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  • Writer's pictureSarah Dixon

Ethereum price stuck in a range with a growing risk of downside correction.


Ethereum price stuck in a range with a growing risk of downside correction.
Ethereum price stuck in a range with a growing risk of downside correction.

Ethereum price is struggling to clear the $1,920 resistance against the US Dollar. ETH could correct lower if it breaks the $1,865 support zone.

  • Ethereum is currently correcting lower from the $1,920 resistance.

  • The price is trading above $1,865 and the 100-hourly Simple Moving Average.

  • There is a key bearish trend line forming with resistance near $1,890 on the hourly chart of ETH/USD (data feed via Kraken).

  • The pair could start a short-term drop if there is a break below the $1,865 support.




Ethereum price stuck in a range with a growing risk of downside correction. Ethereum Price Struggles Below $1,920

Ethereum's price has continued to rise above the $1,850 resistance level and even surpassed $1,920 before encountering bearish pressure. The price is now undergoing a correction, similar to Bitcoin, after reaching a high of around $1,929. Despite the drop below the $1,900 and $1,880 levels, the $1,865 support zone is still being defended by the bulls. The price has reached a low of $1,866 and is currently attempting to rebound. It is currently trading just above $1,865 and the 100-hourly Simple Moving Average. The immediate resistance level is around $1,890, with a key bearish trend line forming with resistance near $1,890 on the hourly chart of ETH/USD. The next significant resistance level is around $1,900 or the 50% Fib retracement level of the recent decline from the $1,929 high to the $1,866 low. The primary resistance level is around $1,920 and $1,930. If the bulls can push Ethereum above the $1,930 zone, the price could even exceed $1,965. Ethereum price stuck in a range with a growing risk of downside correction.


Source: ETHUSD on TradingView.com
Source: ETHUSD on TradingView.com

The next resistance sits near $2,000, above which the price could rise toward the $2,050 level. Any more gains above the $2,050 resistance zone might send the price toward the $2,120 resistance.


Downside Break in ETH?

If Ethereum fails to clear the $1,900 resistance, it could continue to move down. Initial support on the downside is near the $1,865 level.


The next major support is near the $1,840 level. If there is a break below the $1,840 support, the price could test $1,790. Any more losses may perhaps send the price toward the $1,750 zone or even $1,720.


Technical Indicators

Hourly MACDThe MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now below the 50 level.

Major Support Level – $1,865

Major Resistance Level – $1,900


Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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