Ethereum prices have begun a new increase beyond the $1,800 zone. ETH is currently rising and is attempting to move beyond the $1,850 resistance.
- Ethereum has launched a new wave of recovery that exceeds $1,820 resistance.
- The price is trading above $1,820, and is a simple moving average of 100 hours.
- ETH/USD time charts (data feeds via Kraken) form a bullish trendline of connections with $1,810 support.
- The pair could continue to rise once they break the $1,850 resistance level.
Ethereum prices continue to be supported for profit
Ethereum prices remained supported, launching new increases above $1,780, like Bitcoin. ETH gained pace for movements beyond the $1,800 resistance zone.
The Bulls were able to push prices above the 50% FIB retracement level of downward travel, from a Swing High of $1,872 to a low of $1,752. What’s more, there’s a bullish trendline of connections with $1,810 support on the ETH/USD hourly wage chart.
Ethereum prices are currently trading above $1,820, a simple moving average of 100 hours. The advantage is that the price appears to be facing a hurdle close to the $1,840 level.
The next important resistance is close to the $1,850 level. The first major resistance is close to the $1,920 level. A clear move above the $1,920 resistance could turn the price towards the $1,950 resistance. An upward break above the $1,950 resistance could require more profits in future sessions. If stated, ether could rise towards a $2,000 resistance zone, and even $2,050.
Another reduction in ETH?
If Ethereum fails to clear the $1,850 resistance, it may begin a new defect correction. The initial support for the downside is close to the $1,825 level. The first major support is near the $1,810 zone and trendline.
A clear move below $1,810 support could push the price up to $1,780 support. Any further losses could send prices towards a support level of $1,750 in the short term. The following key support is $1,665.
Technical indicators
Timely MACD – ETH/USD’s MACD is gaining momentum in the bullish zone.
Hourly RSI – ETH/USD’s RSI is over 50 zones.
Key Support Levels – $1,810
Major Resistance Levels – $1,850
