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.


Technical indicators

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.

See Also
Is It Possible To End The Ethereum? Analyst Announces

Major Resistance Level: $ 1,800.


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