Ethereum is still consolidating over $ 1,750 and $ 1,710 against the US Dollar. ETH price may soon climb above the $ 1,850 resistance or drop towards the $ 1,550 support.

 

 

Ethereum price

Ethereum holds the $ 1,750 and $ 1,710 support levels.

The price is currently trading below $ 1,800 and the 100 hourly simple moving average.

There is a connecting bearish trend line with resistance near $ 1,795 on the hourly chart of ETH / USD.

The pair seems to be preparing for a strong move with $ 1,710 as the pivot zone.

If Ethereum fails to move above the $ 1,800 and $ 1,850 resistance levels, it could drop quickly. The first downside support is near the $ 1,750 level.

The main support is still near the $ 1,710 and $ 1,700 levels. A clear downside break below the $ 1,710 support could possibly open the doors for a bigger drop. In the situation mentioned, the bears are aiming to test the $ 1,550 support zone during the day. A mid-level support could be near the $ 1,640 level.

 

Technical indicators

Hourly MACD – The MACD for ETH / USD is slowly entering the bullish zone.

Hourly RSI – The RSI for ETH / USD is just below the 50 level.

Major Support Level: $ 1,710.

Major Resistance Level: $ 1,800.

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