Ethereum Price Aims Fresh Increase
- Ethereum’s price is attempting a fresh increase from the $1,820 zone.
- The price is trading near $1,865 and the 100-hourly Simple Moving Average.
- A bearish trend line with resistance near $1,838 has been broken.
- If the $1,880 resistance is cleared, the price could rise steadily in the near term.
Another Decline in ETH?
- If Ethereum fails to clear the $1,875 or $1,880 resistance, it could start another 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.
- A move below $1,820 could result in a drop toward $1,790.
Technical Indicators
The MACD for ETH/USD is gaining momentum in the bullish zone.
The RSI for ETH/USD is now below the 50 level.
Hot Take: Ethereum’s price is currently attempting a fresh increase and could rise steadily if it clears the $1,880 resistance. However, if it fails to do so, another decline may occur. Traders should keep an eye on the support levels at $1,860, $1,840, and $1,820. Technical indicators suggest bullish momentum for Ethereum.
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