Ethereum

Ethereum Regains Strength, Why ETH Could Rally Above $2K

Ethereum started a fresh increase after the bulls defended $1,700 against the US Dollar. ETH price is likely to continue higher above the main $2,000 resistance.

Ethereum is showing positive signs above the $1,850 and $1,900 resistance levels.
The price is now well above $1,900 and the 100 hourly simple moving average.
There was a break above a major bearish trend line with resistance near $1,840 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is likely to clear the $2,000 barrier and it could accelerate higher in the near term.

Ethereum Price is Gaining Pace
Ethereum remained well bid above the last swing low near $1,700. ETH formed a base above $1,700 and it started a major increase. The bulls were able to push the price above the $1,850 resistance zone.
There was also a break above a major bearish trend line with resistance near $1,840 on the hourly chart of ETH/USD. The pair climbed above the 61.8% Fib retracement level of the of the key decline from the $2,038 swing high to $1,715 low.
It is now well above $1,900 and the 100 hourly simple moving average. Ether price is consolidating above the 76.4% Fib retracement level of the of the key decline from the $2,038 swing high to $1,715 low.

Source: ETHUSD on TradingView.com
It seems like the price could continue to rise above $1,980. The next key resistance is near the $2,000 zone. Any more gains could set the pace for a move towards the $2,115 level. It is near the 1.236 Fib extension level of the of the key decline from the $2,038 swing high to $1,715 low. An intermediate resistance could be near the $2,050 level.
Fresh Decline in ETH?
If Ethereum fails to clear the $2,000 and $2,050 resistance levels, it could start a fresh decline. An initial support on the downside is near the $1,920 level.
The first major support is now forming near the $1,875 level and the 100 hourly SMA. A downside break below the $1,875 zone could lead the price further lower. In the stated case, the price could move down further towards the $1,800 level.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently well above the 60 level.
Major Support Level – $1,875
Major Resistance Level – $2,000

bitcoin
Bitcoin (BTC) $ 26,587.12
ethereum
Ethereum (ETH) $ 1,591.03
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 210.65
xrp
XRP (XRP) $ 0.509374
usd-coin
USDC (USDC) $ 1.00
staked-ether
Lido Staked Ether (STETH) $ 1,591.39
dogecoin
Dogecoin (DOGE) $ 0.061515
cardano
Cardano (ADA) $ 0.245499
solana
Solana (SOL) $ 19.54
the-open-network
Toncoin (TON) $ 2.21
tron
TRON (TRX) $ 0.084190
polkadot
Polkadot (DOT) $ 4.04
matic-network
Polygon (MATIC) $ 0.521991
litecoin
Litecoin (LTC) $ 64.70
shiba-inu
Shiba Inu (SHIB) $ 0.000007
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 26,531.11
bitcoin-cash
Bitcoin Cash (BCH) $ 207.66
chainlink
Chainlink (LINK) $ 7.11
dai
Dai (DAI) $ 1.00
true-usd
TrueUSD (TUSD) $ 0.999208
leo-token
LEO Token (LEO) $ 3.70
uniswap
Uniswap (UNI) $ 4.27
avalanche-2
Avalanche (AVAX) $ 8.98
stellar
Stellar (XLM) $ 0.113263
monero
Monero (XMR) $ 143.18
okb
OKB (OKB) $ 42.90
binance-usd
Binance USD (BUSD) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 15.26
cosmos
Cosmos Hub (ATOM) $ 7.10
hedera-hashgraph
Hedera (HBAR) $ 0.050444
filecoin
Filecoin (FIL) $ 3.26
crypto-com-chain
Cronos (CRO) $ 0.050667
lido-dao
Lido DAO (LDO) $ 1.48
internet-computer
Internet Computer (ICP) $ 2.95
quant-network
Quant (QNT) $ 90.04
mantle
Mantle (MNT) $ 0.396555
aptos
Aptos (APT) $ 5.31
vechain
VeChain (VET) $ 0.016832
maker
Maker (MKR) $ 1,269.67
arbitrum
Arbitrum (ARB) $ 0.821184
near
NEAR Protocol (NEAR) $ 1.11
optimism
Optimism (OP) $ 1.29
kaspa
Kaspa (KAS) $ 0.046960
rocket-pool-eth
Rocket Pool ETH (RETH) $ 1,727.46
aave
Aave (AAVE) $ 62.27
the-graph
The Graph (GRT) $ 0.086946
algorand
Algorand (ALGO) $ 0.101707
whitebit
WhiteBIT Coin (WBT) $ 5.31
usdd
USDD (USDD) $ 0.987514