Ethereum Price Pullback Is Healthy

Ethereum rose over $1,800 again. After rising, ETH is falling below $1,820.

Ethereum held over $1,750 and rose again.
The price is below $1,820 and the 100-hour SMA.
The hourly ETH/USD chart shows a short-term negative trend line with resistance at $1,835

The pair might rise again if it breaks $1,840 resistance.
Dropping Ethereum Price

Ethereum price rose again like Bitcoin over $1,750. ETH broke $1,800 and $1,820 barrier to create the stage for a further rise.

Bullish traders broke $1,865. The price began a negative drop after reaching $1,873. It fell below $1,820 and $1,800. Price fell below the 50% Fib retracement line of the $1,734 swing low to $1,873 high upward advance.

Ethereum has fallen below $1,820 and the 100-hour SMA. ETH/USD's hourly chart shows a short-term bearish trend line with resistance at $1,835

The price may face resistance at $1,820 on the upside. Around $1,840 is the next major resistance. Near $1,880 is the first substantial resistance. A clean break over $1,880 might push the price above $1,950. Above $1,950 barrier might lead to greater advances in the following sessions. Ether may reach to $2,000 or $2,050 soon.

Another ETH drop?
Ethereum may fall again if it fails to break $1,820. Initial downside support is approaching $1,785 and the 61.8% Fib retracement level of the bullish run from $1,734 swing low to $1,873 high. Near $1,765, substantial support begins.

A decisive break below $1,765 might bring the price into $1,735. If losses continue, the price may reach $1,720 support. The next support is $1,650.

Tech Indicators

The negative MACD for ETH/USD is growing.

Hourly RSI: ETH/USD is below 50.

Major Support—$1,765

Major Resistance: $1,840

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