Ethereum Price Reverses Course, Indicating a Potential Bull Run Towards $2000

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Ethereum Price Reverses Course, Indicating a Potential Bull Run Towards $2000

Ethereum Price Towards $2000 - The price of Ethereum against the US Dollar began a new uptrend over the $1880 resistance. ETH is on the rise and may s

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Ethereum Price Towards $2000 – The price of Ethereum against the US Dollar began a new uptrend over the $1880 resistance. ETH is on the rise and may soon try to reach $2000 in price.

Ethereum Price Bounces Back, Regaining Lost Ground

The price of Ethereum remained strongly bid above the $1,800 support region. Similar to Bitcoin at $28,800, ETH began a respectable upward movement and was able to overcome the $1,850 resistance.

On the hourly chart of ETH/USD, there was a break above a crucial bearish trend line with resistance close to $1,860. Even so, they surpassed $1,900. Near $1,915, a high has formed, and the price is currently consolidating gains. It is currently trading above both the 100-hour Simple Moving Average and $1,880.

The recent advance from the $1,843 swing low to the $1,915 high is currently being beautifully retraced by the 23.6% Fib line, which is where Ethereum is trading nicely. Ahead of $1,915 is where resistance is currently located.

Near $1,940, the next significant resistance appears to be forming. Ethereum price could move in the direction towards the $2000 resistance with an upward break above the $1,940 resistance. Additional gains might push Ether closer to the $2,050 resistance. Ether might possibly make an attempt to move toward the $2,120 resistance in the scenario given.

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Ethereum may begin a downward correction if it is unable to overcome the $1,915 resistance. Near $1,890 is where initial support on the downside is located.

The 50% Fib retracement level of the most recent rise from the $1,843 swing low to the $1,915 high serves as the next significant support, below which ether price may fall to the 100 hourly SMA. In the near future, if there are any additional losses, the price can go in the direction of $1,840.

Ethereum Price Today

With an active price of $1,903.06 USD and a 24-hour trading volume of $8,488,195,438 USD, Ethereum is now trading. Our real-time ETH to USD conversion price is updated. On the previous day, Ethereum increased by 2.17%. With a live market cap of $229,082,393,973 USD, CoinMarketCap currently ranks #2. There are 120,375,862 ETH coins in circulation.

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