Ethereum

Resistance

Ethereum price corrected lower from the $1,875 zone against the US dollar. ETH retested the $1,780 zone and might soon attempt a fresh surge. 
<ul> 
 <li>Ethereum holds the key support at $1,780 and $1,750.</li> 
 <li>The price is trading below $1,820 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break above a steep bearish trend line with resistance near $1,795 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could start a fresh increase toward the $1,850 and $1,875 resistance levels.</li> 
</ul> 
<h2 id="ethereum-price-revisits-uptrend-support">Ethereum Price Revisits Uptrend Support</h2> 
Ethereum attempted a fresh increase above the $1,850 resistance but upsides were limited, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-key-juncture-34k/" target="_blank" rel="noopener ">Bitcoin</a>. ETH traded as high as $1,874 and recently started a downside correction. 
There was a move below the $1,850 and $1,820 levels. The price even spiked below the $1,800 level and the 100-hourly Simple Moving Average. It retested the $1,780 support zone. A low is formed near $1,777 and the price is now attempting another increase. 
There was a break above a steep bearish trend line with resistance near $1,795 on the hourly chart of ETH/USD. Ethereum is now trading near the 23.6% Fib retracement level of the recent drop from the $1,874 swing high to the $1,777 low. 
On the upside, the price is facing resistance near the $1,810 level and the <a href="https://www.newsbtc.com/analysis/eth/ethereum-bulls-keeps-pushing-2000/" target="_blank" rel="noopener ">100-hourly Simple Moving Average</a>. The first major resistance sits at $1,825 or the 50% Fib retracement level of the recent drop from the $1,874 swing high to the $1,777 low. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-2.png?resize=1024%2C468"><img decoding="async" loading="lazy" class="alignnone size-full wp-image-558920" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-2.png?resize=1024%2C468" alt="Ethereum Price" width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-2.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-2.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-2.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-2.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-2.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-2.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-2.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> 
If ETH surpasses the $1,825 resistance, it could again start a steady increase and test $1,875. The next key resistance is near $1,920, above which the price could accelerate higher toward the $2,0000 level. Any more gains might call for a move toward the $2,050 level. 
<h2 id="more-losses-in-eth">More Losses in ETH?</h2> 
If Ethereum fails to clear the $1,825 resistance, it could continue to move down. Initial support on the downside is near the $1,780 level or the recent low. 
The next key support is $1,750. A downside break below the $1,750 support might spark a bearish wave. In the stated case, Ether could drop toward the $1,650 level. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. 
Hourly RSI – The RSI for ETH/USD is now below the 50 level. 
Major Support Level – $1,780 
Major Resistance Level – $1,825

Ethereum Price Breaking This Confluence Resistance Could Spark Fresh Surge

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