Blockchain News

Ethereum Price Prediction – Key Risks Warn Against Chasing ETH Higher

Ethereum, the popular cryptocurrency, is currently trading in a range above the $1,875 level. However, it faces resistance below $1,910 and the 100-hourly Simple Moving Average (SMA). On the hourly chart of ETH/USD, there is a notable rising channel with support of around $1,885.

If the price remains below $1,920 for an extended period, it could experience a significant decline. Recently, Ethereum attempted to surpass the $1,900 level but failed to gain traction above the $1,920 resistance, following a similar pattern to Bitcoin.

While the price briefly dipped below $1,885, it managed to stabilize above $1,875, with a low formed near $1,877. Currently, it is slowly recovering above the $1,885 level, with the mentioned rising channel providing support.

The immediate resistance lies around the $1,900 level, which is close to the 50% Fibonacci retracement level of the recent decline from the $1,927 swing high to the $1,877 low. If Ethereum surpasses this hurdle, it may test the main resistance at $1,920.

Beyond $1,920, the next significant resistance level stands at $1,940. If the bullish momentum continues, Ethereum could potentially reach the $2,000 resistance in the near future.

However, if the cryptocurrency fails to break the $1,920 resistance, it might face downward pressure. The initial support on the downside is near $1,885, aligned with the channel trend line. A breach of this support could lead to further bearish momentum.

The first major support level sits at $1,875, and a drop below this level may signal a stronger bearish trend. The next substantial support is around $1,825, and a close below this level could push the price toward the $1,770 support level. In the event of more significant losses, the doors might open for a potential move toward the $1,720 support level.

As for technical indicators, the hourly Moving Average Convergence Divergence (MACD) for ETH/USD indicates weakening momentum in the bearish zone. The Relative Strength Index (RSI) for the pair is currently above the 50 level.

In summary, Ethereum’s price is experiencing a critical phase, with key resistance at $1,920 and vital support at $1,875. Traders and investors will closely monitor these levels to gauge the potential direction of the cryptocurrency’s movement in the coming days.


Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.