Levels Expected Today in Ethereum Where Key Resistance Is Overcome

Ethereum is in a positive zone and recently climbed above the $ 1,900 resistance.

The price is currently well above the $ 1,850 support and the 100 hourly simple moving average.

There is a short-term contract triangle formed with support around $ 1,915 on the hourly chart of ETH / USD.

The pair may correct the decline, but the bulls are likely to remain active above $ 1,850.

Ethereum Price Extends Earnings

Ethereum started a new surge after breaking the $ 1,850 resistance similar to Bitcoin. ETH even surpassed the $ 1,920 resistance and settled well above the 100 hourly simple moving average.

However, the price continued to rise above $ 1,945 and $ 1,950. There were two attempts to clear $ 1,945, but the bulls failed. A high was formed around $ 1,946 and the price is currently correcting lower. There was a break below the $ 1,920 support level.

The price is now approaching the $ 1,915 support. There is also a short-term contract triangle formed with support near $ 1,915 on the hourly chart of ETH / USD.

On the upside, the $ 1,945 and $ 1,950 levels are immediate hurdles. A clear break above the $ 1,950 resistance could open the way to a $ 2,000 test. Further gains could require a move towards the $ 2,045 level.

Are Dips in ETH Limited?

If Ethereum fails to break above the $ 1,945 and $ 1,950 resistance levels, it could retreat to a lower level. The first downside support is near the $ 1,905 level.

The first major support is near the $ 1,860 level. The main support is currently forming near the $ 1,850 level (the last breakout zone), below which the Ethereum price could drop from $ 1,800 to the 100 hourly SMA.

Technical indicators

Hourly MACD – The MACD for ETH / USD is slowly losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH / USD is currently falling towards the 60 level.

Major Support Level: $ 1,850

Major Resistance Level: $ 1,950