$ETH

Ethereum (ETH) is trading around $1,789.53, having surged over 12% in the past 24 hours. This rally is attributed to positive macroeconomic sentiment and reduced selling pressure in ETH derivatives markets.

Key Resistance Levels for ETH

To sustain its upward momentum, ETH needs to overcome several resistance levels:

• $1,800: Currently under pressure; a decisive move above this level could signal further gains. 

• $1,850: The next significant resistance; breaking this could open the path toward $1,920. 

• $1,920: A move above this level might lead to tests of the $1,950–$2,000 range.

• $2,080–$2,100: Further resistance levels to watch; surpassing these could indicate a strong bullish trend.

Support Levels to Monitor

In case of a pullback, key support levels include:

• $1,765: Initial support; a drop below this could lead to further declines. 

• $1,710: A significant support zone; maintaining above this is crucial for bullish momentum.

• $1,620: A deeper support level; falling below this might signal a bearish reversal. 

Technical Indicators

• RSI (Relative Strength Index): Currently at 72, indicating overbought conditions but also strong buying pressure. 

• MACD (Moving Average Convergence Divergence): Bullish crossover observed, suggesting potential for further price increases. 

• Golden Cross: The 50-day moving average has crossed above the 200-day moving average, reinforcing the bullish trend.

In summary, ETH is at a critical juncture. A sustained move above $1,800 could pave the way for further gains, while failure to hold above key support levels might lead to a retracement.