Ethereum

Resistance

Ethereum price is slowly moving higher toward the $1,850 resistance against the US dollar. ETH must clear $1,820 and $1,850 to continue higher. 
<ul> 
 <li>Ethereum is still facing a major hurdle near the $1,850 zone.</li> 
 <li>The price is trading above $1,780 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key rising channel forming with support near $1,790 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could gain bullish momentum if it clears the $1,820 resistance.</li> 
</ul> 
<h2 id="ethereum-price-eyes-fresh-increase">Ethereum Price Eyes Fresh Increase</h2> 
Ethereum remained in a range below the $1,850 resistance. There was a minor decline, but ETH remained supported above the $1,750 zone, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-hints-correction-33950/" target="_blank" rel="noopener ">Bitcoin</a>. 
The price is now moving higher above the $1,780 level. There was a break above the 50% Fib retracement level of the upward move from the $1,865 swing high to the $1,741 low. There is also a key rising channel forming with support near $1,790 on the hourly chart of ETH/USD. 
Ethereum is now trading above $1,780 and the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-faces-big-move-2000/" target="_blank" rel="noopener ">100-hourly Simple Moving Average</a>. On the upside, the price is facing resistance near the $1,820 level. It is close to the 61.8% Fib retracement level of the upward move from the $1,865 swing high to the $1,741 low. 
A clear move above the $1,820 resistance could send Ether toward the main hurdle at $1,850. A close above the $1,850 resistance could start a decent increase. In the stated case, the price could rally toward $1,920. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/10/Ethereum-22.png?resize=1024%2C468"><img decoding="async" loading="lazy" class="alignnone size-full wp-image-558332" src="https://www.newsbtc.com/wp-content/uploads/2023/10/Ethereum-22.png?resize=1024%2C468" alt="Ethereum Price" width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/10/Ethereum-22.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/10/Ethereum-22.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/10/Ethereum-22.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/10/Ethereum-22.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/10/Ethereum-22.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/10/Ethereum-22.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/10/Ethereum-22.png?resize=1024%2C468?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/ETHUSD/" target="_blank" rel="noopener nofollow">ETHUSD on TradingView.com</a> 
The next key resistance is near $1,950, above which the price could accelerate higher. In the stated case, the price could rise toward the $2,000 level. The main hurdle sits at $2,040. 
<h2 id="another-drop-in-eth">Another Drop in ETH?</h2> 
If Ethereum fails to clear the $1,820 resistance, it could start another decline. Initial support on the downside is near the $1,790 level, the 100-hourly Simple Moving Average, and the trend line. 
The next key support is $1,750. A downside break below the $1,750 support might trigger more bearish moves. In the stated case, Ether could drop toward the $1,700 level. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. 
Hourly RSI – The RSI for ETH/USD is now below the 50 level. 
Major Support Level – $1,750 
Major Resistance Level – $1,820

Ethereum Price Uptrend To Continue? These Could Be The Factors To Watch

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