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The Ethereum price initiated a downside correction and tried the $ 1,750 zone. ETH is now rising and trying a move above $ 1,850 resistance.
- Ethereum started a fresh recovery wave above $ 1,800 resistance.
- The price trades above $ 1,800 and the 100-hour simple transfer of average.
- There was a break above a key bearish trend line with a resistance to $ 1,820 in time -oras eth/USD chart (data feed by Kraken).
- The pair can continue to move up if the $ 1,850 level of resistance is broken.
Ethereum price aimed at higher
Ethereum price began a downside correction from the $ 1,880 zone, such as Bitcoin. ETH refused below $ 1,850 and $ 1,800 support levels. Finally, the price found support near the level of $ 1,750.
A low was formed at $ 1,752 and the price started a fresh increase. There is a move above $ 1,800 and $ 1,810 resistance levels. The price rises above the 50% level of fib retracement of the downward switch from $ 1,872 swing high to $ 1,752 low.
Besides, there is a break above a key bearish trend line with a resistance to $ 1,820 at a time -rass ETH/USD chart. Ethereum's price now trades above $ 1,800 and the 100-hour simple average move.
Upside down, the price seems to face barriers near the $ 1,840 level and the 76.4% fib retracement level of the downward move from $ 1,872 swing high to $ 1,752 low. The next major resistance is close to the level of $ 1,850. The first major resistance is close to the level of $ 1,880.
A clear move above $ 1,880 resistance can send the price towards $ 1,920 resistance. An inverted break above $ 1,920 resistance may call for more acquired sessions. In the stated case, Ether can rise to $ 2,000 zone immunity or even $ 2,050 in the near term.
Another refusal to ETH?
If Ethereum fails to clear $ 1,850 resistance, it can start a fresh decline. The initial downside support is close to the level of $ 1,820. The first major support is sitting near the $ 1,810 zone.
A clear move below the $ 1,810 support can push the price towards $ 1,780 support. Any more losses can send the price towards the $ 1,750 support level in the near term. The next major support is sitting at $ 1,665.
Technical indicators
Time MacD – MACD for ETH/USD gets momentum in the bullish zone.
Time RSI – RSI for ETH/USD is above 50 zones.
Basic Support Level – $ 1,810
Basic resistance level – $ 1,850
