Ethereum could not stay above the $ 1,900 level. ETH corrected lower against the dollar.

 

 

Ethereum price corrects gains

ETH price corrects the gains. It is able to test $ 1,750 before a new hike.

Ethereum corrected its rise towards the $ 1,975 level and is now trading below $ 1,900.

The price is currently testing the $ 1,850 support, but is below the 100 hourly simple moving average.

There is a major bullish trend line formed with support near $ 1,850 on the hourly chart of ETH / USD.

The pair could fall further, but the bulls are likely to remain active around $ 1,750.

If Ethereum cannot push its bullish above the $ 1,950 level, it may continue to move down. The first major support is located near the $ 1,850 level.

On the same chart, there is a big bullish trend line formed with support close to $ 1,850. A clear break below the trendline support could bring the price towards the $ 1,750 support zone in the near term.

 

Technical indicators

Hourly MACD: The MACD for ETH / USD is slowly gaining momentum in the bearish zone.

Hourly RSI: The RSI for ETH / USD is currently well below the 50 level.

Major Support Level: $ 1,850.

Major Resistance Level: $ 1,950.

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