Ethereum Price Could Soar To $1,900 – Here’s What You Need To Know

21. Juni 2023 Aus Von admin

Ethereum Price Analysis

• Ethereum price is eyeing an upside break above the $1,760 resistance against the US Dollar.
• There was a break above a key bearish trend line with resistance near $1,725 on the 4-hour chart (data feed from Coinbase).
• The pair could climb further if it stays above the $1,685 support zone.

Price Rising Above $1720

Ethereum price is rising above the $1,720 level against the US Dollar. In the past few days, ETH saw a bearish wave from the $1,900 zone and declined below the $1,800 level and 55 simple moving average (4 hours). A low was formed near $1,620 and now attempting a fresh increase. There was a move above the $1,680 resistance level and broke the 23.6% Fib retracement level of downward move from swing high to low. It is now trading above $1,720 and 55 simple moving average (4 hours).

Upside Break Above Resistance

Immediate resistance on the upside is near at $1760 level which is close to 50% Fib retracement level of downward move from swing high to low. If ETH/USD clears this resistance then it could rise further towards up to$1800 zone or even higher towards to 1$900 resistance zone or even 1$920 in near term. On downside initial support lies at around 1$700 followed by 1$680 levels as major supports where break below this might push ethereum towards 1$620 or lower in coming days.

Indicators Signal Bullish Momentum

Technical indicators like 4hours MACD & RSI are signaling bullish momentum for Ethereum as MACD has moved into bullish zone while RSI has maintained its position above 50 level which shows buying pressure in market currently for etheruem token .

The overall outlook of Ethereum looks bullish as long as it stays above 1$680 support . If ETH/USD clears this then it could see an uptrend in prices towards 1$900 or higher zones in coming days ahead .