Ethereum consolidates gains of over $ 1,750 against the US Dollar. As long as the ETH price is above the $ 1,700 support, it will start a strong increase towards $ 2,000.

 

Ethereum failed to clear the $ 1,850 resistance and fell below $ 1,800.

The price currently holds gains of over $ 1,750 and the 100 hourly simple moving average.

There is a major bullish trend line formed with support near $ 1,770 on the hourly chart of ETH / USD.

The pair will start a new increase towards the $ 1,850 and $ 1,900 levels in the near term.

If Ethereum fails to break above the $ 1,815 and $ 1,830 resistance levels, it can correct further lower. The initial key support is near the $ 1,770 trend line.

The main support is currently forming near the $ 1,760 level and the 100 hourly simple moving average. If there is a downside break below the $ 1,760 support, the Ethereum price could drop to the $ 1,700 level.

 

Technical indicators

Hourly MACD – The MACD for ETH / USD is slowly losing momentum in the bearish zone.

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

Major Support Level: $ 1,760.

Major Resistance Level: $ 1,830.

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