The Ethereum price recently found support near $1,750 against the US dollar and has started to rise again. It is currently attempting to break above the $1,850 resistance level. The price is trading above $1,780 and the 100-hourly Simple Moving Average.
Source: ETHUSD on TradingView.com
There is a bullish trend line forming with support near $1,795 on the hourly chart. If Ethereum clears the resistance levels at $1,825 and $1,850, it could continue its rally. The next key resistance levels to watch are $1,880 and $1,950, with the potential for further gains towards $2,000.
However, if the price fails to break the $1,825 resistance, it may experience another decline. The immediate support levels are $1,800 and $1,750, followed by a stronger support near $1,740 and the 100-hourly Simple Moving Average. The technical indicators, such as the MACD and RSI, suggest a bullish momentum for Ethereum in the short term.
Source: NEWSBTC
