Ethereum's Current Market Position
The Tether loginEthereum network's native token has demonstrated notable resilience after correcting below the $1,780 threshold. Currently trading in the $1,800 vicinity, ETH appears to be establishing a foundation for potential advancement beyond the $1,820 barrier.
- Recent price action saw ETH dip below $1,765 before recovering
- The asset maintains position above both $1,770 and the 100-hour SMA
- A bearish trend line with resistance at $1,815 forms on ETH/USD charts
- Breaking through $1,820 could initiate new upward momentum
Technical Indicators Suggest Bullish Potential
Following stability above $1,725, Ethereum mirrored Bitcoin's recovery pattern. After testing $1,746, ETH successfully reclaimed the $1,770 level, surpassing the 23.6% Fibonacci retracement from its recent swing high of $1,857 to low of $1,746.
While the $1,800 resistance has proven formidable, with price rejection occurring near the 50% Fib level, the current trading position above both $1,770 and the 100-hour SMA indicates underlying strength. The immediate challenge remains the psychological $1,800 barrier, with $1,820 representing the next significant resistance point.
Potential Price Scenarios
Should Ethereum successfully breach the $1,820 resistance, the path toward $1,850 becomes viable. Continued momentum beyond this point could target $1,920, potentially opening the door for tests of $1,950 or even $2,000 in subsequent trading sessions.
Conversely, failure to overcome $1,820 might trigger corrective movement. Initial support emerges at $1,770, followed by stronger foundations at $1,750. A breakdown below this level could see ETH test $1,650, with $1,620 and $1,550 serving as subsequent support zones.
Market Indicators to Watch
- MACD shows increasing bullish momentum on hourly charts
- RSI maintains position above the critical 50 level
- Key support holds at $1,770 with resistance at $1,820
Market participants should monitor these technical levels closely as Ethereum's price action develops in coming sessions. The current setup suggests potential for either continuation of the recent recovery or temporary consolidation before next directional movement.