TA: Ethereum Stuck Below $1,825, Why 100 SMA Holds The Key

TA: Ethereum Stuck Below $1,825, Why 100 SMA Holds The Key

Ethereum is facing a strong resistance near the $1,825 and $1,830 levels against the US Dollar. ETH price is likely to remain stable above the 100 hourly SMA or $1,680 in the near term.

  • Ethereum seems to be struggling to clear the $1,825 and $1,830 resistance levels.
  • The price is now trading well below $1,800, but it is above the 100 hourly simple moving average.
  • There is a major bullish trend line forming with support near $1,755 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to remain in a range above the $1,700 support zone or $1,650 in the near term.

Ethereum Price Facing Hurdles

Ethereum made another attempt to clear the $1,825 resistance level, but it failed. ETH formed a high near the $1,818 level and recently started a fresh decline.

Conversely, bitcoin price was able to clear the $48,000 level and it even traded to a new all-time high near $48,680. Ether price is now trading well below the $1,800 level, but it is above the 100 hourly simple moving average.

Read the full article at newsbtc.com

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