• About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
  • Email Whitelisting
Saturday, September 30, 2023
United for Profit
  • Personal Finance
  • Cryptocurrency
  • Strategy
  • Business
  • Retirement
No Result
View All Result
  • Personal Finance
  • Cryptocurrency
  • Strategy
  • Business
  • Retirement
No Result
View All Result
United for Profit
No Result
View All Result
Home Cryptocurrency

Ethereum Price Remains Range Bound As Bulls Await The Next Major Move

by
May 22, 2023
in Cryptocurrency
0
Ethereum Price Remains Range Bound As Bulls Await The Next Major Move
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

Ethereum price is facing a barrier near the $1,840 resistance against the US Dollar. ETH could attempt another upside break if it clears the $1,825 and $1,840 resistance levels.

Ethereum is currently facing many barriers near the $1,840 resistance zone.
The price is trading below $1,810 and the 100-hourly Simple Moving Average.
There is a key bearish trend line forming with resistance near $1,805 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a decent increase if it clears the $1,825 and $1,840 resistance levels.

Ethereum Price Stuck Below $1,840

Ethereum’s price failed another time to clear the $1,840 and $1,850 resistance levels. ETH declined below the $1,800 level to remain in a range, similar to Bitcoin.

However, the price remained stable above the $1,785 support. A low is formed near $1,791 and the price is now consolidating losses. It is slowly moving higher above the 23.6% Fib retracement level of the recent decline from the $1,828 swing high to the $1,791 low.

Ether is now trading below $1,810 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance near $1,805 on the hourly chart of ETH/USD.

Immediate resistance is near the trend line zone. The first major resistance is near the $1,810 level and the 100-hourly Simple Moving Average. It is close to the 61.8% Fib retracement level of the recent decline from the $1,828 swing high to the $1,791 low.

Source: ETHUSD on TradingView.com

The next resistance sits near $1,825, above which Ethereum could rise toward $1,840. If there is a close above the $1,840 resistance level, the price might gain bullish momentum toward the $1,920 level. Any more gains above the $1,920 resistance zone could start a steady increase toward the $2,000 resistance.

More Losses in ETH?

If Ethereum fails to clear the $1,810 resistance, it could start another decline. Initial support on the downside is near the $1,785 level.

The next major support is near the $1,770 zone. If there is a close below the $1,770 support, the price could gain bearish momentum. In the stated case, the price might drop toward the $1,720 support zone. Any more losses may perhaps take the price toward the $1,700 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is below the 50 level.

Major Support Level – $1,770

Major Resistance Level – $1,825

Previous Post

Bitcoin Price Holds Support But Bears Are Still In Control

Next Post

Tron Price Prediction: TRX Extends Rally As Bulls Eye $0.08

Next Post
Tron Price Prediction: TRX Extends Rally As Bulls Eye $0.08

Tron Price Prediction: TRX Extends Rally As Bulls Eye $0.08

Exchange Rate

Exchange Rate USD: Sat, 30 Sep.

  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
  • Email Whitelisting

Copyright © 2023 UnitedForProfit. All Rights Reserved.

Disclaimer: UnitedForProfit.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Marketbeat Verification
  • MB2
  • Privacy Policy
  • Privacy Policy & Important Disclaimer
  • Terms & Conditions
  • Thank You

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.