Ethereum (ETH) is trading around $1,911 within the uptrend channel that has formed since early August, and we expect it to continue rising in the coming hours until the price reaches the upper band of the uptrend channel around $1,985. It could even reach the psychological level of $2,000.

If the price consolidates above the 21 SMA at $1,913 in the coming hours, the outlook will remain positive, as technically we could expect the uptrend to continue, potentially reaching levels of 1,950 and $1,985.

Conversely, if Ethereum settles below $1,900, breaks decisively out of the uptrend channel, and consolidates below the 21 SMA, the outlook could turn bearish, and we could expect ETH to reach the 200 EMA around $1,863.

The Eagle indicator could reach overbought levels in the coming days, and we could expect Ethereum to encounter strong resistance around $1,950—this zone coincides with the highs of July 28 and July 25, which could represent strong resistance, and we reckon a technical correction in the coming days.