The price of Ethereum has seen a slight increase from $1,840 against the US Dollar, but is still facing strong resistance at the $1,875 level and the 100 hourly SMA. Despite consolidating losses above the $1,820 support zone, the price is still trading below $1,875 and the 100-hourly Simple Moving Average.

A break above a major bearish trend line with resistance near $1,850 on the hourly chart of ETH/USD has occurred, but the pair could struggle to clear the $1,875 and $1,880 resistance levels. If Ethereum fails to clear the $1,875 resistance, it could start another decline, with initial support on the downside near the $1,820 level or the recent low.