The Ethereum cryptocurrency is looking to break past the key resistance point of $1,920, continuing its current rally. After forming a base above the $1,800 support zone, the price of Ethereum has been steadily increasing, currently trading above $1,880 and the 100-hourly Simple Moving Average. There is also a major bullish trend line forming with support near $1,885 on the hourly chart of ETH/USD.

Immediate resistance is near the $1,905 level, with the next major resistance forming near $1,920. If Ethereum succeeds in breaking above this resistance, there is a potential of further gains pushing the coin towards the $2,000 mark. Breaking above this resistance could lead to Ethereum moving to the $2,120 level.

However, if Ethereum fails to break past the $1,920 level, it could start a downside correction, with initial support on the downside near the $1,885 level and the bullish trend line. Any more losses could force Ether to the $1,840 support zone. It is important for Ethereum to maintain momentum above $1,880 for the current rally to continue. Currently, the MACD for ETH/USD is gaining momentum in the bullish zone, while the RSI is above the 50 level.



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