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- Ethereum (ETH) is extending its recovery, trading near $1,800, a key technical area.
- Despite the rapid increase, ETH is still below the 50-day, 100-day, and 200-day EMA, ensuring that many people are cautious.
- Technical indicators, including the RSI and the MACD, indicate that the bullish trend is strengthening.
The price of Ethereum is approaching $1,800 as interest rates increase
Ethereum (ETH) continued its recovery on Friday, rising to around $1,790 as buyers pushed the cryptocurrency closer to the key level of $1,800.
Despite the recent short-term gains, Ethereum is still below several major moving averages, indicating that the broader risk has not shifted definitively in the bulls’ favor.
Ethereum’s recovery is approaching a major technical challenge at the 50-day Exponential Moving Average (EMA) near $1,800.
The stock continues to trade below all of its key indicators, including the 50-day EMA at $1,800, the 100-day EMA ($1,956), and the 200-day EMA ($2,235).
This group of movers continues to grow and shows that the broader market remains vulnerable despite the recent rebound.
Momentum Indicators Turn Into Incentives
Technical indicators point to an upward trend. The Relative Strength Index (RSI) is hovering around 60, moving above the 50 level and indicating that buyers are regaining control.
At the moment, the Moving Average Convergence Divergence (MACD) remains in positive territory, showing strengthening momentum as Ethereum tries to strengthen its recent recovery.
Although these two indicators support a short-term bullish trend, a decisive break above major resistance levels is still needed to establish a strong bullish trend.
That resistance remains the 50-day EMA near $1,800. A successful daily close above this level would allow Ethereum to follow the 100-day EMA near $1,956, followed by the necessary $2,000 resistance.
Further, the 200-day EMA near $2,236 represents the next major hurdle for the bulls.
At the bottom, the first installment is about $1,385. A break below this range would indicate new bearish pressure and revive the major bearish trend.
As long as Ethereum is still above its main support while the indicators continue to change, the opportunity to increase again—and eventually break above the $1,800 resistance zone—remains.
