• bitcoinBitcoin (BTC) $ 62,313.00
  • ethereumEthereum (ETH) $ 2,457.65
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  • solanaSolana (SOL) $ 144.56
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  • cardanoCardano (ADA) $ 0.345774
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  • wrapped-stethWrapped stETH (WSTETH) $ 2,905.55
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 62,217.00
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  • pepePepe (PEPE) $ 0.000010
  • wrapped-eethWrapped eETH (WEETH) $ 2,582.06
  • internet-computerInternet Computer (ICP) $ 8.02
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  • kaspaKaspa (KAS) $ 0.139703
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  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.378274
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  • stellarStellar (XLM) $ 0.090448
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  • okbOKB (OKB) $ 42.80
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  • ethena-usdeEthena USDe (USDE) $ 0.998378
  • immutable-xImmutable (IMX) $ 1.45
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  • optimismOptimism (OP) $ 1.65
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  • hedera-hashgraphHedera (HBAR) $ 0.052754
  • mantleMantle (MNT) $ 0.606456
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  • arbitrumArbitrum (ARB) $ 0.544730
  • injective-protocolInjective (INJ) $ 19.78
  • vechainVeChain (VET) $ 0.022578
  • cosmosCosmos Hub (ATOM) $ 4.37
  • thorchainTHORChain (RUNE) $ 5.02
  • whitebitWhiteBIT Coin (WBT) $ 11.67
  • sei-networkSei (SEI) $ 0.439756
  • the-graphThe Graph (GRT) $ 0.159368
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,460.95
  • bitget-tokenBitget Token (BGB) $ 1.06
  • bonkBonk (BONK) $ 0.000021
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,753.13
  • flokiFLOKI (FLOKI) $ 0.000138
  • theta-tokenTheta Network (THETA) $ 1.30
  • arweaveArweave (AR) $ 19.21
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  • makerMaker (MKR) $ 1,415.04
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,563.68
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 62,226.00
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  • matic-networkPolygon (MATIC) $ 0.377937
  • algorandAlgorand (ALGO) $ 0.122777
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  • kucoin-sharesKuCoin (KCS) $ 8.05
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  • bitcoin-svBitcoin SV (BSV) $ 45.85
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,426.21
  • bittorrentBitTorrent (BTT) $ 0.00000092
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  • notcoinNotcoin (NOT) $ 0.007831
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,507.94
  • aerodrome-financeAerodrome Finance (AERO) $ 1.24
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  • starknetStarknet (STRK) $ 0.398455
  • msolMarinade Staked SOL (MSOL) $ 176.62
  • klay-tokenKlaytn (KLAY) $ 0.130267
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  • ordinalsORDI (ORDI) $ 35.34
  • neoNEO (NEO) $ 10.32
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  • elrond-erd-2MultiversX (EGLD) $ 25.59
  • axie-infinityAxie Infinity (AXS) $ 4.61
  • tokenize-xchangeTokenize Xchange (TKX) $ 8.62
  • paypal-usdPayPal USD (PYUSD) $ 0.999879
  • eigenlayerEigenlayer (EIGEN) $ 3.68
  • nervos-networkNervos Network (CKB) $ 0.015161
  • ecasheCash (XEC) $ 0.000034
  • tezosTezos (XTZ) $ 0.658201
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  • tether-goldTether Gold (XAUT) $ 2,619.10
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  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 62,245.00
  • mina-protocolMina Protocol (MINA) $ 0.523171
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,518.31
  • akash-networkAkash Network (AKT) $ 2.44
  • the-sandboxThe Sandbox (SAND) $ 0.252045
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  • sats-ordinalsSATS (Ordinals) (SATS) $ 0.00000028
  • cat-in-a-dogs-worldcat in a dogs world (MEW) $ 0.006598
  • dydx-chaindYdX (DYDX) $ 0.899568
  • ethereum-name-serviceEthereum Name Service (ENS) $ 17.02
  • roninRonin (RON) $ 1.59
  • nexoNEXO (NEXO) $ 0.987847
  • decentralandDecentraland (MANA) $ 0.286388
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  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,459.54
  • aioz-networkAIOZ Network (AIOZ) $ 0.462344
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Ethereum Price Breaking This Confluence Resistance Could Start Recovery

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Ethereum Price Breaking This Confluence Resistance Could Start Recovery

Ethereum price is finding bids above the $1,720 zone against the US Dollar. ETH could start a decent recovery if there is a move above the $1,770 resistance.

  • Ethereum is struggling below the $1,770 and $1,780 resistance levels.
  • The price is trading below $1,770 and the 100-hourly Simple Moving Average.
  • There was a break above a short-term contracting triangle with resistance near $1,740 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could recover if there is a move above the $1,770 and $1,780 levels.

Ethereum Price Holds Support

Ethereum’s price remained well-bid above the $1,720 support zone. ETH seems to be forming a base above the $1,720 level, similar to Bitcoin. A low is formed near $1,718 and the price is slowly moving higher.

There was a move above the $1,740 level. Besides, there was a break above a short-term contracting triangle with resistance near $1,740 on the hourly chart of ETH/USD. The pair is now struggling to settle above the 23.6% Fib retracement level of the key decline from the $1,855 swing high to the $1,718 low.

Ether is still trading below $1,770 and the 100-hourly Simple Moving Average. Immediate resistance is near the $1,760 zone and the 100-hourly Simple Moving Average. The next major resistance is near the $1,770 level. The first major resistance is near $1,780 or the 50% Fib retracement level of the key decline from the $1,855 swing high to the $1,718 low.

Ethereum Price Breaking This Confluence Resistance Could Start Recovery

Source: ETHUSD on TradingView.com

A proper move above the $1,770 and $1,780 resistance levels might send Ether toward $1,850. The next resistance sits near $1,880, above which Ethereum could rise toward the $1,920 level. Any more gains above the $1,920 resistance zone might send the price toward the $2,040 resistance.

Fresh Decline in ETH?

If Ethereum fails to clear the $1,780 resistance, it could start another decline. Initial support on the downside is near the $1,730 level and the triangle trend line.

The next major support is near the $1,720 level. If there is a break and close below the $1,720 support, the price could start a major decline toward the $1,640 support. Any more losses may perhaps send the price toward the $1,600 zone.

Technical Indicators

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

Hourly RSIThe RSI for ETH/USD is now above the 50 level.

Major Support Level – $1,720

Major Resistance Level – $1,780

Source

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