The price of Ethereum has surged over 5% and crossed the $1,850 resistance level against the US Dollar. ETH is currently trading above $1,850 and the 100-hourly Simple Moving Average after breaking above a rising channel with resistance near $1,880.

The next major resistance levels are at $1,920 and $2,000, and a clear move above $2,000 could trigger a strong increase.

However, if ETH fails to clear the $1,925 resistance, it may start a downside correction with initial support at $1,900 and major support levels at $1,840 and $1,800. The hourly MACD is now losing momentum in the bullish zone, while the hourly RSI is above the 50 level.