BTC / USD
27,189.85
1.85%
(-513.28)
ETH / USD
1,869.81
1.65%
(-31.38)
XRP / USD
0.52
0.46%
(-0)
LTC / USD
89.78
2.75%
(-2.54)
EOS / USD
0.89
2.42%
(-0.02)
BCH / USD
112.90
0.94%
(-1.07)
ADA / USD
0.37
0.87%
(-0)
XLM / USD
0.09
2.02%
(0)
NEO / USD
10.49
2.05%
(-0.22)
XEM / USD
0.03
2.68%
(-0)
DASH / USD
41.62
5.09%
(-2.23)
USDT / USD
1.00
0%
(0)
BNB / USD
306.20
1.7%
(-5.3)
QTUM / USD
2.62
2.78%
(-0.07)
XVG / USD
0.00
5.77%
(-0)
ONT / USD
0.22
5.06%
(-0.01)
ZEC / USD
32.14
5.02%
(-1.7)
STEEM / USD
0.18
3.26%
(-0.01)

Ethereum Climbs To $1,900, Why $2K Could Be Next

0

Ethereum started a major increase above $1,800 against the US Dollar. ETH is rising and might continue to rise towards the $2,000 resistance zone.

  • Ethereum found support near $1,680 and started a fresh increase.
  • The price is now trading above $1,800 and the 100 hourly simple moving average.
  • There was a break above a major bearish trend line with resistance near $1,740 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could continue to rise further higher towards the $1,950 and $2,000 levels.

Ethereum Price Rallies 12%

Ethereum remained well bid above the $1,650 level. ETH formed a base and started a fresh increase above the $1,750 resistance zone. The bulls pumped the price above the $1,800 level.

The price climbed higher and even broke the $1,850 resistance. Finally, there was a move above the $1,900 and the price settled above the 100 hourly simple moving average. A high was formed near $1,919 and the price is now consolidating gains.

It is now trading well above $1,800 and the 100 hourly simple moving average. Ether price is also well above the 23.6% Fib retracement level of the upward move from the $1,655 low to $1,919 high.

Source: ETHUSD on TradingView.com

An immediate resistance on the upside is near the $1,920 level. The first major resistance is near the $1,950 level. A clear move above the $1,950 level could start a steady increase to $2,000. If the bulls remain in action, the price may perhaps rise towards the $2,120 resistance zone in the near term.

Dips Supported in ETH?

If ethereum fails to rise above the $1,920 resistance, it could start a downside correction. An initial support on the downside is near the $1,850 zone. The next major support is near $1,800.

The main support is near the $1,780 level or the 50% Fib retracement level of the upward move from the $1,655 low to $1,919 high, below which there is a risk of a sharp decline. In the stated case, ether price may perhaps decline towards the $1,750 support. Any more losses might call for a test of the $1,700 level.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is now losing momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 65 level.

Major Support Level – $1,780

Major Resistance Level – $1,920

Leave A Reply

Your email address will not be published.