Latest Analysis: Ethereum Needs to Overcome These Resistances to Rise!

  • Ethereum is currently moving downwards from the $1,880 resistance level.
  • The price is trading below $1,850 and the 100-hour Simple Moving Average.
  • If there is a move above the $1,840 and $1,880 resistance levels, the pair could start a good increase.

After failing to hold above $2,000, will Ethereum’s price continue to fall? Current analysis!

Current Technical Analysis of Ethereum (ETH)!

Ethereum (ETH)

Ethereum’s price is struggling to surpass the $1,850 and $1,880 resistance levels against the US Dollar. ETH can start a reasonable increase unless it closes below $1,800.

The price sharply dropped below the $1,850 level, falling to $1,792 before rising to $1,865. A high was formed around $1,865 and the price is now falling further. The upward movement from $1,792 to $1,865 traded below the 50% Fib retracement level.

ETH is currently trading below $1,850 and the 100-hour Simple Moving Average. There is also an important downtrend line formed with resistance near $1,840 on the hourly chart of the ETH/USD pair.

eth-usd-saatlik

ETH/USD Hourly Price Chart

The resistance is near the $1,835 level. The next resistance is near $1,840, where Ethereum can test the 100-hour Simple Moving Average. The main resistance is currently forming near the $1,880 level. A close above the $1,880 resistance zone could start a good increase towards the $1,920 resistance. Further gains could send the price to the $1,975 resistance.

If Ethereum cannot surpass the $1,840 resistance, it could continue to fall. The first support on the downside is near the $1,820 level or the 61.8% Fib retracement level of the upward movement from $1,792 to $1,865.

The next major support is near the $1,800 level. If there is a downside break and close below $1,800, the price could fall significantly. In that case, the price could drop to the $1,740 support zone. Further losses could possibly bring the price to the $1,650 level in the short term.

Technical Indicators

  • Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.
  • Hourly RSI – The RSI for ETH/USD is below the 50 level.
  • Main Support Level – $1,800
  • Main Resistance Level – $1,840
Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Poised for $1 Trillion Institutional Influx in Bull Market, Predicts Bitwise Executive

Amid the current price fluctuations, Bitwise's Matthew Hougan remains bullish on Bitcoin, anticipating a massive $1 trillion investment from institutional players through ETFs, highlighting the asset's promising future despite short-term market movements.

Litecoin Dominates Crypto Payments, Gearing Up for Major Network Upgrade with MWEB

As Litecoin ascends to the pinnacle of crypto payments, its imminent MWEB upgrade promises to redefine scalability and privacy in digital currencies.

Ethereum Targets $4K Milestone: Momentum Builds Beyond $3,680 Resistance

Ethereum price holds strong above $3,500, with indicators pointing towards a continued upward journey. A crucial test awaits at the $3,680 resistance, potentially paving the way to $4,000.

Bitcoin Breaks $70,000 Resistance: A Prelude to Further Gains?

Bitcoin shows signs of a robust recovery, climbing above the $70,000 resistance, with eyes set on breaching the $71,500 barrier for further gains.

MicroStrategy Faces “Unjustifiable Premium” to Bitcoin as Spot ETFs Emerge, Analysts Argue

An investment analysis reveals MicroStrategy's disproportionate valuation compared to Bitcoin, sparking debate over its appeal in light of emerging spot ETFs.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Targets $4K Milestone: Momentum Builds Beyond $3,680 Resistance

Ethereum price holds strong above $3,500, with indicators pointing towards a continued upward journey. A crucial test awaits at the $3,680 resistance, potentially paving the way to $4,000.

Bitcoin BTC Surges Past $70k, Could Further Rally to $75K

Stay ahead of the crypto market curve with this in-depth analysis of Bitcoin's price action, potential drivers, and what to expect next.

Bitcoin BTC’s Path to $70k: Can BTC Overcome the $66.7k Resistance?

Exploring Bitcoin's potential resurgence to $70k, this analysis scrutinizes the pivotal $66.7k resistance level, subsequent targets, and the significance of liquidation levels for investors.

Will WLD Coin Surge to $12? An In-Depth Analysis of WLD’s Potential!

This analysis delves into WLD Coin's current market behavior, highlighting the technical formations that suggest a potential rise to $12, while advising caution at key support levels.

NEO Coin Targets Ambitious Growth: Aiming for $25 in the Long-Term Analysis

This article delves into NEO Coin's long-term prospects, spotlighting the technical analysis and potential price targets that make it a cryptocurrency to watch.
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Ethereum Targets $4K Milestone: Momentum Builds Beyond $3,680 Resistance

Ethereum price holds strong above $3,500, with indicators pointing towards a continued upward journey. A crucial test awaits at the $3,680 resistance, potentially paving the way to $4,000.

Ethereum Futures Hit Record Highs: Sign of a Bullish Rally or Bearish Sentiment Ahead?

Ethereum futures' record-setting open interest stirs the market, presenting a complex scenario intertwined with regulatory prospects, institutional interest, and derivative indicators, as ETH eyes the $3,800 threshold.

Vitalik Buterin Proposes Decentralization Boost for Ethereum Staking with Anti-Correlation Penalties!

For strengthen Ethereum's decentralization, Vitalik Buterin has outlined a proposal that could alter the staking landscape by penalizing correlated validator failures, thereby promoting more diversified and resilient network participation.