Ethereums Resilient Price: $1,800 Holds Strong, Potential for Upside!

Jun 29, 2023 11:27 PM

Crypto Analysis, Ethereum

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.

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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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