TA: Ethereum Gearing For Another Lift-Off to $2k: Rally Isn’t Over Yet

by Anvesh Reddy
7 ways to make with crypto

TA: Ethereum Gearing For Another Lift-Off to $2k: Rally Isn't Over Yet

Ethereum gained pace and cleared the $1,800 resistance against the US Dollar. ETH is rising and might continue to rise towards the $2,000 resistance zone.

  • Ethereum remained well bid above the $1,800 support and climbed further higher.
  • The price is now trading above $1,820 and the 100 hourly simple moving average.
  • There is a key bullish trend line forming with support near $1,880 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could continue to rise further higher towards the $1,980 and $2,000 levels.

Ethereum Price Eyes More Upsides

Ethereum remained well bid above the $1,750 level. ETH gained pace after there was a clear move above the $1,800 resistance zone. It even climbed above the $1,880 level.

There was a spike above the $1,920 resistance and the price traded as high as $1,943. Recently, there was a downside correction below the $1,900 level. Ether price tested the 23.6% Fib retracement level of the recent increase from the $1,655 low to $1,943 high.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

However, the price remained well bid above the $1,880 level. There is also a key bullish trend line forming with support near $1,880 on the hourly chart of ETH/USD.

TA: Ethereum Gearing For Another Lift-Off to $2k: Rally Isn't Over Yet

Ether price is now trading above $1,820 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,920 level. The first major resistance is near the $1,940 level. A clear move above the $1,940 level could start a steady increase to $2,000. If there are more upsides, the price may perhaps rise towards the $2,120 resistance zone in the near term.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Get 110 USDT Futures Bonus for FREE!

Dips Limited in ETH?

If ethereum fails to rise above the $1,940 resistance, it could start a downside correction. An initial support on the downside is near the $1,880 zone and the trend line. The next major support is near $1,855.

The main support is near the $1,800 level or the 50% Fib retracement level of the recent increase from the $1,655 low to $1,943 high, below which there is a risk of more losses. In the stated case, ether price may perhaps decline towards the $1,765 support. Any more losses might call for a test of the $1,720 level.

Technical Indicators

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

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

Hourly RSIThe RSI for ETH/USD is now above the 50 level.

Major Support Level – $1,800

Major Resistance Level – $1,940

7 ways to make money in crypto

You may also like

Leave a Comment

The latest news about crypto industry at Coingraph. Most recent news about bitcoin, altcoin, blockchain, mining, cryptocurrency prices and more.

 

Email: [email protected]

© 2022 Coingraph.org – All rights reserved.