Ethereum Faces Key Resistance as Price Targets $1,955

Ethereum's price has been on an upward trajectory in recent days, thanks to improved global risk sentiment and reduced tensions between the US and Iran.

The cryptocurrency has recovered from its swing low of $1,512 and is now trading near $1,771, above its 20-day exponential moving average at $1,721.

However, Ethereum still faces resistance below its 50-day EMA at $1,798, which could determine the next directional move for the asset.

The Bollinger Band %B reading near 0.77 suggests that Ethereum trades in the upper portion of its recent range without entering overbought territory.