Daily Price Outlook
* Ethereum faces a decline, struggling to surpass $2,000 and entering a bearish zone like Bitcoin, with current price around $1,843.
* Breaking above $1,915 resistance could lead to a surge towards $1,940 and possibly $2,000 or $2,050.
* Failure to clear $1,900 could result in further price drops, with support levels at $1,840, $1,800, and potentially $1,740 or $1,700.
Ethereum's struggle to surpass the $2,000 mark led to a decline, entering a bearish zone like Bitcoin. Currently, ETH's price hovers around $1,843, with resistance forming near $1,900 on the hourly chart. Immediate resistance lies at $1,890, close to the 50% Fib retracement level of the recent drop.
If Ethereum can break above $1,915, it could surge towards $1,940 and potentially reach $2,000 or $2,050. However, if it fails to clear $1,900, the price might continue to drop, with support levels at $1,840, $1,800, and possibly $1,740 or $1,700.
Ethereum - Trade Idea
Entry Price – Sell Below 1880
Stop Loss – 1910
Take Profit – 1845
Risk to Reward – 1 : 1.17
Profit & Loss Per Standard Lot = +$317/ -$270
Profit & Loss Per Micro Lot = +$31.7/ -$27
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