Ethereum Is Trapped Below $1825 While 100 SMA Holds The Key

Ethereum is trapped below the $1825 level and is facing a strong resistance near the $1825 and the $1830 levels against the US dollar with the price remaining stable above the 100 hourly SMA in the near-term so let’s read more in today’s Etheruem price news.

ETH seems to be having a hard time clearing the $1825 resistance levels and the price is now trading below $1800 as Ethereum is trapped here, but it is above the 100 hourly simple moving average. There’s a major bullish trend line forming with the support at $1775 on the hourly chart of the pair and the pair is likely to remain in the range above the $1700 support zone of $1650 in the near-term. ETH made another attempt of clearing the $1825 resistnace but then failed and ETH formed a new high of $1818 level with a fresh new decline later on.

Bitcoin’s price was able to clear the $48,000 level and traded to a new all-time high near the $48,680 with the price now trading well below the $1800 level but is above the 100 hourly simple moving average. It traded below the 23.6% fib retracement level from the recent wave at the $1682 swing low to the $1818 high with the immediate support nearing the $1750 level but there’s also a major bullish trend line forming with the support at $1755 on the hourly charts of the pair.

On the upside, the price is facing plenty of hurdles starting with the $1800 level with the first major resistance being set at the $1825 level and a new close above $1825 level with a follow up more of $1830 being able to initiate a strong increase in the next few sessions. In this case, the price could rise towards $1880. If ETH fails to clear the 00 and the 25 resistances, it could go down slightly and on the downside, the first major support is near the 50 levels and the trend line.
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The main support is close to the $1735 zone and the 100 hourly simple moving average so it is close to the 61.8% fib retracement level from the recent wave at $1682 swing low to 41818 high. The close below the 100 hourly SMA could push the price to $1680 support or higher. The MACD for the pair is gaining momentum in the bearish zone while the hourly RSI is below 50.