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Ethereum, the second largest cryptocurrency, increased by 12.3% in the last seven days. Interesting fact, Ethereum firmly held his land, supported by An upward trend It started after the net recovery of $ 1,550 that started on Tuesday.
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In the current state of things, the Ethereum price is an important technical phase after having removed the level of resistance of $ 1,799 and fell in its final intraday support area. A new push above $ 1,800 could open the door to $ 1,840 and beyond, while deeper retractions would test three important areas.
Ethereum transforms resistance levels into support
The recent gathering of Ethereum Having it broke the three notable levels of resistance which rejected its price action for most of April. Interestingly, these resistance levels are located at $ 1,590, $ 1,654 and $ 1,703, as indicated by a technical analysis From the action of Ethereum prices on the time graph of the candlestick chronometer on the TradingView platform.
After these eruptions, Ethereum continued to push with the momentum until he met a harder ceiling near the $ 1,800 mark. After having briefly exploited this area, the price experienced a minor rejectionTracing around $ 1,730 before finding support and starting another progressive climb.
As it stands, resistance at $ 1,800 is the following level to beat in the Hope of a fence greater than $ 2,000 Before the end of April. Nevertheless, even if Ethereum does not reach this level, a bullish feeling will always be in place if he manages to hold above the broken resistances, which have now turned to the management of time H1. 
Ethereum could still be optimistic unless $ 1,654 breaks
Ethereum The perspectives remain optimistic As long as the newly recovered levels at $ 1,590, $ 1,654 and $ 1,703 continue to act as reliable support areas. The first area, positioned at $ 1,703, represents a short -term level of hourly support. This area can attract early entries, but it is at high risk and subject to rupture easily.
Under this is the more structural support for $ 1,654, which is also obvious on the table of 4 hours. This level is an average risk area, characterized by a cleaner and sound demand area. It has a higher probability of launching a rebound so tested, and its preservation is important to maintain a short -term biases for Ethereum.
The highest level of support is $ 1,590 and is somewhat at low risk for the start of the school year. He has the most favorable risk ratio, where smart monetary traders are likely to accumulate.
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As long as Ethereum remains greater than $ 1,703, the current upward trend remains valid. Haussier bias remains intact, unless there is a confirmed rupture below $ 1,654. A decrease below the support of $ 1,654 would transfer the short -term perspectives to a neutral or a bearish. On the other hand, a Farm to success above $ 1,800 could be heard towards the next target around $ 1,840 or even more.
Felash star image, tradingView graphic
