Ethereum Price Hovers Near Daily Pivot Point as Resistance Level Looms

Ethereum's price is currently trading near $1,905-$1,918, sitting almost exactly on its daily pivot point. This precision often indicates that the market is waiting for a trigger to move forward.

The momentum built during Ethereum's recent climb has been used up, as shown by the MACD histogram dropping to zero.

Despite this, Ethereum's Relative Strength Index is at 56, which is a neutral reading. This means the coin still has room to move higher and isn't overbought.

A key resistance level sits at $1,967.99. A daily close above that price could open a path toward $2,050 and then $2,117, which lines up with the 200-day moving average.