Ethereum is struggling to climb above $ 1,800. ETH will likely rise above $ 1,800 and $ 1,850.
Ethereum is on the rise
Ethereum reached a peak near the $ 1,835 level. However, it had a retreat afterwards.
The price is currently trading well below $ 1,800 and the 100 hourly simple moving average.
Looking at the hourly chart of ETH / USD, there is a significant bearish trend line with resistance near $ 1,800.
As long as the pair trades above the $ 1,700 support zone, the price is likely to retreat.
Ethereum climbed above the $ 1,840 level. However, it could not overcome the $ 1,840 resistance. Conversely, Bitcoin managed to break the $ 50,000 barrier and hit an all-time high.
The price is currently attracting strong buying interest near the $ 1,730 level.
If Ethereum cannot clear the trendline resistance or $ 1,800, it can continue to move down. On the downside, the first major support level is located in the $ 1,730 zone.
The main support is formed near the $ 1,700 level. A downside break below the $ 1,730 and $ 1,700 support levels could likely put a lot of pressure on the bulls. As long as Ethereum is above $ 1,700, the price is likely to rise above $ 1,800.
Hourly MACD: The MACD for ETH / USD is slowly losing momentum in the bullish zone.
Hourly RSI: The RSI for ETH / USD is just below the 50 level.
Major Support Level: $ 1,730.
Major Resistance Level: $ 1,800.