Ethereum Bulls Aiming For $2,000: Price Climbing Above $1,800
• Ethereum price is trading above the $1,800 support zone and the 55 simple moving average (4 hours).
• There is a major bullish trend line forming with support near $1,830 on the 4-hours chart.
• ETH/USD could rise further if it clears the $1,950 resistance zone.
Ethereum Price Analysis
Ethereum price is currently trading above the $1,800 level against the US Dollar. The bulls are gaining traction and pushing the price higher towards key resistances such as $1,950. If Ethereum succeeds in breaking past this level, then it could climb to levels of up to $2,000 or higher.
Major Bullish Trend Line
There is a major bullish trend line forming with support near $1,830 on the 4-hours chart (data feed from Coinbase). This indicates that if Ethereum stays above this level then it might be able to continue its upwards trajectory and break past key resistances such as $1,950 and possibly even hit new heights of around $2,000 or more.
Immediate resistance on the upside for Ethereum is near the $1,920 level. The next major resistance is near the $1950 zone and last swing high. A clear move above this level could send prices soaring towards targets of up to$2,000 or more in the near term.
On Ethereum’s downside there lies initial support at around$1850 which coincides with boththe 50% Fib retracement level ofthe upward move fromthe$1763 swing low tothe$1943 high aswell asthe55 simple moving average (4 hours). In addition tothis thereisalso amajor bullish trendline formingwithsupportnear$1830onthe4-hourschartwhich actsasfurthersupportshouldEthereumpricefallbelowtheselevelsinthenearterm.
Overall it appears that Ethereum’sprice hasanupsidepotentialgainingstrengthabovethe$1800levelandthemomentumcouldcarryitpastkeyresistancezonesofup to$1950andsubsequentlytolevelsashighas$2000orhigherin theneartermassuchitisimportantthatinvestorsmonitorkeyresistanceandsupportlevelstokeepabreastofthelatestdevelopmentsinthemarketplace.