Ethereum Price Restarts Increase As Indicators Suggest Rally To $1,950 🔥

#Ethereum started a downside correction below the $1,800 level. $ETH tested the $1,750 support where the bulls emerged. A low was formed near $1,756 and the price started a fresh increase, like #BTC $BTC .

There was a move above the $1,780 and $1,785 resistance levels. The price was able to climb above the 50% Fib retracement level of the downside correction from the $1,849 swing high to the $1,756 low. There is also a key bullish trend line forming with support near $1,795 on the hourly chart of #ETH /USD.

Ethereum is now trading above $1,780 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $1,825 level. It is close to the 76.4% Fib retracement level of the downside correction from the $1,849 swing high to the $1,756 low.

The first major resistance is near the $1,850 zone. A close above the $1,850 resistance could spark another rally. The next key resistance is near $1,880, above which the price could accelerate higher. In the stated case, Ether could rise toward the $1,950 level. Any more gains might open the doors for a move toward $2,000.