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HomeAltcoin NewsEthereum Price Analysis: ETH Could Recover To $1,900

Ethereum Price Analysis: ETH Could Recover To $1,900

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  • 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.

Ethereum Price
Ethereum Price

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.

Aayush Jindal
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

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