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HomeAltcoin NewsEthereum Price Analysis: ETH Could Rally Above $2,000

Ethereum Price Analysis: ETH Could Rally Above $2,000

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  • Ethereum price is moving higher above the $1,880 resistance against the US Dollar.
  • ETH price is now trading above $1,880 and the 55 simple moving average (4 hours).
  • There is a major bullish trend line forming with support near $1,930 on the 4-hours chart (data feed from Coinbase).
  • The pair could climb further if it stays above the $1,900 support zone.

Ethereum price is rising above the $1,880 level against the US Dollar. ETH/USD could rise further if it clears the $2,000 resistance zone.

Ethereum Price Analysis

In the past few sessions, Ethereum saw a decent increase above the $1,820 level against the US Dollar. ETH price was able to gain pace for a move above the $1,880 level and the 55 simple moving average (4 hours).

The bulls even pushed the price above the $1,920 resistance zone. A high is formed near $1,976 and the price is now consolidating gains. It is trading above the $1,950 level. It is also above the 23.6% Fib retracement level of the upward wave from the $1,823 swing low to the $1,976 high.

Ether’s price is showing positive signs above $1,880 and the 55 simple moving average (4 hours). There is also a major bullish trend line forming with support near $1,930 on the 4-hours chart.

Immediate resistance on the upside is near the $1,975 level. The next major resistance is near the $2,000 zone. A clear move above the $2,000 level could send the price toward $2,080. Any more gains could even send the price toward the $2,200 resistance zone or $2,250 in the near term.

On the downside, initial support is near the $1,930 level and the trend line. The next major support is now near the $1,900 level or the 50% Fib retracement level of the upward wave from the $1,823 swing low to the $1,976 high.

A break below the $1,900 support could push the price to $1,825. Any more losses could lead the price towards $1,750.

Ethereum Price
Ethereum Price

Looking at the chart, Ethereum’s price is trading above the $1,880 zone and the 55 simple moving average (4 hours). Overall, Ether’s price could climb further if it stays above the $1,900 support zone.

Technical indicators

4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is now above the 50 level.

Key Support Levels – $1,930, followed by the $1,900 zone.

Key Resistance$ Levels – $2,000 and $2,080.

Aayush Jindal
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

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