Ethereum price is in a tight spot as it struggles to make a convincing break out of the crucial $1,800 to $1,880 level against the US Dollar. After a failed attempt of breaking past $1,880, ETH is now trading below $1,850 and the 100-hourly Simple Moving Average. Immediate resistance is near the $1,835 and $1,840 levels. If the price can make a clear break above $1,840, it could start a decent increase towards the $1,920 and $1,975 resistance levels.
On the other hand, if Ethereum fails to clear the $1,840 resistance level, it could continue to move down. Initial support on the downside might be the $1,820 and $800 levels. Any more losses may take the price towards the $1,740 and $1,650 levels. Investors are advised to keep a close watch on the momentum to understand the next move of Ethereum in the near term.
Alina Sanders
- 2023-05-11
Ethereum Face Resistance of Breaking Out of $1,800 - $1,880 Range
Ethereum is in a tight spot as it struggles to make a convincing break out of the crucial $1,800 to $1,880 level against the US Dollar. After a failed attempt of breaking past $1,880,ETH is now trading below $1,850 and the 100-hourly Simple Moving Average.
