.What Levels to Watch Today in Ethereum? – Ethereum is rising and broke the key resistance of $ 1,800 against the US dollar. ETH price is showing positive signs and will likely continue to rise towards $ 2,000.
Ethereum forms a support base above the $ 1,750 and $ 1,760 levels.
The price is currently well above the $ 1,800 zone and the 100 hourly simple moving average.
There was a break above a major bearish trend line with resistance near $ 1,780 on the hourly chart of ETH / USD.
The pair could start a strong uptrend after clearing the $ 1,850 resistance zone.
Ethereum Price Sees New Volatility
Ethereum continued to bid above the $ 1,750 support zone. As a result, ETH started a new rise above the $ 1,800 resistance zone, similar to Bitcoin above $ 58,000.
The bulls took control, causing a steady rise above the $ 1,800 resistance. It is currently well above the $ 1,800 zone and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance around $ 1,780 on the hourly chart of ETH / USD.
Ethereum price is currently testing the $ 1,850 resistance zone. The 61.8% Fib retracement level of the key drop from the $ 1,944 high volatility to the $ 1,710 support zone is also near the $ 1,855 level to act as a major hurdle.
A successful break above the $ 1,850 and $ 1,855 resistance levels could open the doors for a larger increase. The next key resistance is near the $ 1,895 level, above this Ethereum price could rise to $ 1,920 or even $ 2,000 in the next sessions.
New Drop in ETH?
If Ethereum fails to break above the $ 1,850 and $ 1,855 resistance levels, it could initiate a new downside correction. The first downside support is near the $ 1,800 level and the 100 hourly simple moving average.
The next major support is near the $ 1,750 level, below that Ethereum price could retest the main $ 1,710 support zone in the near term.
Technical indicators
Hourly MACD – The MACD for ETH / USD is now gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH / USD is well above the 50 level.
Major Support Level: $ 1,750.
Major Resistance Level: $ 1,855.
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