the $1,800 support, reaching as low as $1,751 before correcting slightly. Significant levels include:

  • Resistance near $1,840 and $1,880.
  • Next major resistance potentially at $1,920.
  • Possible rise to $2,000 if $1,920 is cleared.

Potential Decline

If unable to break through $1,850, another decline may occur:

  • Initial support at $1,765.
  • First major support around $1,750.
  • Further declines could target $1,720 and $1,680.
  • Key support level at $1,620.

Technical Indicators

  • MACD shows bearish momentum.
  • RSI is below 50.
  • Major support at $1,750.
  • Major resistance at $1,850.