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  • Writer's pictureDavid Manion

Ethereum's price has reached a crucial turning point, with $1,900 being the key level to watch.


Ethereum's price has reached a crucial turning point, with $1,900 being the key level to watch.
Ethereum's price has reached a crucial turning point, with $1,900 being the key level to watch.

Ethereum price is attempting a fresh increase from $1,825 against the US Dollar. ETH could rally if there is a clear move above the $1,900 resistance.

  • Ethereum is currently attempting a recovery wave above the $1,855 zone.

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

  • There is a major bearish trend line forming with resistance near $1,900 on the hourly chart of ETH/USD (data feed via Kraken).

  • The pair could start a decent increase if there is a close above $1,900.

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Ethereum's price has reached a crucial turning point, with $1,900 being the key level to watch. Ethereum Price Revisits Resistance

Ethereum's price has maintained stability above the support level of $1,825. It has shown a slow recovery wave and has been able to climb a few points higher than $1,850, similar to Bitcoin. The bulls have pushed the price above the 100-hourly Simple Moving Average, breaking the 50% Fib retracement level of the key decline from the $1,955 swing high to the $1,825 low. However, the bears have been active near the $1,900 resistance zone, where there is also a major bearish trend line forming with resistance near $1,900 on the hourly chart of ETH/USD. Ether is currently trading above $1,865 and the 100-hourly Simple Moving Average. The immediate resistance is near the $1,890 level, with the first major resistance near the $1,900 zone and the trend line. The trend line is close to the 61.8% Fib retracement level of the key decline from the $1,955 swing high to the $1,825 low. Ethereum's price has reached a crucial turning point, with $1,900 being the key level to watch.

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

If the $1,900 resistance is surpassed, it could lead to a substantial increase towards $1,975. The following major resistance is located around the $2,000 level, and further gains could potentially drive Ether towards the $2,050 resistance or even $2,120.


Another Rejection in ETH?

In the event that Ethereum is unable to surpass the $1,900 resistance, it may experience a subsequent decrease. The initial support on the downside is located near the $1,865 level or the 100-hourly Simple Moving Average.


The first significant support is situated near the $1,825 level, and if it fails to hold, there is a possibility of a more substantial decline. The next major support is located near the $1,740 level. Further losses may lead Ether towards the $1,720 support level in the short term.


Technical Indicators

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

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

Major Support Level – $1,825

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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