Ethereum Price Analysis: ETH Eyes Upside Break Above $1,920

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000

• Ethereum price is moving higher above the $1,880 resistance against the US Dollar.
• ETH price is now trading above $1,850 and the 55 simple moving average (4 hours).
• There is a key bullish trend line forming with support near $1,880 on the 4-hours chart (data feed from Coinbase).
• The pair could climb further if it stays above the $1,840 support zone.

Ethereum price is rising above the $1,850 level against the US Dollar. ETH/USD could rise further if it clears the $1,920 resistance zone.

Ethereum Price Analysis

In the past few days, Ethereum saw a decent increase above the $1,800 level against the US Dollar. ETH price was able to gain pace for a move above the $1,850 level and the 55 simple moving average (4 hours).

The bulls even pushed the price above the $1,880 resistance zone. A high was formed near $1,928 before the bears appeared. There was a minor downside correction below the $1,900 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $1,759 swing low to the $1,928 high.

Ether’s price is now trading above $1,850 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $1,880 on the 4-hours chart.

Immediate resistance on the upside is near the $1,920 level. The next major resistance is near the $2,000 zone. A clear move above the $2,000 level could send the price toward $2,140. Any more gains could even send the price toward the $2,220 resistance zone or $2,280 in the near term.

On the downside, initial support is near the $1,880 level. The next major support is now near the $1,850 level or the 50% Fib retracement level of the upward move from the $1,759 swing low to the $1,928 high. A break below the $1,850 support could push the price to $1,800. Any more losses could lead the price towards $1,750.

Ethereum Price

Looking at the chart, Ethereum’s price is trading above the $1,850 zone and the 55 simple moving average (4 hours). Overall, Ether’s price could climb further if it stays above the $1,850 support zone.

Technical indicators

4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is now above the 50 level.

Key Support Levels – $1,880, followed by the $1,850 zone.

Key Resistance$ Levels – $1,920 and $2,000.

Source: Read Full Article