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Ethereum price started a recovery wave above the $1,850 level. ETH is now consolidating and facing key hurdles near the $1,920 level.

• Ethereum started a recovery wave above $1,820 and $1,850 levels.
• The price is trading above $1,860 and the 100-hourly Simple Moving Average.
• There is a connecting bullish trend line forming with support at $1,860 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair must clear the $1,900 and $1,920 resistance levels to start a decent increase.

Ethereum Price Starts Recovery

Ethereum price managed to stay above the $1,750 support zone and started a recovery wave, like Bitcoin. ETH was able to climb above the $1,820 and $1,850 resistance levels.

The bulls even pushed the price above the $1,880 resistance zone. There was a move above the 50% Fib retracement level of the downward wave from the $2,032 swing high to the $1,767 low. However, the bears are active near the $1,920 zone.

Ethereum price is now trading above $1,850 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $1,860 on the hourly chart of ETH/USD.

On the upside, the price seems to be facing hurdles near the $1,900 level. The next key resistance is near the $1,920 level and the 61.8% Fib retracement level of the downward wave from the $2,032 swing high to the $1,767 low.

The first major resistance is near the $1,970 level. A clear move above the $1,970 resistance might send the price toward the $2,020 resistance. An upside break above the $2,020 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,050 resistance zone or even $2,120 in the near term.

Another Decline In ETH?

If Ethereum fails to clear the $1,920 resistance, it could start another decline. Initial support on the downside is near the $1,860 level and the trend line. The first major support sits near the $1,845 zone.

A clear move below the $1,845 support might push the price toward the $1,800 support. Any more losses might send the price toward the $1,765 support level in the near term. The next key support sits at $1,710.

Technical Indicators

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

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $1,860

Major Resistance Level – $1,920

Ethereum price started a recovery wave from the $1,750 zone. ETH is now consolidating and facing hurdles near the $1,920 resistance.

• Ethereum started a recovery wave above the $1,850 level.
• The price is trading below $1,950 and the 100-hourly Simple Moving Average.
• There is a short-term bearish trend line forming with resistance at $1,920 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair must clear the $1,920 and $1,950 resistance levels to start a decent increase.

Ethereum Price Faces Hurdles

Ethereum price formed a base above the $1,750 level and started a recovery wave, like Bitcoin. ETH was able to clear the $1,800 and $1,820 resistance levels.

The bulls pushed the price above the $1,880 level. There was a move above the 23.6% Fib retracement level of the downward wave from the $2,150 swing high to the $1,752 low. However, the bears seem to be active near the $1,920 resistance zone.

Ethereum price is now trading below $1,950 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $1,920 level.

There is also a short-term bearish trend line forming with resistance at $1,920 on the hourly chart of ETH/USD. The next key resistance is near the $1,950 level or the 50% Fib retracement level of the downward wave from the $2,150 swing high to the $1,752 low.

The first major resistance is near the $2,000 level. A clear move above the $2,000 resistance might send the price toward the $2,060 resistance. An upside break above the $2,060 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,120 resistance zone or even $2,250 in the near term.

Another Decline In ETH?

If Ethereum fails to clear the $1,920 resistance, it could start another decline. Initial support on the downside is near the $1,850 level. The first major support sits near the $1,800 zone.

A clear move below the $1,800 support might push the price toward the $1,750 support. Any more losses might send the price toward the $1,720 support level in the near term. The next key support sits at $1,650.

Technical Indicators

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

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $1,800

Major Resistance Level – $1,920

Bitcoin price is consolidating above the $95,000 support zone. BTC must settle above the $100,000 level to start a decent increase in the near term.

• Bitcoin started a fresh increase from the $95,200 zone.
• The price is trading near $96,500 and the 100 hourly Simple moving average.
• There is a connecting bullish trend line forming with support at $96,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start another increase if it clears the $98,500 zone.

Bitcoin Price Eyes Fresh Increase

Bitcoin price remained in a range above the $95,000 support level. BTC tested the $95,200 zone. A low was formed at $95,352 and the price recently started a fresh increase within a range.

There was a move above the $95,500 and $96,000 levels. The price spiked and tested the 50% Fib retracement level of the downward move from the $98,077 swing high to the $95,352 low. There is also a connecting bullish trend line forming with support at $96,000 on the hourly chart of the BTC/USD pair.

Bitcoin price is now trading near $96,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $96,700 level. The first key resistance is near the $97,000 level or the 61.8% Fib retracement level of the downward move from the $98,077 swing high to the $95,352 low.

The next key resistance could be $98,000. A close above the $98,000 resistance might send the price further higher. In the stated case, the price could rise and test the $98,500 resistance level. Any more gains might send the price toward the $100,000 level or even $100,500.

Another Decline In BTC?

If Bitcoin fails to rise above the $98,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $96,000 level. The first major support is near the $95,500 level.

The next support is now near the $95,000 zone. Any more losses might send the price toward the $93,500 support in the near term. The main support sits at $92,200.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $96,000, followed by $95,000.

Major Resistance Levels – $97,000 and $98,500.