Strong $ETH Price: Bulls Seeking Upside
Ethereum began falling from $1,850. ETH is stabilizing at $1,800 and may rise beyond $1,820.
Ethereum corrected below $1,800.
The price is over $1,780 and the 100-hour SMA.
The hourly ETH/USD chart shows a short-term contracting triangle with resistance around $1,810.
The pair might rise again if it breaks $1,850 resistance.
Ethereum Price Expects Growth
Ethereum price stayed over $1,745 and rose like Bitcoin. Before bears emerged, ETH rose over $1,800 resistance.
Price corrected after reaching $1,842 high. Price fell below $1,820. The price fell below the 50% Fib retracement line of the $1,746 swing low to $1,842 high upward advance.
Bulls were strong at $1,780, the 61.8% Fib retracement line of the upward rise from the $1,746 swing low to the $1,842 high.
Ethereum is over $1,780 and the 100-hour SMA. The price may face resistance at $1,810 on the upside. Around $1,820 is the next major resistance. On the hourly ETH/USD chart, a short-term contracting triangle with resistance around $1,810 is formed.
Near $1,850 is the first significant obstacle. A clean break over $1,850 might push the price above $1,920. Above $1,920 barrier might lead to greater advances in the following sessions. Ether might soar to $1,950 or $2,000 in the short future.
Another ETH drop?
Ethereum may fall again if it fails to break $1,850. At $1,780, downward support begins. First big support is around $1,750.
A decisive break below $1,750 might bring the price around $1,620. If losses continue, the price may reach $1,600 support. The next support is $1,550.
Tech Indicators
Hourly ETH/USD MACD is rising in the positive zone.
Hourly ETH/USD RSI is over 50.
Major Supportโ$1,780
Major Resistance: $1,850 $