Ethereum Skyrockets: Potential Surge Beyond $2,000 Unleashed!
Key Points:
- Ethereum price rises above $1,960, outperforming Bitcoin.
- Positive signs indicate potential rise towards $2,000 resistance.
- Immediate resistance at $1,960, next major resistance at $2,000.
Ethereum’s price has been performing well lately and has remained above the support zone of $1,820.
It seems that the cryptocurrency has formed a support base and has started a fresh increase above the $1,880 level, which is a positive sign for investors. In fact, it has even outperformed Bitcoin.
Recently, there was a clear move above the $1,920 resistance zone, which is another indication of the cryptocurrency’s positive momentum. In addition, there was a break above a key bearish trend line with resistance near $1,925 on the hourly chart of ETH/USD, which further confirmed the bullish trend. As a result, the price even traded to a new multi-day high at $1,960 and is currently consolidating gains.
Ethereum is now showing signs that it might continue to rise towards the $2,000 resistance. It is currently trading above $1,900 and the 100-hourly Simple Moving Average, and is also above the 23.6% Fib retracement level of the upward move from the $1,889 swing low to the $1,960 high. This indicates that the cryptocurrency is in a strong position to continue its upward momentum.
If Ethereum manages to clear the $1,960 resistance or $1,980, it could potentially start a fresh rally. The next resistance sits near $2,050, above which the price could rise toward the $2,120 level. There is also a possibility that any more gains could send Ether toward the $2,220 resistance. However, if the cryptocurrency fails to clear the $1,960 resistance or $1,980, it could start a downside correction. In this case, the initial support on the downside is near the $1,930 level, followed by the major support near the $1,920 level, which is close to the 61.8% Fib retracement level of the upward move from the $1,889 swing low to the $1,960 high.
The first major support is near $1,900 and the 100-hourly Simple Moving Average, is a strong support level. If there is a move below $1,900, the price could drop toward $1,880. Any more losses may perhaps send the price toward the $1,840 support. Overall, Ethereum’s performance is positive and investors can expect more gains in the future.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu New
Author
Ethereum
Ethereum Skyrockets: Potential Surge Beyond $2,000 Unleashed!
Key Points:
- Ethereum price rises above $1,960, outperforming Bitcoin.
- Positive signs indicate potential rise towards $2,000 resistance.
- Immediate resistance at $1,960, next major resistance at $2,000.
Ethereum’s price has been performing well lately and has remained above the support zone of $1,820.
It seems that the cryptocurrency has formed a support base and has started a fresh increase above the $1,880 level, which is a positive sign for investors. In fact, it has even outperformed Bitcoin.
Recently, there was a clear move above the $1,920 resistance zone, which is another indication of the cryptocurrency’s positive momentum. In addition, there was a break above a key bearish trend line with resistance near $1,925 on the hourly chart of ETH/USD, which further confirmed the bullish trend. As a result, the price even traded to a new multi-day high at $1,960 and is currently consolidating gains.
Ethereum is now showing signs that it might continue to rise towards the $2,000 resistance. It is currently trading above $1,900 and the 100-hourly Simple Moving Average, and is also above the 23.6% Fib retracement level of the upward move from the $1,889 swing low to the $1,960 high. This indicates that the cryptocurrency is in a strong position to continue its upward momentum.
If Ethereum manages to clear the $1,960 resistance or $1,980, it could potentially start a fresh rally. The next resistance sits near $2,050, above which the price could rise toward the $2,120 level. There is also a possibility that any more gains could send Ether toward the $2,220 resistance. However, if the cryptocurrency fails to clear the $1,960 resistance or $1,980, it could start a downside correction. In this case, the initial support on the downside is near the $1,930 level, followed by the major support near the $1,920 level, which is close to the 61.8% Fib retracement level of the upward move from the $1,889 swing low to the $1,960 high.
The first major support is near $1,900 and the 100-hourly Simple Moving Average, is a strong support level. If there is a move below $1,900, the price could drop toward $1,880. Any more losses may perhaps send the price toward the $1,840 support. Overall, Ethereum’s performance is positive and investors can expect more gains in the future.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu New
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