TA: Ethereum Retreats From $1,850, Why ETH Remains Attractive Near $1,750

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Ethereum extended its rally above the $1,800 resistance against the US Dollar. ETH price is currently correcting lower from $1,840, but it might find bids near $1,750.

  • Ethereum remained in a positive zone and it pumped above the $1,800 resistance.
  • The price is now well above the $1,750 support and the 100 hourly simple moving average.
  • There is a major bullish trend line forming with support near $1,720 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could correct lower, but the bulls are likely to protect $1,750 and $1,720.

Ethereum Price Turns Attractive

Ethereum started a steady increase above the $1,750 resistance, similar to bitcoin. ETH broke the $1,780 and $1,800 resistance levels to move further into a positive zone.

The price even cleared the $1,820 level and settled nicely above the 100 hourly simple moving average. It traded as high as $1,840 before starting a downside correction. There was a break below the $1,820 and $1,800 levels.