Kraken News: Ethereum Faces Resistance at $1,920; Recovery Stalled?

Ethereum Price Hits Resistance—Will The Recovery Stall Here?

Ethereum price started a recovery wave from the $1,750 zone and is now consolidating near the $1,920 resistance. The price is trading below $1,950 and the 100-hourly Simple Moving Average. A short-term bearish trend line is forming with resistance at $1,920 on the hourly chart. The pair must clear the $1,920 and $1,950 resistance levels to start a decent increase. Ethereum formed a base above the $1,750 level and cleared the $1,800 and $1,820 resistance levels, with a move above the 23.6% Fib retracement level of the downward wave from the $2,150 swing high.

Cardano (ADA) Struggle Persists—Is a Rebound Still Possible?

Cardano price started a fresh decline below the $0.720 zone and is currently correcting some losses. It might face resistance near the $0.7750 level. ADA price started a recovery wave from the $0.650 zone but is still trading below $0.720 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $0.7050 on the hourly chart. The pair could start another increase if it clears the $0.720 resistance zone. In the past few days, Cardano saw a bearish wave below the $0.7750 level, similar to Bitcoin (BTC) and Ethereum (ETH). It declined below the $0.750 and $0.720 support levels and tested the $0.650 zone, forming a low at $0.6495. Recently, the price started a recovery wave, climbing above the $0.6950 level.