Ethereum Price Back Above $2,000—Breakout or Just a Temporary Bounce?

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Ethereum price started a recovery wave above the $2,000 zone. ETH is now consolidating and facing hurdles near the $2,100 resistance. Ethereum started a recovery wave above the $2,000 level. The price is trading above $2,020 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $2,000 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,080 and $2,100 resistance levels to start a decent increase. Ethereum Price Recovers Further Ethereum price formed a base above the $1,850 level and started a recovery wave, like Bitcoin . ETH was able to clear the $1,920 and $1,950 resistance levels. The bulls pushed the price above the $2,000 level. Finally, the price tested the $2,100 zone. A high was formed at $2,104 and the price started a downside correction. There was a move below the $2,080 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $1,980 swing low to the $2,104 high. Ethereum price is now trading above $2,020 and the 100-hourly Simple Moving Average . There is also a connecting bullish trend line forming with support at $2,000 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $2,080 level. The next key resistance is near the $2,100 level. The first major resistance is near the $2,120 level. A clear move above the $2,120 resistance might send the price toward the $2,200 resistance. Source: ETHUSD on TradingView.com An upside break above the $2,200 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,250 resistance zone or even $2,320 in the near term. Are Dips Supported In ETH? If Ethereum fails to clear the $2,100 resistance, it could start another decline. Initial support on the downside is near the $2,040 level. The first major support sits near the $2,025 zone and the 61.8% Fib retracement level of the upward move from the $1,980 swing low to the $2,104 high. A clear move below the $2,025 support might push the price toward the $2,000 support. Any more losses might send the price toward the $1,950 support level in the near term. The next key support sits at $1,880. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,000 Major Resistance Level – $2,100