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Ethereum Price Consolidate and Eyes Recovery – Is he an incoming bounce?

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Ethereum Price began a recovery wave over the $ 1,820 area. ETH is now consolidating and facing obstacles near the resistance at $ 1,950.

  • Ethereum started a recovery wave above $ 1,820.
  • The price is negotiated below $ 1,920 and the mobile average at 100 hours.
  • There is a short -term downward trend line with resistance at $ 1,900 on the ETH / USD time table (data flow via Kraken).
  • The pair must erase resistance levels of $ 1,900 and $ 1,950 to start a decent increase.

Ethereum Price faces resistance

Ethereum Price formed a base higher at the level of $ 1,760 and started a recovery wave, as Bitcoin. ETH was able to eliminate the resistance levels of $ 1,820 and $ 1,850.

The Bulls pushed the price above the level of $ 1,920. There has been a movement above the FIB trace level of 23.6% of the wave down of the swing of $ 2,150 at $ 1,752. However, bears seem to be active near the resistance area of ​​$ 1,950.

Ethereum Price is now negotiated below $ 1,920 and the Simple mobile average at 100 hours. Uplining, the price seems to be confronted with obstacles near the level of $ 1,900.

There is also a short -term downward trend line with resistance to $ 1,900 on the ETH / USD time table. The next key resistance is close to the level of $ 1,950 or the FIB retracement level at 50% of the downward wave, from the $ 2,150 swing up to $ 1,752.

Ethereum Prize
Source: Ethusd on tradingView.com

The first major resistance is close to the level of $ 1,990. A clear decision above the resistance at $ 1,990 could send the price to the resistance of $ 2,050. An upward rupture above the resistance of $ 2,050 could require more gains in future sessions. In the case indicated, the ether could increase to the resistance zone of $ 2,120, or even $ 2,250 in the short term.

Another drop of eth?

If Ethereum fails to erase the resistance by $ 1,950, this could start another drop. The initial decline support is close to the level of $ 1,845. The first major support is near the $ 1,800 area.

A clear decision below $ 1,800 support could push the price to the $ 1,750 support. Other losses could send the price to the level of support of $ 1,720 in the short term. The next key support is at $ 1,650.

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 – $ 1,800

Major resistance level – $ 1,920

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