Ethereum Price Surges Above $1,700; Eyes $1,800 Resistance
Ethereum Price Analysis
- Ethereum surpassed the $1,650 resistance level.
- Current trading is above $1,700 and the 100-hourly Simple Moving Average.
- Breakouts occurred at $1,700 and $1,760 on the ETH/USD hourly chart.
- Potential for further increases if it clears the $1,800 resistance.
Ethereum began a rally after remaining stable above $1,550, trading above $1,620 and breaking past $1,700. A peak was reached at $1,803, with signs indicating potential gains. The price faces challenges around $1,800, with key resistance at $1,820.
- Major resistance identified at $1,850 could lead to a rise toward $1,920.
- Pushing past $1,920 may target $1,950 or even $2,000.
If the $1,800 resistance holds, Ethereum might decline. Initial support is at $1,765, followed by major support at $1,710. A move below $1,710 could push prices to $1,700 or lower.
Technical indicators show:
- MACD gaining momentum in the bearish zone.
- RSI above 50.