{"id":26981,"date":"2023-07-19T04:52:38","date_gmt":"2023-07-19T08:52:38","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=26981"},"modified":"2023-07-19T04:52:38","modified_gmt":"2023-07-19T08:52:38","slug":"ethereum-price-is-showing-early-signs-of-fresh-increase-but-this-resistance-is-key","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/19\/ethereum-price-is-showing-early-signs-of-fresh-increase-but-this-resistance-is-key\/","title":{"rendered":"Ethereum Price Is Showing Early Signs of Fresh Increase, But This Resistance Is Key"},"content":{"rendered":"

Ethereum price is finding bids above the $1,875 support zone against the US Dollar. ETH could gain bullish momentum above the $1,940 resistance.<\/em><\/p>\n

Ethereum is holding the key support near $1,875.
\nThe price is trading below $1,920 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance near $1,900 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain pace if it clears the $1,920 and $1,940 resistance levels.<\/p>\n

Ethereum Price Could Start Fresh Increase<\/h2>\n

Ethereum\u2019s price declined again below the $1,900 support<\/a>. However, ETH bulls were active near the $1,875 level. It seems like a double bottom pattern is forming near the $1,875 level.<\/p>\n

A low is formed near $1,875 and the price is now attempting a fresh increase. It broke the $1,900 resistance level. There was also a break above a key bearish trend line with resistance near $1,900 on the hourly chart of ETH\/USD. The pair cleared the 50% Fib retracement level recent drop from the $1,944 swing high to the $1,874 low.<\/p>\n

Ether is now trading below $1,920 and the 100-hourly Simple Moving Average<\/a>. On the upside, immediate resistance is near the $1,920 level. It is close to the 61.8% Fib retracement level recent drop from the $1,944 swing high to the $1,874 low.<\/p>\n\n

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

The first major resistance is near the $1,940 zone, above which the price could rise toward the $1,985 resistance zone. The next major resistance is near the $2,000 level. Any more gains could send Ether toward the $2,050 resistance or even $2,080.<\/p>\n

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

If Ethereum fails to clear the $1,920 resistance, it could start a fresh decline. Initial support on the downside is near the $1,900 level.<\/p>\n

The first major support is near the $1,875 level, below which the price could extend its decline. The next major support is near the $1,825 support level. Any more losses could open the doors for a move toward the $1,780 support level in the near term.<\/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 now above the 50 level.<\/p>\n

Major Support Level \u2013 $1,875<\/p>\n

Major Resistance Level \u2013 $1,920<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is finding bids above the $1,875 support zone against the US Dollar. ETH could gain bullish momentum above the $1,940 resistance.<\/em><\/p>\n

Ethereum is holding the key support near $1,875.
\nThe price is trading below $1,920 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance near $1,900 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain pace if it clears the $1,920 and $1,940 resistance levels.<\/p>\n

Ethereum Price Could Start Fresh Increase<\/h2>\n

Ethereum\u2019s price declined again below the $1,900 support<\/a>. However, ETH bulls were active near the $1,875 level. It seems like a double bottom pattern is forming near the $1,875 level.<\/p>\n

A low is formed near $1,875 and the price is now attempting a fresh increase. It broke the $1,900 resistance level. There was also a break above a key bearish trend line with resistance near $1,900 on the hourly chart of ETH\/USD. The pair cleared the 50% Fib retracement level recent drop from the $1,944 swing high to the $1,874 low.<\/p>\n

Ether is now trading below $1,920 and the 100-hourly Simple Moving Average<\/a>. On the upside, immediate resistance is near the $1,920 level. It is close to the 61.8% Fib retracement level recent drop from the $1,944 swing high to the $1,874 low.<\/p>\n

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

The first major resistance is near the $1,940 zone, above which the price could rise toward the $1,985 resistance zone. The next major resistance is near the $2,000 level. Any more gains could send Ether toward the $2,050 resistance or even $2,080.<\/p>\n

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

If Ethereum fails to clear the $1,920 resistance, it could start a fresh decline. Initial support on the downside is near the $1,900 level.<\/p>\n

The first major support is near the $1,875 level, below which the price could extend its decline. The next major support is near the $1,825 support level. Any more losses could open the doors for a move toward the $1,780 support level in the near term.<\/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 now above the 50 level.<\/p>\n

Major Support Level \u2013 $1,875<\/p>\n

Major Resistance Level \u2013 $1,920<\/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-26981","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\/26981","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=26981"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26981\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26981"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}