Ethereum Price Holds Strong at $1,800 - A Strong Case for Upside

NewsBTC
NewsBTC

30 Jun 2023 3:27 AM

Ethereum price is holding gains above the $1,800 level against the US Dollar. ETH could gain bullish momentum if it clears the $1,880 resistance zone....

  • Ethereum price is holding gains above the $1,800 level against the US Dollar.
  • ETH could gain bullish momentum if it clears the $1,880 resistance zone.
  • Ethereum is attempting a fresh increase from the $1,820 zone.
  • The price is trading near $1,865 and the 100-hourly Simple Moving Average.
  • There was a break above a connecting bearish trend line with resistance near $1,838 on the hourly chart of ETH/USD.
  • The pair could rise steadily if it clears the $1,880 resistance in the near term.
  • Immediate resistance levels are at $1,875 and $1,900, with the first breakout level at $1,920.
  • A close above $1,920 could start a fresh rally, with the next resistance levels at $2,000 and $2,050.
  • If Ethereum fails to clear the $1,875 or $1,880 resistance, it could start another decline.
  • Initial support levels are at $1,860 and the 100-hourly Simple Moving Average, followed by $1,840 and $1,820.
  • Technical indicators show the MACD gaining momentum in the bullish zone, while the RSI is below the 50 level.

The sentiment of the article is generally positive, as it discusses the potential for Ethereum to gain bullish momentum and start a fresh rally if it clears the resistance levels. However, it also mentions the possibility of another decline if Ethereum fails to break the resistance.

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