Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000
- Ethereum price is eyeing an upside break above the $1,760 resistance against the US Dollar.
- ETH price is now trading above $1,720 and the 55 simple moving average (4 hours).
- There was a break above a key bearish trend line with resistance near $1,725 on the 4-hour chart (data feed from Coinbase).
- The pair could climb further if it stays above the $1,685 support zone.
Ethereum price is rising above the $1,720 level against the US Dollar. ETH/USD could rise further if it clears the $1,760 resistance zone.
Ethereum Price Analysis
In the past few days, Ethereum saw a bearish wave from the $1,900 zone against the US Dollar. ETH price declined below the $1,800 level and the 55 simple moving average (4 hours).
The bears even pushed the price below the $1,700 level. A low was formed near $1,620 and the price is now attempting a fresh increase. There was a move above the $1,680 resistance level. The price broke the 23.6% Fib retracement level of the downward move from the $1,898 swing high to the $1,620 low.
There was also a break above a key bearish trend line with resistance near $1,725 on the 4-hours chart. It is now trading above $1,720 and the 55 simple moving average (4 hours).
Immediate resistance on the upside is near the $1,760 level. It is close to the 50% Fib retracement level of the downward move from the $1,898 swing high to the $1,620 low. The next major resistance is near the $1,800 zone. A clear move above the $1,800 level could send the price toward $1,850.
Any more gains could even send the price toward the $1,900 resistance zone or $1,920 in the near term. On the downside, initial support is near the $1,700 level. The next major support is now near the $1,680 level.
A break below the $1,680 support could push the price to $1,620. Any more losses could lead the price toward $1,550 or even $1,500 in the coming days.
Looking at the chart, Ethereum price is clearly trading above the $1,720 zone and the 55 simple moving average (4 hours). Overall, Ether price could climb further if it stays above the $1,760 support zone.
Technical indicators
4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is now above the 50 level.
Key Support Levels – $1,680, followed by the $1,620 zone.
Key Resistance$ Levels – $1,760 and $1,800.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- EVM Finance. Unified Interface for Decentralized Finance. Access Here.
- Quantum Media Group. IR/PR Amplified. Access Here.
- PlatoAiStream. Web3 Data Intelligence. Knowledge Amplified. Access Here.
- Source: https://www.livebitcoinnews.com/ethereum-price-analysis-eth-could-recover-to-1900/
- :is
- $3
- $UP
- 23
- 28
- 50
- 500
- 7
- a
- above
- against
- also
- an
- analysis
- and
- any
- At
- attempting
- average
- bearish
- Bears
- below
- Bitcoin
- Bitcoin News
- Bonus
- Break
- Broke
- Bullish
- by
- Chart
- clear
- clearly
- climb
- Close
- coinbase
- COM
- coming
- comments
- could
- data
- Days
- Dollar
- downside
- downward
- end
- ETH
- eth price
- ETH/USD
- Ether
- Ether Price
- ethereum
- Ethereum Price
- Ethereum Price Analysis
- Even
- eyeing
- few
- First
- follow
- followed
- For
- formed
- fresh
- fresh increase
- from
- further
- gaining
- Gains
- get
- High
- HOURS
- HTTPS
- if
- in
- Increase
- index
- initial
- internal
- IT
- Key
- lead
- Level
- levels
- Line
- live
- Live Bitcoin News
- logo
- losses
- Low
- MACD
- major
- Momentum
- more
- move
- moving
- moving average
- Near
- news
- next
- now
- of
- on
- or
- overall
- pair
- past
- plato
- Plato Data Intelligence
- PlatoData
- Post
- price
- Price Analysis
- Push
- pushed
- Recover
- Referral
- relative
- relative strength index
- Resistance
- retracement
- Rise
- rising
- rsi
- saw
- send
- sign
- Simple
- strength
- support
- support levels
- Swing
- TAG
- term
- The
- There.
- to
- toward
- Trading
- TradingView
- Trend
- Upside
- us
- US Dollar
- was
- with
- Your
- zephyrnet