More

    Ethereum Surges To New ATH Above $1,900, Why ETH Could Test $2K

    Ethereum broke the $1,850 resistance to continue higher against the US Dollar. ETH price traded to a new all-time high at $1,917 and it remains supported for more upsides.
    Ethereum started a fresh increase above the $1,850 barrier and traded as high as $1,917.
    The price is now trading well above $1,850 and the 100 hourly simple moving average.
    There was a break above a major bearish trend line with resistance near $1,800 on the hourly chart of ETH/USD (data feed via Kraken).
    The pair could correct lower, but the bulls are likely to remain active near $1,880 and $1,850.
    Ethereum Price Breaks Key Hurdle
    Ethereum remained stable above $1,800 and it finally managed to gain strength above the $1,820 and $1,840 resistance levels. A support base was formed near $1,800 before there was a fresh increase.
    More importantly, there was a break above a major bearish trend line with resistance near $1,800 on the hourly chart of ETH/USD. The pair gained pace above the $1,850 resistance and settled nicely above the 100 hourly simple moving average.
    Ether even cleared the $1,900 level and traded to a new all-time high at $1,917. The price is currently consolidating gains near the $1,900 level. An initial support is near the $1,890 level. It is close to the 23.6% Fib retracement level of the recent increase from the $1,801 swing low to $1,917 high.

    Source: ETHUSD on TradingView.com
    On the upside, ether price could clear the $1,917 high and $1,920. A successful break above the recent high is likely to open the doors for a push above the $1,950 level. The next major resistance for the bulls sits at $2,000.
    Fresh Dip in ETH?
    If Ethereum fails to extend its rise above the $1,920 level, there could be a downside correction. The first major support is near the $1,880 level. The next key support is near the $1,850 level. It is close to the 50% Fib retracement level of the recent increase from the $1,801 swing low to $1,917 high.
    The main support is forming near the $1,800 level and the 100 hourly simple moving average. A downside break below the $1,800 support might call for a sharp decline to $1,700.
    Technical Indicators
    Hourly MACD – The MACD for ETH/USD is showing positive signs in the bullish zone.
    Hourly RSI – The RSI for ETH/USD is now well above the 50 level.
    Major Support Level – $1,850
    Major Resistance Level – $1,920

    Related articles

    Comments

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Share article

    Latest articles

    Newsletter

    Subscribe to stay updated.

    bitcoin
    Bitcoin (BTC) $ 39,694.00
    ethereum
    Ethereum (ETH) $ 2,654.43
    tether
    Tether (USDT) $ 1.00
    binance-coin
    Binance Coin (BNB) $ 334.81
    cardano
    Cardano (ADA) $ 1.33
    xrp
    XRP (XRP) $ 0.748825
    usd-coin
    USD Coin (USDC) $ 1.00
    dogecoin
    Dogecoin (DOGE) $ 0.204831
    polkadot
    Polkadot (DOT) $ 18.52
    binance-usd
    Binance USD (BUSD) $ 1.00
    uniswap
    Uniswap (UNI) $ 22.94
    chainlink
    Chainlink (LINK) $ 23.69
    bitcoin-cash
    Bitcoin Cash (BCH) $ 551.00
    litecoin
    Litecoin (LTC) $ 142.93
    solana
    Solana (SOL) $ 33.90
    wrapped-bitcoin
    Wrapped Bitcoin (WBTC) $ 39,722.00
    matic-network
    Polygon (MATIC) $ 1.06
    ethereum-classic
    Ethereum Classic (ETC) $ 51.81
    stellar
    Stellar (XLM) $ 0.280009
    theta-token
    Theta Network (THETA) $ 5.90
    vechain
    VeChain (VET) $ 0.086843
    internet-computer
    Internet Computer (ICP) $ 40.73
    dai
    Dai (DAI) $ 1.00
    filecoin
    Filecoin (FIL) $ 54.92
    compound-usd-coin
    cUSDC (CUSDC) $ 0.022108
    okb
    OKB (OKB) $ 18.81
    terra-luna
    Terra (LUNA) $ 12.06
    tron
    TRON (TRX) $ 0.065248
    cdai
    cDAI (CDAI) $ 0.021595
    monero
    Monero (XMR) $ 235.74
    aave
    Aave (AAVE) $ 325.81
    compound-ether
    cETH (CETH) $ 53.20
    eos
    EOS (EOS) $ 4.08
    ftx-token
    FTX Token (FTT) $ 36.28
    cosmos
    Cosmos (ATOM) $ 12.65
    pancakeswap-token
    PancakeSwap (CAKE) $ 16.13
    amp-token
    Amp (AMP) $ 0.067779
    crypto-com-chain
    Crypto.com Coin (CRO) $ 0.125633
    neo
    NEO (NEO) $ 44.73
    the-graph
    The Graph (GRT) $ 0.668853
    shiba-inu
    Shiba Inu (SHIB) $ 0.000006
    leo-token
    LEO Token (LEO) $ 3.08
    bitcoin-sv
    Bitcoin SV (BSV) $ 144.69
    maker
    Maker (MKR) $ 3,012.72
    tezos
    Tezos (XTZ) $ 3.18
    algorand
    Algorand (ALGO) $ 0.830298
    klay-token
    Klaytn (KLAY) $ 1.04
    celsius-degree-token
    Celsius Network (CEL) $ 6.00
    iota
    IOTA (MIOTA) $ 0.911700
    avalanche-2
    Avalanche (AVAX) $ 13.25