Ethereum price is trading above the $1,875 support zone against the US Dollar. ETH could start a decent increase if it clears the $1,915 resistance zone.
- Ethereum is consolidating above the $1,875 level.
- The price is trading below $1,920 and the 100-hourly Simple Moving Average.
- There is a major bearish trend line forming with resistance near $1,910 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start a steady increase if it clears the $1,915 and $1,940 resistance levels.
Ethereum Price Holds Support
Ethereum’s price remained stable above the $1,875 support zone. ETH bulls seem to be active above the $1,875 level and protecting more losses, similar to Bitcoin.
The price was able to recover a few points above the $1,890 level. However, the bears are active near the $1,900 pivot level. There is also a major bearish trend line forming with resistance near $1,910 on the hourly chart of ETH/USD.More Losses in ETH?
If Ethereum fails to clear the $1,915 resistance, it could start a fresh decline. Initial support on the downside is near the $1,885 level.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 – $1,875 Major Resistance Level – $1,915