Ethereum Price shows the force – Bulls active and looking upside down

by Barry Solano
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Ethereum Price began a downward correction compared to $ 1,850. ETH is now consolidated near the $ 1,800 area and could target a decision over $ 1,820.

  • Ethereum began a downward correction and negotiated below $ 1,800.
  • The price is traded over $ 1,780 and the mobile average at 100 hours.
  • There is a short -term contracting triangle forming with resistance at $ 1,810 on the ETH / USD hourly graph (data flow via Kraken).
  • The pair could start a new increase if it erases the resistance zone of $ 1,850.

Ethereum Price Eyes more bulging

Ethereum The price remained stable above the level of $ 1,745 and started a new increase, as Bitcoin. ETH rose above the resistance level of $ 1,800 before the appearance of bears.

A summit was formed at $ 1,842 and the price corrected some gains. There was a movement below the level of $ 1,820. The price dropped below the FIB retracement level at 50% of the swing increase of $ 1,746 up to $ 1,842.

However, the Bulls remained active near the level of $ 1,780 and the FIB trace level of 61.8% of the swing increase of $ 1,746 at a level of $ 1,842.

Ethereum Price is now negotiated over $ 1,780 and the mobile average at 100 hours. Uplining, the price seems to be confronted with obstacles near the level of $ 1,810. The next key resistance is close to the level of $ 1,820. There is also a short -term contracting triangle forming with resistance at $ 1,810 on the ETH / USD hourly table.

Ethereum Prize
Source: Ethusd on tradingView.com

The first major resistance is close to the level of $ 1,850. A clear decision above the resistance of $ 1,850 could send the price to the resistance of $ 1,920. An upward break above the resistance of $ 1,920 could require more gains in future sessions. In the case indicated, the ether could increase to the resistance zone by $ 1,950 or even $ 2,000 in the short term.

Another drop in eth?

If Ethereum fails to erase the resistance of $ 1,850, this could start a new drop. The initial support for the decline is close to the level of $ 1780. The first major support is near the $ 1,750 area.

A clear decision below $ 1,750 support could push the price to the $ 1,620 support. Other losses could send the price to the level of support of $ 1,600 in the short term. The next key support is $ 1,550.

Technical indicators

Schedule macDThe MacD for ETH / USD is gaining momentum in the bullish area.

HouseThe RSI for ETH / USD is now greater than zone 50.

Major level of support – $ 1,780

Major resistance level – $ 1,850

Source

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