Ethereum

Resistance

Rise

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<ul>
<li>Ethereum is slowly rising from the $1,620 support zone.</li>
<li>The price is trading below $1,700 and the 100-hour Simple Moving Average.</li>
<li>There is a significant bearish trend line forming with resistance near $1,720 on the ETH/USD hourly chart.</li>
</ul>
<p><strong>Ethereum price is still struggling below the $1,720 level. If ETH continues to stay below $1,700 and $1,720, it could continue its downward trend.</strong></p>
<h2 id="strong-ethereum-struggling-to-overcome-obstacles-strong"><strong>Ethereum Struggling to Overcome Obstacles</strong></h2>
<p></p>
<p>Ethereum&#8217;s price remained in the bearish territory below the $1,720 resistance. Similar to Bitcoin, ETH dropped below the $1,660 level.</p>
<p>A decline occurred below the $1,630 support. The price tested the $1,620 region. A low was formed around $1,620, and the price is currently attempting a recovery. It surpassed the $1,640 and $1,650 levels. Bulls pushed the price towards the 50% Fibonacci retracement level of the downward move from the $1,748 high to $1,620 low.</p>
<p>Ethereum is still trading below $1,700 and the 100-hour Simple Moving Average. Additionally, there is a significant bearish trend line near $1,720 on the ETH/USD hourly chart.</p>
<p>Immediate resistance is near the $1,700 level or the 100-hour Simple Moving Average. This level is close to the 61.8% Fibonacci retracement level of the downward move from the $1,748 high to $1,620 low. The next significant resistance is near the $1,720 level and the trend line.</p>
<p><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-133615 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/Ethereum-Price-Could-Rise-to-1850-Current-Price-Analysis.png" alt="eth-usd-1" width="1810" height="803" /></p>
<p>ETH/USD 1 Hour Price Chart</p>
<p>Properly surpassing the $1,700 and $1,720 resistance levels could initiate a stable recovery movement. The next resistance level is around $1,775, and Ethereum could rise to the $1,820 level. Further gains above the $1,820 resistance zone could send the price towards the $1,850 resistance.</p>
<h2 id="strong-is-a-new-drop-possible-for-eth-strong"><strong>Is a New Drop Possible for ETH?</strong></h2>
<p>If Ethereum fails to surpass the $1,700 resistance, it could start another decline. The initial downside support is near the $1,640 level.</p>
<p>The next significant support is near the $1,620 level. If the $1,620 support is broken and there is a close below it, the price could drop towards the $1,550 support. Further losses could send the price towards the $1,500 region.</p>
<p><strong>Technical Indicators</strong></p>
<ul>
<li>Hourly MACD – MACD for ETH/USD is losing momentum in the bearish territory.</li>
<li>Hourly RSI – RSI for ETH/USD is currently above the 50 level.</li>
<li>Significant Support Level – $1,620</li>
<li>Significant Resistance Level – $1,700</li>
</ul>

<p>The post <a rel="nofollow" href="https://en.coinotag.com/ethereum-price-could-rise-to-1850-current-price-analysis/">Ethereum Price Could Rise to $1850: Current Price Analysis!</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG</a>.</p>

Ethereum Price Could Rise to $1850: Current Price Analysis!

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