Ethereum price is facing a strong resistance near the $1,825 and $1,830 levels against the US Dollar. According to market analyst Aayush Jindal, who has made successful predictions, Ethereum price may remain stable above the 100 hourly SMA or $1,680 in the near term.
- Ethereum price seems to be struggling to clear the $1,825 and $1,830 resistance levels.
- Price is currently trading well below $1,800, but above the 100 hourly easy moving average. There is a major bullish trend line forming with support near $1,755 on the hourly chart of ETH/USD
- (information feed via Kraken).
- According to the analyst, the pair is expected to stay in a range above the $1,700 support zone or $1,650 in the near term.
Analyst: Ethereum price may hold steady above $1,680
Ethereum price made another attempt to clear the $1,825 resistance level, but failed. ETH formed a high near the $1,818 level and recently started a fresh decline. On the contrary, Bitcoin price managed to clear the $48,000 level and even spiked to an all-time high near $48,680.
Ethereum price is currently trading well below the $1,800 level, but above the 100 hourly easy moving average. ETH rallied below the 23.6% Fib retracement level of the last wave. An immediate anchor is near the $1,750 level, according to the analyst. There is also a major bullish trend line forming with support near $1,755 on the hourly chart of ETH/USD.
Here are the critical levels that Ethereum can test soon
On the upside, according to the analyst, the price is facing many pitfalls starting at $1,800. The next major resistance is near the $1,825 level. A close above the $1,825 level and a trailing move above the $1,830 level could start a strong increase in the coming sessions. In the stated case, the price may rise to an estimated $1,880 level, according to the analyst.
Ethereum price could continue to move lower real if it fails to clear the $1,800 and $1,825 resistance levels. On the downside, the first major reinforcement is near the $1,750 level and the trendline. The mainstay is near the $1,735 zone and the 100 hourly easy moving average. A close below the 100 hourly SMA could push the price towards the $1,680 support or even $1,650.
Current view of Ethereum price with technical indicators
Hourly MACD: The MACD for ETH/USD is slowly gaining momentum in the bearish zone.
Hourly RSI: The RSI for ETH/USD is quickly below the 50 level.
Baseline: $1,735.
Main Resistance Level: $1,800.