{"id":24922,"date":"2023-06-02T03:53:14","date_gmt":"2023-06-02T07:53:14","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=24922"},"modified":"2023-06-02T03:53:14","modified_gmt":"2023-06-02T07:53:14","slug":"ethereum-price-smashes-resistance-1900-could-be-next","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/02\/ethereum-price-smashes-resistance-1900-could-be-next\/","title":{"rendered":"Ethereum Price Smashes Resistance, $1,900 Could Be Next"},"content":{"rendered":"

Ethereum price started a decent increase above the $1,870 resistance against the US Dollar. ETH could attempt an upside break above the key $1,920 resistance.<\/em><\/p>\n

Ethereum is slowly attempting a recovery wave from the $1,840 support zone.
\nThe price is trading above $1,870 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance near $1,870 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a strong increase if it clears the $1,880 and $1,900 resistance levels.<\/p>\n

Ethereum Price Holds Support<\/h2>\n

Ethereum\u2019s price managed to stay above the $1,840 support<\/a>. ETH formed a base and recently started a recovery wave from the $1,838 low, similar to Bitcoin<\/a>.<\/p>\n

There was a break above the $1,870 resistance level. The price climbed above the 23.6% Fib retracement level of the downward move from the $1,916 swing high to the $1,838 low. Besides, there was a break above a key bearish trend line with resistance near $1,870 on the hourly chart of ETH\/USD.<\/p>\n

Ether is now trading above $1,870 and the 100-hourly Simple Moving Average. There are also chances of a short-term inverse head and shoulders pattern on the same chart. Immediate resistance is near the $1,880 zone. The next major resistance is near the $1,885 level or the 61.8% Fib retracement level of the downward move from the $1,916 swing high to the $1,838 low.<\/p>\n\n

Source: ETHUSD on TradingView.com<\/a><\/p>\n

A proper move above the $1,880 and $1,885 resistance levels might send Ether toward $1,920. The next resistance sits near $1,940, above which Ethereum could rise toward $2,000. Any more gains above the $2,000 resistance zone might send the price toward the $2,120 resistance.<\/p>\n

Fresh Decline in ETH?<\/h2>\n

If Ethereum fails to clear the $1,880 resistance, it could start another decline. Initial support on the downside is near the $1,870 level and the 100-hourly Simple Moving Average.<\/p>\n

The next major support is near the $1,855 zone. If there is a break below the $1,855 support, the price could decline toward the $1,840 support. Any more losses may perhaps send the price toward the $1,800 level or even $1,740 in the coming sessions.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is above the 50 level.<\/p>\n

Major Support Level \u2013 $1,840<\/p>\n

Major Resistance Level \u2013 $1,880<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price started a decent increase above the $1,870 resistance against the US Dollar. ETH could attempt an upside break above the key $1,920 resistance.<\/em><\/p>\n

Ethereum is slowly attempting a recovery wave from the $1,840 support zone.
\nThe price is trading above $1,870 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance near $1,870 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a strong increase if it clears the $1,880 and $1,900 resistance levels.<\/p>\n

Ethereum Price Holds Support<\/h2>\n

Ethereum\u2019s price managed to stay above the $1,840 support<\/a>. ETH formed a base and recently started a recovery wave from the $1,838 low, similar to Bitcoin<\/a>.<\/p>\n

There was a break above the $1,870 resistance level. The price climbed above the 23.6% Fib retracement level of the downward move from the $1,916 swing high to the $1,838 low. Besides, there was a break above a key bearish trend line with resistance near $1,870 on the hourly chart of ETH\/USD.<\/p>\n

Ether is now trading above $1,870 and the 100-hourly Simple Moving Average. There are also chances of a short-term inverse head and shoulders pattern on the same chart. Immediate resistance is near the $1,880 zone. The next major resistance is near the $1,885 level or the 61.8% Fib retracement level of the downward move from the $1,916 swing high to the $1,838 low.<\/p>\n

Source: ETHUSD on TradingView.com<\/a><\/p>\n

A proper move above the $1,880 and $1,885 resistance levels might send Ether toward $1,920. The next resistance sits near $1,940, above which Ethereum could rise toward $2,000. Any more gains above the $2,000 resistance zone might send the price toward the $2,120 resistance.<\/p>\n

Fresh Decline in ETH?<\/h2>\n

If Ethereum fails to clear the $1,880 resistance, it could start another decline. Initial support on the downside is near the $1,870 level and the 100-hourly Simple Moving Average.<\/p>\n

The next major support is near the $1,855 zone. If there is a break below the $1,855 support, the price could decline toward the $1,840 support. Any more losses may perhaps send the price toward the $1,800 level or even $1,740 in the coming sessions.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is above the 50 level.<\/p>\n

Major Support Level \u2013 $1,840<\/p>\n

Major Resistance Level \u2013 $1,880<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-24922","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=24922"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24922\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24922"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}