Ethereum price climbed above the $1,840 resistance against the US Dollar. ETH is showing positive signs and might aim a move toward the $1,920 resistance.
- Ethereum is currently gaining pace above the $1,840 resistance zone.
- The price is trading above $1,820 and the 100-hourly Simple Moving Average.
- There is a key bullish trend line forming with support near $1,835 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could rise further if it stays above the $1,835 and $1,820 support levels.
Ethereum Price Gains Bullish Momentum
Ethereum’s price formed a base above the $1,800 support level. ETH started a decent increase above the $1,820 resistance level and averted more losses, similar to Bitcoin.
There was a clear move above the $1,830 and $1,840 resistance levels. The price even spiked above $1,870. A high is formed near $1,873 and is currently consolidating gains above the 23.6% Fib retracement level of the recent wave from the $1,793 swing low to the $1,873 high.Ether is now trading above $1,820 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $1,835 on the hourly chart of ETH/USD.
Immediate resistance is near the $1,880 zone and the recent higher. The first major resistance is near the $1,920 level. A close above the $1,920 resistance could spark more bullish moves. The next resistance sits near $1,940, above which Ethereum could rise toward $2,000.Are Dips Supported in ETH?
If Ethereum fails to clear the $1,880 resistance, it could start a downside correction. Initial support on the downside is near the $1,850 level.Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is above the 50 level.
Major Support Level – $1,830 Major Resistance Level – $1,880