Ethereum Price Surges Above $1,750 and Faces Resistance at $1,820
Ethereum price surged above $1,750 and is consolidating gains, potentially targeting the $1,840 resistance.
- Ethereum initiated a rally over the $1,750 level.
- Current trading is above $1,720 and the 100-hourly Simple Moving Average.
- A bullish trend line is forming with support at $1,780 on the hourly chart of ETH/USD.
- Clearing the $1,820 resistance could lead to further increases.
Price Movements
The price remained stable above $1,650 before rising above $1,700 and recently reaching a high of $1,834. Currently, it is in a consolidation phase after a slight pullback.
Resistance levels are as follows:
- $1,820
- $1,840
- $1,880
- A move above $1,880 could push the price towards $1,920.
An upside break beyond $1,920 might lead to prices around $1,950 or even $2,000.
Potential Declines
If Ethereum does not surpass the $1,820 resistance, a decline may begin. Key support levels include:
- $1,780
- $1,740
- A drop below $1,740 could target $1,700 or the 50% Fib retracement level from the recent low to high.
- Further losses could bring the price down to $1,665 or $1,620.
Technical indicators show:
- Hourly MACD is losing momentum in the bullish zone.
- Hourly RSI is above 50.
Major support is at $1,740 and major resistance at $1,820.