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On Wednesday, Ethereum (ETH) decreased by 0.37%. Tuesday saw ETH lose 0.11% and close the day at $1,872. ETH crossed the $1,900 handle for the second time in six sessions despite the negative session.

Bitcoin Price Movement

ETH was down 0.11% to $1,870 this morning. ETH rose to an early high of $1,876 before dropping to a low of $1,864 during the day's range-bound opening.

The Daily Chart

ETH/USD was shown to be hovering below the bottom boundary of the $1,930–1,900 resistance zone on the Daily Chart.

ETH/USD is currently trading above both the 50-day ($1,855) and 200-day ($1,761) EMAs, indicating both short- and long-term bullish momentum.

Notably, bullish momentum was mirrored by the 50-day EMA's wider distance from the 200-day EMA.

The 14-Daily RSI reading of 50.53 indicated a moderately positive outlook that was in line with the 50-day and 200-day EMAs. A breakout from the $1,900–1,930 resistance zone with a target price of $1,950 is strongly supported by the RSI.

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