Ethereum has been on a path of recovery, moving back up from lows near $1,850, with the price trying to break through resistance at $1,880. After briefly achieving highs above $1,900 earlier this month, subsequent gains were limited and the price has since been consolidating losses.

However, there are promising signs that Ethereum might be set to make another move higher, even higher than that of earlier this month. The main resistance level is the $1,880 mark, which must be broken in order for Ethereum to make any thrust towards the $2,000 level. If Ethereum fails to break through this level, it could be pulled back down to the initial support level at $1,850 and perhaps even further down to between $1,770 and $1,700.

The hourly RSI and MACD are both showing potential for gains. The RSI is close to the 50-mark, indicative of neutral or sideways price action and suggesting that gains might be achievable, while the MACD is approaching the bearish zone and losing pace.

If Ethereum is to make any significant gains, it will need to break through the YFib retracement level, set at 61.8%, which stands at $1,900. Once the $1,800 and $1,900 levels have been broken, Ethereum could aim towards the swing-high of $2,120 seen earlier this month. This could potentially be the tipping point for further gains, allowing Ethereum to test the maximums seen earlier this year.



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