$ETH

🚨 Ethereum Price Support at $1,750 Critical for Sustaining ETH Price Rally 🚨

Given the significant obstacles facing the ETH price rally, the technical outlook for Ethereum is mixed. Sellers may be losing strength, as indicated by the hourly MACD’s indications of waning bearish momentum. The RSI is still below the critical 50 level, though, suggesting a cautious and unsure trading environment. Additionally, Ethereum is still trading below its 100-hour SMA. This remains a strong ETH key resistance level. Its significance as a bullish defense zone is further supported by the fact that the $1,750 ETH price support is near the 76.4% Fibonacci retracement level from the $1,723 to $1,848 swing.

A decisive close above the $1,800 ETH key resistance could reinvigorate the ETH price rally. A new advance in the direction of $1,850 and higher is therefore made possible. However, Ethereum can be subject to fresh selling pressure if the $1,750 support is not maintained. Under such circumstances, ETH might decline near the $1,700 mark, with additional downside threats aiming for $1,650 and possibly $1,620.

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