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ETH price began to surge from $1,840-$14,000 in a new rise. Now $ETH is building up gains and could look for another increase over $2,000.
- Ethereum started a fresh upward move above the $1,900 zone.
- The price is trading below $2,000 and the 100-hourly Simple Moving Average.
- There is a new bearish trend line forming with resistance at $2,000 on the hourly chart of
$ETH
/USD (data feed via Kraken).
- The pair could start a fresh decline if it stays below the $1,880 zone.
Ethereum Price Remains Above Support
A base was formed by Ethereum price, which traded above the $1,900 resistance (such as Bitcoin), and a lower value of $. During the $1,950 and $2,000 resistance levels of this price, $ETH price rallied above the level of resistance that was expected to be at its lowest.
It even pumped the price above $2,020 by bulls as well as being puffed up by the bull. There was a high of $2,054 before there was an upside correction for the downside. The price dropped below $2,000 and the 50% Fib retracement level of the upward move from $1,836 swing low to $2,054 high before bulls appeared.
Today Ethereum price is under $2,000 and the 100-hourly Simple Moving Average is below $3,000. But if the bulls remain active above $1,900, it could try another increase. The resistance near the $2,00 level is seen as immediate. A new bearish trend line is also emerging with resistance at $2,000 on the hourly chart of $ETH/USD.
The first key resistance is near the $2,050 level of . Another major resistance near the $2,120 level is a close to the next big one. If the price goes towards the $2,155 resistance if it is clearly above that $2.120 resistance? In the future, gains may be boosted by an upside break above the $2,155 area that could call for more gains. The stated example would see Ether move toward the $2,220 resistance zone or even $2.250 in the near term of this statement if it is an important step towards the “advancer” that has been proposed for her to be at least by now.
Downside Continuation In $ETH ?
Ethereum could begin a new decline if it does not clear the $2,000 resistance that Ethereum has been fighting against. First support for the down side is near $1,920 level. First big support is near the $1,880 zone or the 76-year-old . Its upward move from the $1,836 swing low to $2,054 high is 4% Fib retracement level of its downward trend (from 1834 swing down) and $.954 inflation levels for ?
The price could be pushed toward the $1,840 support by a clear move below the 1,880 support. Any further losses could be a tip for the $1,800 area. Support $1,740 could be the top-notch endorsement of .
Technical Indicators
Hourly MACD – The MACD for $ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for $ETH/USD is now below the 50 zone.
Major Support Level – $1,880
Major Resistance Level – $2,050
Thanks for reading Ethereum Price Support Intact but Market Signals Waning Bullish Momentum
