Ethereum is fighting to regain the profit zone of $ 1,975, while it is testing the support of $ 1,930

Ethereum is fighting to regain the profit zone of $ 1,975, while it is testing the support of $ 1,930

Ethereum has corrected its winnings from the $ 1,975 zone and adjusted the price downwards. It is currently testing the support of $ 1,930 and could soon rise again.

On the hourly chart of ETH/USD, a short-term downward trend channel with a resistance is formed close to $ 1,950. The price must remain stable over $ 1,930 at short notice to start a further increase.

The Ethereum Prize tried to overcome the $ 1,975 zone, but failed. Similar to Bitcoin, ETH had difficulty gaining momentum for an increase to $ 2,000 and therefore corrected the profits.

There was a decline in the support of $ 1,950, but the bulls were active near the support zone of $ 1,930. The price also tested the 50 %fib retracement level of the upward movement from the swing low of $ 1,890 to the high of $ 1,975.

Nevertheless, a clear movement about the resistance of $ 1,975 could drive the price towards $ 2,000. The next resistance is $ 2,050, above which the price could increase in the direction of $ 2,120. Another upward movement could finally lead to the resistance level of $ 2,200.

If, however, it does not succeed in overcoming the resistance of $ 1,950 or $ 1,950, the downward trend could stop. The first support is $ 1,930 and the 100-hour SMA. If there are further losses, the next big support is $ 1,910, followed by $ 1,900 and $ 1,870 Technically speaking, the MACD for ETH/USD loses dynamics in the bullish area, while the RSI is below the 50 mark.

Overall, Ethereum strives to reach the $ 2,000 brand, but it has difficulties to achieve this for the time being. With a view to the technical indicators and the current market center, it will be interesting to see whether Ethereum keeps support at $ 1,930 and can start a new upward trend.