Ethereum price popped above the $1,850 resistance against the US dollar. ETH is showing positive signs and might soon climb toward the $2,000 resistance.
- Ethereum is slowly moving higher above the $1,850 resistance zone.
- The price is trading above $1,820 and the 100-hourly Simple Moving Average.
- There was a break above a key declining channel with resistance near $1,818 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair is signaling bullish signs and a possible move toward the $2,000 resistance.
Ethereum Price Aims Higher
Ethereum formed a base above the $1,780 level and recently started a steady increase, like Bitcoin. ETH gained pace for a move above the $1,820 resistance zone.
There was a break above a key declining channel with resistance near $1,818 on the hourly chart. It sparked bullish moves and pushed the price above the main hurdle at $1,850. The price traded to a new multi-week high at $1,875 and is currently consolidating gains.Are Dips Limited in ETH?
If Ethereum fails to clear the $1,875 resistance, it could start a downside correction. Initial support on the downside is near the $1,850 level.Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 level.
Major Support Level – $1,820 Major Resistance Level – $1,875