Ethereum

<ul><li>Ethereum is slowly recovering from the $1,840 support area.</li><li>The price is trading above $1,870 and the 100 hourly simple moving average.</li><li>On the hourly ETH/USD chart, there was a break above a key bearish trend line with resistance near $1,870.</li></ul>Ethereum price is rising steadily above the $1,870 resistance. ETH could attempt to surpass the significant $1,920 resistance.<h2 id="header-0">Ethereum Price Approaching $1900</h2>Ethereum’s price managed to stay above the $1,840 support level. ETH formed a base and recently started a recovery wave from the $1,838 low, similar to Bitcoin.The price broke the $1,870 resistance level. It climbed above the 23.6% Fib retracement level of the downward move from the $1,916 high to $1,838 low. Additionally, there was a break above a significant bearish trend line with resistance near $1,870 on the ETH/USD hourly chart.Ethereum price is currently trading above $1,870 and the 100 hourly simple moving average. The same chart also indicates the possibility of a short-term inverse head and shoulders formation. The next resistance is near the 61.8% Fib retracement level of the downward move from the $1,916 high to $1,838 low, around $1,940.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/63e3683ab5734b7ca159f3e1375cec46.png" />ETH/USD 1 Hour Price ChartA proper move above the $1,880 and $1,885 resistance levels could send Ethereum towards $1,920. The next major resistance is near the 61.8% Fib retracement level of the downward move from the $1,916 high to $1,838 low, around $1,940. Further gains above the $2,000 resistance zone could send the price towards the $2,120 resistance.<h2 id="header-1">Could There Be a New Drop in ETH?</h2>If Ethereum fails to surpass the $1,898 resistance, it could start another decline. The first support on the downside is near the $1,870 level and the 100 hourly simple moving average.The next major support is near the $1,855 level. If the $1,855 support is broken, the price could drop towards the $1,840 support. Further losses could send the price towards the $1,800 level or even the $1,740 level in the coming sessions.Technical Indicators<ul><li>Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.</li><li>Hourly RSI – The RSI for ETH/USD is currently above the 50 level.</li><li>Major Support Level – $1,840</li><li>Major Resistance Level – $1,898</li></ul>Source: <a href="https://en.coinotag.com/ethereum-approaches-1900-will-the-rise-continue/" rel="noopener noreferrer nofollow">https://en.coinotag.com/ethereum-approaches-1900-will-the-rise-continue/</a>

Ethereum Approaches $1900: Will the Rise Continue?

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