Ethereum Price Analysis: Current Trends and Future Resistance

Ethereum’s price has surged beyond $1,750 and is currently consolidating around $1,720. Resistance levels of $1,820 and $1,840 are critical, while initial support is observed at $1,780 and $1,740. The MACD shows decreasing bullish momentum, alongside an RSI above 50, indicating potential price movements. A clear move above $1,880 could push Ethereum towards $1,950 or $2,000.

Ethereum (ETH) initiated a new rally, surpassing the $1,750 resistance level. Currently, ETH is consolidating its gains and may attempt to breach the critical resistance at $1,840. The price trades above $1,720 and is supported by the 100-hourly Simple Moving Average. A bullish trend line is forming, establishing support around $1,780 on the hourly chart for ETH/USD.

The price of Ethereum remained resilient above the $1,650 mark, commencing a fresh increase similar to Bitcoin. It rose above $1,700 and $1,720, with bullish momentum pushing it past $1,750. The price recently peaked at $1,834 but is now entering a consolidation period following a retracement to the 23.6% Fibonacci level of the upward move from the $1,565 low to the $1,834 high.

Ethereum now trades above $1,720, with notable resistance near the $1,820 mark. The next significant barrier is positioned at $1,840, followed closely by $1,880. A decisive advance above $1,880 could propel Ethereum towards the $1,920 resistance level, with further potential gains targeting $1,950 or even $2,000 in the near future.

Conversely, if Ethereum struggles to surmount the $1,820 resistance, it could face a downturn. Initial support is identified around $1,780, with the first major support at approximately $1,740. A movement below $1,740 may lead the price towards $1,700 or the 50% Fibonacci retracement level from the upward move, with possible further declines to around $1,665 or the next key support at $1,620.

Technical indicators suggest a change in momentum, with the Hourly MACD for ETH/USD losing strength within the bullish zone. Meanwhile, the Relative Strength Index (RSI) remains above the neutral 50 level, suggesting that the asset retains some bullish potential, albeit cautiously.

– Major Support Level: $1,740
– Major Resistance Level: $1,820