Ethereum is facing strong resistance near the $ 1,825 and $ 1,830 levels against the US dollar. The ETH price should remain stable above the 100-hour SMA or USD 1,680 for the short term.
- Ethereum appears to be struggling to break the $ 1,825 and $ 1,830 resistance levels.
- The price is now trading well below $ 1,800 but is above the 100-hour simple moving average.
- A major bullish trendline is forming on the hourly chart of ETH / USD (data feed via Kraken) with support near USD 1,755.
- The pair is likely to stay in an area above the USD 1,700 or USD 1,650 support zone for the short term.
Ethereum price before hurdles
Ethereum made another attempt to hit the $ 1,825 resistance level but failed. ETH made a high near the $ 1,818 level and recently started a new decline.
Conversely, Bitcoin price was able to hit the $ 48,000 level and was even trading to a new all-time high near $ 48,680. Ether price is now trading well below the $ 1,800 level but is above the 100-hour simple moving average.
Source: ETHUSD on TradingView.com
It traded below the 23.6% fib retracement level of the recent wave from the low of $ 1,682 to the high of $ 1,818. Immediate support is near the $ 1,750 level. A major bullish trendline is also forming on the hourly chart of ETH / USD with support near USD 1,755.
On the upside, the price faces many hurdles starting at $ 1,800. The next major resistance is near the $ 1,825 level. A closing price above the $ 1,825 level and a follow-up step above the $ 1,830 level could trigger a sharp spike in upcoming sessions. In the specified case, the price may potentially rise towards the USD 1,880 level.
Dips supported at ETH?
If Ethereum fails to hit the $ 1,800 and $ 1,825 resistance levels, it could go further down. On the downside, the first major support is near the USD 1,750 level and the trend line.
The main support is near the USD 1,735 zone and the 100-hour simple moving average. It is close to the 61.8% Fib retracement level of the recent wave from the low of $ 1,682 to the high of $ 1,818. A closing price below the 100-hour SMA could potentially push the price towards $ 1,680 or even $ 1,650.
Hourly MACD – – The MACD for ETH / USD is slowly gaining momentum in the bearish zone.
Hourly RSI – – The RSI for ETH / USD is just below the 50 level.
Main support tier – $ 1,735
Main Resistance Level – $ 1,800