$ETH Executive summary
Technical analyses on the hourly frame show strong buy signals for Ethereum at around $1,850, with upward momentum supported by positive indicators such as RSI and MACD, and positive moving averages, which enhances the likelihood of continuing the rise towards $1,860–$1,870 in the coming hours, provided that key pivot points are surpassed; while failure to break through reveals the possibility of a rebound towards $1,836–$1,827 as initial support tests.
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Current price and trend
Current price
The current price at the time of writing this report is around $1,843.33 according to CoinDesk, with a 24-hour trading volume of approximately $8.2 billion.
CoinMarketCap data confirms a close price at $1,852.81, up 4.24% over 24 hours.
A look at the short-term timeframe
The TradingView summary on the 5-minute frame shows neutral signals from Oscillators, indicating a price formation or consolidation phase before a decisive movement.
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Technical indicators (hourly frame)
The Relative Strength Index (RSI) at 70.20, in the buying zone, reflecting positive momentum.
MACD positive at 10.05, confirming an ongoing upward trend.
ADX is high at 64.23, indicating strength in the current trend.
StochRSI in the overbought zone (93.6), warning of a potential short-term pullback.
The moving averages (MA5≈$1,835; MA10≈$1,822; MA50≈$1,804) all signal buy on the hourly frame.
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Support and resistance levels
The classical pivot point at $1,847.57;
First support (S1): $1,836.13
First resistance (R1): $1,856.56
Fibonacci pivot at $1,847.57;
Second support: $1,839.77
Second resistance: $1,855.37
According to Barchart:
Another price: $1,850.72
First support: $1,751.73
First resistance: $1,828.22
Second resistance: $1,860.50
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Expected scenarios
Bullish scenario: If the price surpasses $1,856.56 (R1), it targets $1,860–$1,868, then $1,876 as a higher resistance point.
Reversal scenario: Upon failure to break and returning below $1,836.13 (S1), the price may test $1,827.14 (S2), then $1,815.70 (S3) in the short term.
