Ethereum

Resistance

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<ul>
<li>Ethereum managed to rise above the resistance levels of $1,700 and $1,720.</li>
<li>The price is trading above $1,700 and the 100-hour Simple Moving Average.</li>
<li>On the hourly chart of ETH/USD, an important downtrend line was surpassed around $1,720.</li>
</ul>
<p><strong>Ethereum price is recovering by surpassing $1,700. If ETH breaks the $1,780 resistance zone, it can continue its upward movement.</strong></p>
<h2 id="strong-ethereum-price-trying-to-recover-strong"><strong>Ethereum Price Trying to Recover</strong></h2>
<p><img decoding="async" loading="lazy" class="alignnone size-full wp-image-128508" src="https://en.coinotag.com/wp-content/uploads/2023/05/Ethereum-on-Exchanges-Falls-to-6-Month-Low-Where-Did-It.jpg" alt="Ethereum (ETH) (16)" width="1920" height="1080" /><br />
Ethereum has managed to establish a support base above the $1,620 level. Similar to Bitcoin, ETH has initiated a good recovery wave above the $1,680 and $1,700 resistance levels.</p>
<p>Additionally, an important downtrend line was surpassed around $1,720 on the ETH/USD hourly chart. Bulls pushed the price above the $1,750 resistance and the 100-hour Simple Moving Average. It tested the $1,770 level and formed a peak around $1,768.</p>
<p>Ethereum retraced below the 23.6% Fib retracement level of the upward move from the $1,620 low to $1,768 high.</p>
<p>Currently, it is trading above $1,700 and the 100-hour Simple Moving Average. The immediate resistance level is around $1,740. The next significant resistance level is around $1,770.</p>
<p><a href="https://en.coinotag.com/wp-content/uploads/2023/06/ETH-Price-Trying-to-Recover-Is-the-Next-Target-1900.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-133793 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/ETH-Price-Trying-to-Recover-Is-the-Next-Target-1900.png" alt="eth-usd-1" width="1797" height="802" /></a></p>
<p>ETH/USD 1 Hour Price Chart</p>
<p>The main resistance is located around $1,780. A smooth movement above the $1,770 and $1,780 resistance levels can initiate a stable recovery wave. The next resistance level is around $1,820, above which Ethereum can rise towards the $1,850 level. Any gains above the $1,850 resistance zone can lead the price towards the $1,920 resistance.</p>
<h2 id="strong-could-there-be-a-decline-in-eth-strong"><strong>Could There Be a Decline in ETH?</strong></h2>
<p>If Ethereum fails to surpass the $1,780 resistance, it could start a new decline. The first downside support level is around $1,710.</p>
<p>The next significant support level is located around $1,675, near the 61.8% Fib retracement level of the upward move from the $1,620 low to $1,768 high. If there is a break and close below the $1,675 support, the price could decline towards the $1,620 support. Further losses could lead the price towards the $1,550 region.</p>
<p><strong>Technical Indicators</strong></p>
<ul>
<li>Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.</li>
<li>Hourly RSI – The RSI for ETH/USD is currently below the 50 level.</li>
<li>Main Support Level – $1,675</li>
<li>Main Resistance Level – $1,780</li>
</ul>

<p>The post <a rel="nofollow" href="https://en.coinotag.com/eth-price-trying-to-recover-is-the-next-target-1900/">ETH Price Trying to Recover: Is the Next Target $1900?</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG EN</a>.</p>

ETH Price Trying to Recover: Is the Next Target $1900?

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