Ethereum Holds Key Support, Why ETH Must Clear This Hurdle

Ethereum

Ethereum is still above the $1,720 support against the US Dollar. ETH must clear $1,820 and $1,850 to start a steady increase in the near term.

Ethereum is still above the main $1,720 support zone.
The price is now trading below $1,800 and the 100 hourly simple moving average.
There is a crucial bearish trend line forming with resistance near $1,800 on the hourly chart of ETH/USD (data feed via Kraken).
The pair might start a strong increase if there is a clear move above $1,820 and $1,850.

Ethereum Price Tests Key Support
Ethereum attempted a fresh increase above the $1,820 resistance zone. However, there was no upside continuation and the price stayed below the $1,850 resistance zone.
A high was formed near $1,831 and the price moved lower. There was a break below the $1,800 support zone and the 100 hourly simple moving average. A low is formed near $1,767 and the price stayed above the key $1,750 support zone.
Ether is now consolidating above the $1,750 support. It climbed above the 23.6% Fib retracement level of the recent decline from the $1,831 swing high to $1,767 low.
On the upside, an initial resistance is near the $1,800 level. There is also a crucial bearish trend line forming with resistance near $1,800 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the recent decline from the $1,831 swing high to $1,767 low.

Source: ETHUSD on TradingView.com
The next major resistance is near the $1,820 level. The main resistance is still near the $1,850 level. A clear move above the $1,850 resistance might start a strong increase. The next major resistance is near the $1,920 level.
Downside Break in ETH?
If ethereum fails to rise above the $1,820 resistance, it could continue to move down. An initial support on the downside is near the $1,765 zone.
The next major support is near the $1,720 level. A clear move and break below the $1,720 support could start a major decline. In the stated case, the price could slide towards the $1,650 support zone in the near term.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is now losing momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now just near the 50 level.
Major Support Level – $1,720
Major Resistance Level – $1,820

bitcoin
Bitcoin (BTC) $ 66,545.83
ethereum
Ethereum (ETH) $ 3,252.13
tether
Tether (USDT) $ 0.999888
bnb
BNB (BNB) $ 607.16
solana
Solana (SOL) $ 157.31
usd-coin
USDC (USDC) $ 1.00
staked-ether
Lido Staked Ether (STETH) $ 3,251.26
xrp
XRP (XRP) $ 0.547643
dogecoin
Dogecoin (DOGE) $ 0.162027
the-open-network
Toncoin (TON) $ 5.85
cardano
Cardano (ADA) $ 0.499699
shiba-inu
Shiba Inu (SHIB) $ 0.000027
avalanche-2
Avalanche (AVAX) $ 39.04
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 66,621.85
polkadot
Polkadot (DOT) $ 7.46
bitcoin-cash
Bitcoin Cash (BCH) $ 506.01
tron
TRON (TRX) $ 0.113558
chainlink
Chainlink (LINK) $ 15.40
near
NEAR Protocol (NEAR) $ 6.93
matic-network
Polygon (MATIC) $ 0.751801
internet-computer
Internet Computer (ICP) $ 14.74
litecoin
Litecoin (LTC) $ 87.09
uniswap
Uniswap (UNI) $ 8.12
leo-token
LEO Token (LEO) $ 5.72
dai
Dai (DAI) $ 0.999819
hedera-hashgraph
Hedera (HBAR) $ 0.129058
blockstack
Stacks (STX) $ 2.90
aptos
Aptos (APT) $ 9.86
first-digital-usd
First Digital USD (FDUSD) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 27.97
mantle
Mantle (MNT) $ 1.15
crypto-com-chain
Cronos (CRO) $ 0.132252
render-token
Render (RNDR) $ 9.14
filecoin
Filecoin (FIL) $ 6.45
immutable-x
Immutable (IMX) $ 2.40
cosmos
Cosmos Hub (ATOM) $ 8.83
stellar
Stellar (XLM) $ 0.119412
dogwifcoin
dogwifhat (WIF) $ 3.38
okb
OKB (OKB) $ 55.56
pepe
Pepe (PEPE) $ 0.000008
bittensor
Bittensor (TAO) $ 494.00
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 3,160.01
arbitrum
Arbitrum (ARB) $ 1.19
vechain
VeChain (VET) $ 0.042198
xtcom-token
XT.com (XT) $ 3.05
kaspa
Kaspa (KAS) $ 0.127799
the-graph
The Graph (GRT) $ 0.292535
maker
Maker (MKR) $ 2,984.07
optimism
Optimism (OP) $ 2.56
fetch-ai
Fetch.ai (FET) $ 2.51