NewsBTC13 minutes ago

Published on July 26, 2023 04:52 GMT+00:00edited on July 26, 2023 04:54 GMT+00:00

Ethereum price is recovering from the $1,830 zone against the US Dollar. ETH could extend its decline if it stays below the $1,880 resistance.

• Ethereum is slowly moving higher from the $1,830 zone.
• The price is trading below $1,870 and the 100-hourly Simple Moving Average.
• There is a short-term bullish rising channel forming with support near $1,850 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could struggle to rise above the $1,870 and $1,880 resistance levels.

Ethereum Price Faces Resistance

Ethereum’s price extended its decline below the $1,900 level. ETH even traded below the $1,850 level to move into a bearish zone, similar to Bitcoin.

A new weekly low is formed near $1,832 and the price is now attempting a recovery wave. There was a minor increase …