Ethereum stabilizes over $ 1,875 and could record an upward trend if the resistance of $ 1,915 is overcome

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Ethereum remains consolidated above the support zone of $ 1,875 compared to the US dollar. However, if it overcomes the resistance zone of $ 1,915, ETH could start a decent increase.

The Ethereum cryptocurrency managed to stay above the important support zone of $ 1,875. This shows that the bulls are still active and try to prevent further losses, similar to Bitcoin. Although the price has recovered a few points over the $ 1,890 brand, there is still resistance from the bears near the pivot level of $ 1,900.

On the hourly chart of ETH/USD, a declining trend line with a resistance near the brand of $ 1,910 is formed. Ethereum is currently trading below $ 1,920 and the 100-hour simple moving average. The immediate resistance is now near $ 1,910 and the trend line. In addition, the 23.6%FIB retracement level, which moves from the swing high at $ 2,027 up to $ 1,875, is nearby.

The first major resistance is $ 1,945, which corresponds to the 50%fib retracement level. If the price of this level overcomes, it could start a steady increase. The next major resistance is $ 2,030, and further profits could drive Ethereum in the direction of the resistance level of $ 2,120 at short notice.

However, there is the possibility of further losses if Ethereum fails to overcome the resistance of $ 1,915. The first support is close to the $ 1,885 mark. A major support is $ 1,875, and breaking this level could lead to a rapid drop in price. The next big support is near the level of $ 1,825. If the bulls are unable to defend the support of $ 1,825, there could be a decline in $ 1,770. Further losses could open the door for a movement in the direction of the support level of $ 1,720.

Technical indicators indicate that the MACD loses dynamics for ETH/USD in the bullish area. The RSI for ETH/USD is now below the 50 mark.

In summary, it can be said that Ethereum continues to act above the support zone of $ 1,875 and could potentially record an increase if it overcomes the resistance of $ 1,915. It remains to be seen how the market will develop in the coming days and whether the bulls will be able to continue the upward trend.