Key HighlightsETH price is slowly moving higher, but it is currently facing sellers near $940 against the US Dollar. There is a connecting bearish trend line forming with resistance at $940 on the hourly chart of ETH/USD (data feed via SimpleFX). The pair is currently just above the 100 hourly simple moving average and it remains supported near $900. Ethereum price is slowly gaining pace against the US Dollar and Bitcoin. ETH/USD needs to break the $940 resistance to trade further higher. Ethereum Price TrendThere was no downside break below $920 and $900 support levels in ETH price against the US Dollar. The price started a nice upside move and succeeded in trading above the $925 resistance. It also moved above the 23.6% Fib retracement level of the last decline from the $970 high to $895 low. However, there are many resistances on the upside near the $940 and $945 levels. There is also a connecting bearish trend line forming with resistance at $940 on the hourly chart of ETH/USD. The pair is also facing sellers near the 61.8% Fib retracement level of the last decline from the $970 high to $895 low. However, the price is currently just above the 100 hourly simple moving average, but it has to gain momentum above $940 for more gains. A break above the $940 resistance could open the doors for more upsides toward the $970 level. On the downside, an initial support is at $930 and the 100 hourly SMA. Should there be a break below $925, the price could move back towards $900. The overall price action is positive, but the price has to move above $940 to remain in the bullish zone. Hourly MACD – The MACD is slightly in the bullish zone with neutral signs. Hourly RSI – The RSI is currently above the 50 level, but it moving lower with a negative angle. Major Support Level – $900Major Resistance Level – $940 Charts courtesy – SimpleFX Ethereum Price Technical Analysis – Can ETH/USD Hold This? was last modified: March 31st, 2018 by Aayush Jindal