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Price ethereum began a recovery wave higher than $ 1,880. ETH is now unifying and facing obstacles near $ 2020 resistance.
- ETHEREUM has started a recovery wave higher than $ 1920.
- The price is traded less than $ 1950 and the simple moving average is 100 hours.
- There is a growing short -term channel that is formed with support at 1980 dollars on the ETH/USD (data feeding).
- The pair must give the resistance levels of $ 2020 and $ 2040 to start a decent increase.
Ethereum price face resistance
Ethereum price shaped a base higher than $ 1820 and the recovery wave began, such as Bitcoin. ETH managed to scan $ 1,880 and $ 1920.
The bulls paid the price above the level of $ 1950. There was a 50 % higher step from the FIB re -declining level of the falling wave of the 2068 dollar swing to a level less than $ 1,936. However, the bears seem active near the resistance area of $ 2020.
ETHEREUM price is now trading less than $ 1950 and a simple moving average for 100 hours. There is also a short -term emerging channel formed with support at $ 1980 on the ETH/USD watch chart.
In the upward direction, the price appears to face obstacles near the level of 2020 dollars. The next main resistance is approaching the level of $ 2040 or the level of fiber re -fiber 76.4 % for the descending wave from the 968 dollar hawk to less than $ 1,936.
The first main resistance approaches the level of $ 2040. A clear step over $ 2040 may send the price to $ 2,120 resistance. Al -Sulayiya break on $ 2,120 may require more gains in the upcoming sessions. In the aforementioned case, the ether may rise towards the resistance area of $ 2,150 or even 2,250 dollars in the short term.
Another decrease in ETH?
If Ethereum fails to wipe the resistance of $ 2040, it may begin to decrease. Initial support is on the negative side near the level of $ 1980. The first main support sits near the $ 1950 region.
The clear step may lead to a $ 1950 support to pay the price towards $ 1,880. Any other losses may send the price to the support level of $ 1850 in the short term. The next main support sits at $ 1,800.
Technical indicators
Every MACD watch – MACD is acquired for ETH/USD momentum in the upper area.
Every RSI watch – RSI for ETH/USD is now higher than 50 regions.
The main support level – $ 1,880
The main resistance level – 2040 dollars
