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Ethereum Price began a recovery wave over the $ 1,880 area. ETH is now consolidating and facing obstacles near the resistance of $ 2,020.
- Ethereum started a recovery wave above $ 1,920.
- The price is negotiated below $ 1,950 and the mobile average at 100 hours.
- There is a short -term channel forming with a support at $ 1,980 on the ETH / USD hourly graph (data flow via Kraken).
- The pair must erase the resistance levels of $ 2,020 and $ 2,040 to start a decent increase.
Ethereum Price faces resistance
Ethereum Price formed a base higher at the level of $ 1,820 and started a recovery wave, as Bitcoin. ETH was able to eliminate the resistance levels of $ 1,880 and $ 1,920.
The Bulls pushed the price above the level of $ 1,950. There was a movement above the FIB retracement level at 50% of the wave down of the swing of $ 2,068 at the level of $ 1,936. However, the Bears seem to be active near the resistance zone of $ 2,020.
Ethereum Price is now negotiated below $ 1,950 and the Simple mobile average at 100 hours. There is also a short -term amount channel forming with support at $ 1,980 on the ETH / USD hourly table.
Uplining, the price seems to be confronted with obstacles near the level of $ 2,020. The next key resistance is close to the level of $ 2,040 or the FIB retracement level of 76.4% of the wave down of the swing from $ 2,068 to $ 1,936 low.
The first major resistance is close to the level of $ 2,040. A clear decision above the resistance of $ 2,040 could send the price to the resistance of $ 2,120. An upward break above the resistance of $ 2,120 could require more gains in future sessions. In the case indicated, the ether could increase to the resistance zone of $ 2,150, or even $ 2,250 in the short term.
Another drop of eth?
If Ethereum fails to erase the resistance by $ 2,040, this could start another drop. The initial support for the decline is close to the level of $ 1,980. The first major support is near the $ 1,950 area.
A clear decision below the $ 1,950 support could push the price to the support of $ 1,880. Other losses could send the price to the level of support of $ 1,850 in the short term. The next key support is at $ 1,800.
Technical indicators
Schedule macD – The MacD for ETH / USD is gaining momentum in the bullish area.
House – The RSI for ETH / USD is now greater than zone 50.
Major level of support – $ 1,880
Major resistance level – $ 2,040
