Ethereum Holds Strong at $1,800: Experts Predict Further Gains
Key Points:
- Ethereum is attempting a fresh increase after a downside correction below $1,865 support and low at $1,817.
- Ether is now testing the 50% Fib retracement level of the downward move from the $1,912 swing high to the $1,817 low and is trading near $1,865 and the 100-hourly Simple Moving Average.
- A close above the $1,920 zone could start a fresh rally with next resistance near $2,000 and possible rise toward the $2,050 level.
Ethereum has been experiencing a series of price fluctuations lately. After the digital currency reached a high of $1,912, it started a downside correction below the $1,865 support.
Although the price even spiked below the $1,820 level, the downsides were limited, unlike Bitcoin, which has been experiencing a slump. A low was formed near $1,817 and the price is now attempting a fresh increase.
There has been a break above the $1,840 resistance zone. Furthermore, a connecting bearish trend line with resistance near $1,838 on the hourly chart of ETH/USD was broken. Ethereum is now testing the 50% Fib retracement level of the downward move from the $1,912 swing high to the $1,817 low. Additionally, it is currently trading near $1,865 and the 100-hourly Simple Moving Average.
The immediate resistance is near the $1,875 level or the 61.8% Fib retracement level of the downward move from the $1,912 swing high to the $1,817 low. The next major resistance is near the $1,900 level. Moreover, the first breakout level is near the $1,920 level. If there is a close above the $1,920 zone, a fresh rally could start. Subsequently, the next resistance sits near $2,000, above which the price could rise toward the $2,050 level. Any more gains could send Ethereum toward the $2,120 resistance.
However, if Ethereum fails to clear the $1,875 resistance or $1,880, it could start another decline. In the event of a decline, the initial support on the downside is near the $1,860 level and the 100-hourly Simple Moving Average. The next major support is near the $1,840 level, while the first major support is near $1,820. If there is a move below $1,820, the price could drop toward $1,790. Any more losses may perhaps send the price toward the $1,740 support.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
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Ethereum Holds Strong at $1,800: Experts Predict Further Gains
Key Points:
- Ethereum is attempting a fresh increase after a downside correction below $1,865 support and low at $1,817.
- Ether is now testing the 50% Fib retracement level of the downward move from the $1,912 swing high to the $1,817 low and is trading near $1,865 and the 100-hourly Simple Moving Average.
- A close above the $1,920 zone could start a fresh rally with next resistance near $2,000 and possible rise toward the $2,050 level.
Ethereum has been experiencing a series of price fluctuations lately. After the digital currency reached a high of $1,912, it started a downside correction below the $1,865 support.
Although the price even spiked below the $1,820 level, the downsides were limited, unlike Bitcoin, which has been experiencing a slump. A low was formed near $1,817 and the price is now attempting a fresh increase.
There has been a break above the $1,840 resistance zone. Furthermore, a connecting bearish trend line with resistance near $1,838 on the hourly chart of ETH/USD was broken. Ethereum is now testing the 50% Fib retracement level of the downward move from the $1,912 swing high to the $1,817 low. Additionally, it is currently trading near $1,865 and the 100-hourly Simple Moving Average.
The immediate resistance is near the $1,875 level or the 61.8% Fib retracement level of the downward move from the $1,912 swing high to the $1,817 low. The next major resistance is near the $1,900 level. Moreover, the first breakout level is near the $1,920 level. If there is a close above the $1,920 zone, a fresh rally could start. Subsequently, the next resistance sits near $2,000, above which the price could rise toward the $2,050 level. Any more gains could send Ethereum toward the $2,120 resistance.
However, if Ethereum fails to clear the $1,875 resistance or $1,880, it could start another decline. In the event of a decline, the initial support on the downside is near the $1,860 level and the 100-hourly Simple Moving Average. The next major support is near the $1,840 level, while the first major support is near $1,820. If there is a move below $1,820, the price could drop toward $1,790. Any more losses may perhaps send the price toward the $1,740 support.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu New
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