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Your email address will not be published.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) $ 70,806.97
ethereum
Ethereum (ETH) $ 3,566.43
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 582.21
solana
Solana (SOL) $ 188.19
xrp
XRP (XRP) $ 0.628306
staked-ether
Lido Staked Ether (STETH) $ 3,556.08
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.220648
cardano
Cardano (ADA) $ 0.651696
avalanche-2
Avalanche (AVAX) $ 54.77
shiba-inu
Shiba Inu (SHIB) $ 0.000032
the-open-network
Toncoin (TON) $ 4.89
polkadot
Polkadot (DOT) $ 9.55
bitcoin-cash
Bitcoin Cash (BCH) $ 578.52
chainlink
Chainlink (LINK) $ 19.20
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 70,796.97
tron
TRON (TRX) $ 0.120415
uniswap
Uniswap (UNI) $ 12.80
matic-network
Polygon (MATIC) $ 1.00
internet-computer
Internet Computer (ICP) $ 17.67
near
NEAR Protocol (NEAR) $ 7.21
litecoin
Litecoin (LTC) $ 93.90
aptos
Aptos (APT) $ 17.01
leo-token
LEO Token (LEO) $ 6.06
blockstack
Stacks (STX) $ 3.46
filecoin
Filecoin (FIL) $ 9.35
dai
Dai (DAI) $ 0.99872
cosmos
Cosmos Hub (ATOM) $ 12.31
ethereum-classic
Ethereum Classic (ETC) $ 32.62
arbitrum
Arbitrum (ARB) $ 1.69
render-token
Render (RNDR) $ 11.24
immutable-x
Immutable (IMX) $ 2.97
crypto-com-chain
Cronos (CRO) $ 0.155789
stellar
Stellar (XLM) $ 0.138026
mantle
Mantle (MNT) $ 1.22
hedera-hashgraph
Hedera (HBAR) $ 0.116276
the-graph
The Graph (GRT) $ 0.412328
dogwifcoin
dogwifhat (WIF) $ 3.85
okb
OKB (OKB) $ 63.15
optimism
Optimism (OP) $ 3.73
bittensor
Bittensor (TAO) $ 540.58
fetch-ai
Fetch.ai (FET) $ 3.33
vechain
VeChain (VET) $ 0.047429
pepe
Pepe (PEPE) $ 0.000008
injective-protocol
Injective (INJ) $ 38.17
maker
Maker (MKR) $ 3,591.29
kaspa
Kaspa (KAS) $ 0.139731
thorchain
THORChain (RUNE) $ 9.35
theta-token
Theta Network (THETA) $ 2.95
fantom
Fantom (FTM) $ 1.00
arweave
Arweave (AR) $ 41.85
lido-dao
Lido DAO (LDO) $ 2.91
first-digital-usd
First Digital USD (FDUSD) $ 0.999891
gala
GALA (GALA) $ 0.0673
sui
Sui (SUI) $ 2.01
floki
FLOKI (FLOKI) $ 0.000254
monero
Monero (XMR) $ 136.01
celestia
Celestia (TIA) $ 14.14
sei-network
Sei (SEI) $ 0.866055
algorand
Algorand (ALGO) $ 0.272801
rocket-pool-eth
Rocket Pool ETH (RETH) $ 3,929.07
flow
Flow (FLOW) $ 1.40
quant-network
Quant (QNT) $ 138.93
mantle-staked-ether
Mantle Staked Ether (METH) $ 3,657.29
beam-2
Beam (BEAM) $ 0.036103
aave
Aave (AAVE) $ 127.15
bonk
Bonk (BONK) $ 0.000028
conflux-token
Conflux (CFX) $ 0.481883
bitcoin-sv
Bitcoin SV (BSV) $ 92.91
singularitynet
SingularityNET (AGIX) $ 1.41
wrapped-eeth
Wrapped eETH (WEETH) $ 3,686.90
jupiter-exchange-solana
Jupiter (JUP) $ 1.29
starknet
Starknet (STRK) $ 2.28
elrond-erd-2
MultiversX (EGLD) $ 61.26
dydx-chain
dYdX (DYDX) $ 3.48
havven
Synthetix Network (SNX) $ 4.94
axie-infinity
Axie Infinity (AXS) $ 11.23
the-sandbox
The Sandbox (SAND) $ 0.694265
ribbon-finance
Ribbon Finance (RBN) $ 1.63
bittorrent
BitTorrent (BTT) $ 0.000002
bitget-token
Bitget Token (BGB) $ 1.05
ether-fi-staked-eth
ether.fi Staked ETH (EETH) $ 3,559.98
ethena-usde
Ethena USDe (USDE) $ 1.00
worldcoin-wld
Worldcoin (WLD) $ 8.44
tezos
Tezos (XTZ) $ 1.40
mina-protocol
Mina Protocol (MINA) $ 1.26
pyth-network
Pyth Network (PYTH) $ 0.906191
ondo-finance
Ondo (ONDO) $ 0.913482
flare-networks
Flare (FLR) $ 0.035659
ordinals
ORDI (ORDI) $ 62.52
ecash
eCash (XEC) $ 0.000067
axelar
Axelar (AXL) $ 2.11
chiliz
Chiliz (CHZ) $ 0.144763
ronin
Ronin (RON) $ 4.20
apecoin
ApeCoin (APE) $ 2.04
decentraland
Decentraland (MANA) $ 0.677183
gatechain-token
Gate (GT) $ 9.43
eos
EOS (EOS) $ 1.10
akash-network
Akash Network (AKT) $ 5.32