Ethereum

Momentum

Resistance

Ethereum price is still struggling to clear the $1,920 resistance against the US dollar. ETH is moving lower but downsides might be limited below $1,850. 
<ul> 
 <li>Ethereum is still struggling to clear the $1,920 level.</li> 
 <li>The price is trading above $1,860 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break above a connecting bearish trend line with resistance near $1,880 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could rise once again unless there is a close below the $1,850 support zone.</li> 
</ul> 
<h2 id="ethereum-price-stuck-in-range">Ethereum Price Stuck In Range</h2> 
Ethereum remained stable above the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-hesitates-2k/" target="_blank" rel="noopener ">$1,850 support zone</a>. ETH made another attempt to gain bullish momentum above the $1,880 resistance, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-rejects-36k/" target="_blank" rel="noopener ">Bitcoin</a>. 
There was a break above a connecting bearish trend line with resistance near $1,880 on the hourly chart of ETH/USD. However, the pair again failed to clear the $1,920 resistance zone. A high is formed near $1,907 and the price is moving lower. 
There was a drop below the $1,885 level. The price even tested the 50% Fib retracement level of the recent increase from the $1,851 swing low to the $1,907 high. 
Ethereum is now trading above $1,860 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $1,900 level. The first major resistance sits at $1,920. To start a fresh increase, the bulls need to clear the $1,920 resistance. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-5.png?resize=1024%2C468"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-559652" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-5.png?resize=1024%2C468" alt="Ethereum Price " width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-5.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-5.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-5.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-5.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-5.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-5.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-5.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> 
In the stated case, the price could rally toward the $2,000 resistance. The next key resistance is near $2,050, above which the price could accelerate higher toward the $2,120 level. 
<h2 id="are-dips-limited-in-eth">Are Dips Limited in ETH?</h2> 
If Ethereum fails to clear the $1,900 resistance, it could continue to move down. Initial support on the downside is near the $1,880 level. The next key support is $1,870 or the 100 hourly SMA. 
The 61.8% Fib retracement level of the recent increase from the $1,851 swing low to the $1,907 high is also at $1,870. The main support sits at $1,850. A downside break below the $1,850 support might send Ether further lower. In the stated case, the price could drop toward the $1,780 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 above the 50 level. 
Major Support Level – $1,870 
Major Resistance Level – $1,920

Ethereum Price Bullish Momentum Fades But ETH Bulls Still In Control

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