The price of Ethereum is still having difficulty rising beyond the $1,920 barrier vs the US Dollar. Though ETH is declining, further declines could be restricted below $1,850.
The 100-hour simple moving average and $1,860 are being crossed by the price. On the hourly charts of ETH/USD, there was a break above a negative trend line connecting with resistance around $1,880 (data feed via Kraken).
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The pair may increase once more before closing below the $1,850 support area.
Ethereum Price Bulls Maintain Control Despite Momentum Dip,Ethereum Price Bulls Maintain Control Despite Momentum Dip
Ethereum’s pricing remains range-bound
When Ethereum was above the $1,850 support level, it stayed steady. Like Bitcoin, ETH attempted to rally above the $1,880 barrier once more.
On the hourly charts of ETH/USD, there was a break above the negative trend line connecting with resistance around $1,880. But once more, the combination was unable to break over the $1,920 barrier level. The price is declining and reached a peak at $1,907 at one point.
It dropped below the $1,885 mark. The 50% Fibonacci retracement level of the last spike from the low at $1,851 to the high at $1,907 was also tested by the price.
Right present, the price of Ethereum is above both the 100-hour simple moving average and $1,860. Positively, the price is encountering resistance close to the $1,900 mark. $1,920 is the first significant resistance level. The bulls must overcome the $1,920 barrier in order to initiate a new upswing.
The price may increase to the $2,000 resistance in the aforementioned scenario. The price may advance to $2,120 levels over the next significant barrier, which is located around $2,050.
Are ETH dips restricted?
Ethereum may drop more if it is unable to overcome the $1,900 barrier. Initial support on the downside is located close to the $1,880 mark. The 100-hourly SMA, or $1,870, is the next significant support.
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At $1,870 is also the 61.8% Fibonacci retracement level of the most recent advance from low $1,851 to high $1,907 dollars. $1,850 is the primary support level. If Ether drops below the $1,850 support level, it may drop even lower. In the aforementioned scenario, the price may fall to $1,780.
technical data sources
- the hourly macd The ETH/USD MACD is lagging behind the bullish zone.
- the hourly rsi The RSI for ETH/USD is now above the 50 level.
- Major Assistance Level: $1,870
- $1,920 is the main resistance level.
Ethereum Price Bulls Maintain Control Despite Momentum Dip,Ethereum Price Bulls Maintain Control Despite Momentum Dip,Ethereum Price Bulls Maintain Control Despite Momentum Dip , Ethereum coin Crypto news, Ethereum coin News