Ethereum Price Faces Rejection Despite Bitcoin’s Surge, Dips Still Supported

0 5

Ethereum price failed to clear the $1,925 resistance zone against the US Dollar. ETH is struggling to test $2,000 while Bitcoin gained pace and rallied above $30,000.

  • Ethereum attempted a fresh increase but struggled above the $1,925 zone.
  • The price is trading above $1,850 and the 100-hourly Simple Moving Average.
  • There was a break above a bullish pattern with resistance near $1,860 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could correct lower but the bulls might remain active near $1,880.

Ethereum Price Tops Again

Ethereum’s price started a fresh increase above the $1,850 resistance zone, similar to Bitcoin. ETH price cleared a few hurdles near $1,880 to move into a positive zone.

Besides, there was a break above a bullish pattern with resistance near $1,860 on the hourly chart of ETH/USD. The pair even spiked above the $1,925 resistance zone but the bears were active below $1,950. A high is formed near $1,938 and the price is now showing signs of rejection.

Ether price is still trading above $1,850 and the 100-hourly Simple Moving Average. It is slowly approaching the 23.6% Fib retracement level of the recent rally from the $1,848 swing low to the $1,938 high.

Ethereum Price

Source: ETHUSD on TradingView.com

On the upside, the price is facing resistance near the $1,925 level. The next major resistance is near the $1,940 zone. A clear move above the $1,940 resistance zone might send the price toward the $2,000 resistance. The next major resistance might be $2,120. Any more gains could set the pace for a test of the $2,200 resistance.

Fresh Drop in ETH?

If Ethereum fails to clear the $1,925 resistance, it could start a downside correction. Initial support on the downside is near the $1,900 level.

The next major support is near the $1,880 zone or the 61.8% Fib retracement level of the recent rally from the $1,848 swing low to the $1,938 high, below which ether price might decline toward the $1,850 level. The next key support is near the $1,840 zone. If there is a break below $1,840, the price might extend its decline toward $1,780.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is now losing momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 60 level.

Major Support Level – $1,880

Major Resistance Level – $1,925

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 67,330.04
ethereum
Ethereum (ETH) $ 3,529.19
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 595.64
solana
Solana (SOL) $ 174.04
staked-ether
Lido Staked Ether (STETH) $ 3,527.13
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.596584
dogecoin
Dogecoin (DOGE) $ 0.134414
the-open-network
Toncoin (TON) $ 7.28
cardano
Cardano (ADA) $ 0.438391
tron
TRON (TRX) $ 0.134938
avalanche-2
Avalanche (AVAX) $ 29.20
shiba-inu
Shiba Inu (SHIB) $ 0.000018
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 67,250.02
polkadot
Polkadot (DOT) $ 6.36
chainlink
Chainlink (LINK) $ 14.33
bitcoin-cash
Bitcoin Cash (BCH) $ 396.03
near
NEAR Protocol (NEAR) $ 6.31
uniswap
Uniswap (UNI) $ 8.04
litecoin
Litecoin (LTC) $ 73.30
dai
Dai (DAI) $ 1.00
leo-token
LEO Token (LEO) $ 5.69
wrapped-eeth
Wrapped eETH (WEETH) $ 3,680.84
pepe
Pepe (PEPE) $ 0.000012
matic-network
Polygon (MATIC) $ 0.543164
internet-computer
Internet Computer (ICP) $ 10.34
kaspa
Kaspa (KAS) $ 0.181515
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.46
ethereum-classic
Ethereum Classic (ETC) $ 24.03
aptos
Aptos (APT) $ 7.38
ethena-usde
Ethena USDe (USDE) $ 1.00
stellar
Stellar (XLM) $ 0.105479
monero
Monero (XMR) $ 163.87
mantle
Mantle (MNT) $ 0.899655
blockstack
Stacks (STX) $ 1.93
render-token
Render (RNDR) $ 7.07
filecoin
Filecoin (FIL) $ 4.72
hedera-hashgraph
Hedera (HBAR) $ 0.075174
injective-protocol
Injective (INJ) $ 27.68
dogwifcoin
dogwifhat (WIF) $ 2.64
maker
Maker (MKR) $ 2,826.09
arbitrum
Arbitrum (ARB) $ 0.784689
okb
OKB (OKB) $ 43.09
cosmos
Cosmos Hub (ATOM) $ 6.54
immutable-x
Immutable (IMX) $ 1.65
crypto-com-chain
Cronos (CRO) $ 0.094208
vechain
VeChain (VET) $ 0.030864
bittensor
Bittensor (TAO) $ 338.92
arweave
Arweave (AR) $ 33.78
optimism
Optimism (OP) $ 1.93
sui
Sui (SUI) $ 0.852442
bonk
Bonk (BONK) $ 0.000031
the-graph
The Graph (GRT) $ 0.216189
first-digital-usd
First Digital USD (FDUSD) $ 1.00
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 3,575.86
rocket-pool-eth
Rocket Pool ETH (RETH) $ 3,941.74
floki
FLOKI (FLOKI) $ 0.0002
mantle-staked-ether
Mantle Staked Ether (METH) $ 3,671.84
lido-dao
Lido DAO (LDO) $ 1.93
notcoin
Notcoin (NOT) $ 0.016322
thorchain
THORChain (RUNE) $ 4.90
theta-token
Theta Network (THETA) $ 1.64
bitget-token
Bitget Token (BGB) $ 1.14
ondo-finance
Ondo (ONDO) $ 1.09
based-brett
Brett (BRETT) $ 0.149648
aave
Aave (AAVE) $ 99.28
jasmycoin
JasmyCoin (JASMY) $ 0.030322
fantom
Fantom (FTM) $ 0.523651
whitebit
WhiteBIT Coin (WBT) $ 10.15
jupiter-exchange-solana
Jupiter (JUP) $ 1.04
pyth-network
Pyth Network (PYTH) $ 0.368935
algorand
Algorand (ALGO) $ 0.158943
celestia
Celestia (TIA) $ 6.54
coredaoorg
Core (CORE) $ 1.43
sei-network
Sei (SEI) $ 0.399269
ether-fi-staked-eth
ether.fi Staked ETH (EETH) $ 3,508.18
mantra-dao
MANTRA (OM) $ 1.34
quant-network
Quant (QNT) $ 75.88
gatechain-token
Gate (GT) $ 7.84
flow
Flow (FLOW) $ 0.652892
elrond-erd-2
MultiversX (EGLD) $ 36.34
beam-2
Beam (BEAM) $ 0.019224
popcat
Popcat (POPCAT) $ 0.986284
gala
GALA (GALA) $ 0.026022
axie-infinity
Axie Infinity (AXS) $ 6.43
kucoin-shares
KuCoin (KCS) $ 9.92
bitcoin-sv
Bitcoin SV (BSV) $ 47.71
msol
Marinade Staked SOL (MSOL) $ 209.29
eos
EOS (EOS) $ 0.61332
tokenize-xchange
Tokenize Xchange (TKX) $ 11.19
flare-networks
Flare (FLR) $ 0.020178
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 3,578.37
bittorrent
BitTorrent (BTT) $ 0.00000090474241
akash-network
Akash Network (AKT) $ 3.61
dydx-chain
dYdX (DYDX) $ 1.44
ethereum-name-service
Ethereum Name Service (ENS) $ 26.66
ordinals
ORDI (ORDI) $ 41.35
ethena
Ethena (ENA) $ 0.497885
neo
NEO (NEO) $ 12.05