Ethereum price is consolidating below the $1,900 resistance against the US Dollar. Unless there is a close below $1,825, ETH is likely to attempt another up move.

• Ethereum is trading above $1,850.

• The price is trading above $1,870 and the 100 hourly simple moving average.

• There is a key bearish trend line forming with resistance near $1,890 on the hourly chart of ETH/USD (data source from Kraken).

• The pair could start a significant increase if it breaks above $1,890 and $1,900.

Ethereum price remains supported

Ethereum price made another attempt to break out of $1,900. However, ETH failed to clear the $1,900 resistance and remained in a similar range as bitcoin.

There was a bearish reaction below $1,880. A low was formed near $1,862 and the price is currently correcting higher. There was a break above the $1,880 level. The price climbed above the 50% Fib retracement level of the recent decline from the $1,905 swing high to $1,862 low.

Ethereum is currently trading above $1,870 and the 100 hourly simple moving average. An immediate resistance is near $1,890. There is also a key bearish trend line formed with resistance near $1,890 on the hourly chart of ETH/USD.

ETH drops again?

If Ethereum fails to clear the $1,900 resistance, it could start another decline. An initial support on the downside is near the $1,870 level or the 100 hourly simple moving average.

There is also a connecting bullish trend line at $1,870. The first major support is near the $1,845 level, below which the price might revisit the critical support at $1,825. The next major support is near the $1,770 level. If there are further declines, Ether might rise to the $1,720 support level in the near term.

Technical indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently above the 50 level.

Major Support Level – $1,845

Major Resistance Level – $1,900