Ethereum

Convergence

altFINS

<p><strong>Ethereum (ETH) is currently trading around the $1,600 mark as the price struggles to break above this key zone.</strong></p> 
<p>According to the materials provided, Ethereum appears to be trading in a Falling Wedge pattern. A Falling Wedge is typically a bullish pattern, signaling that selling pressure is decreasing and the downtrend could reverse. When the price breaks above the upper trendline of the wedge, it often continues trending higher.</p> 
<p>The materials suggest waiting for a definitive breakout above $1,600 before entering any bullish positions, as this would indicate buyers have absorbed the supply from sellers. The next key resistance levels to watch are $1,800 (previous support) and $2,000.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-572-1024x573.png" alt="" class="wp-image-343895" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-572-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-572-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-572-768x430.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-572-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-572-2048x1147.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-572-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-572-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-572-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-572-788x441.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-572.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p><em>Source: </em><strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p> 
<p>Looking at the momentum indicators, the MACD (Moving Average Convergence Divergence) line is above the signal line, which is bullish. However, the RSI (Relative Strength Index) is below 45, indicating weakening momentum. The declining MACD histogram bars also point to waning bullish momentum currently.</p> 
<p>The overall trend across short, medium and long-term timeframes remains in a downtrend, according to altFINS analytics cited in the materials.</p> 
<p>In terms of support, Ethereum has found buying interest around $1,600 recently. Below that, the next key support zone is around $1,500.</p> 
<h2 class="wp-block-heading" id="is-2000-in-sight-for-eth">Is $2000 In Sight for ETH?</h2> 
<p>Given the current trading patterns and technical indicators, the possibility of Ethereum (ETH) breaking the $2,000 mark seems plausible, especially considering the Falling Wedge pattern, which is typically a bullish signal. </p> 
<p>However, the market is showing mixed signals with the MACD line being above the signal line, indicating a bullish scenario, contrasted by the RSI and declining MACD histogram bars suggesting weakening momentum. The prevailing downtrend across various timeframes also adds a layer of uncertainty to the potential upward movement of ETH.</p> 
<p>The key is to monitor the $1,600 and $1,800 levels closely for a definitive breakout, which would signify a strong buying pressure overcoming the selling pressure, potentially leading to a rally towards the $2,000 mark. The break above $2,000 would largely depend on the sustained buying interest and positive market momentum, and until then, it remains a critical level of resistance.</p> 
<p>To summarize, Ethereum looks poised for a potential bullish breakout above $1,600 if buying pressure continues to increase. This could propel ETH towards resistance around $1,800. However, momentum indicators are showing mixed signals. Traders may want to wait for a convincing breakout before going long.</p> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a> 
   </div> 
   <div class="product-summary col_item mobileblockdisplay"> 
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"> <strong>74% of retail CFD accounts lose money.</strong> 
    </div> 
    <div class="buttons_col mb25 rh_big_btn_inline"> 
     <div class="priced_block clearfix"> 
      <div> <a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc"> <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc. 
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/ethereum-price-analysis-can-eth-finally-break-above-2000/">Ethereum Price Analysis – Can ETH Finally Break Above $2,000?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Ethereum Price Analysis – Can ETH Finally Break Above $2,000?

Table of Contents

CaptainAltcoin

Other articles published on Sep 27, 2023

Tree-Hugging AI to the Rescue of Brazilian Amazon

Why is Automotive Stocks Like Fisker Declining To New Lows?

XRP Death Cross: End of the Bull Run or a Buying Opportunity?

How powerful is AI automated trading? ATPBot supercomputer and massive strategies will show you

Signal CEO Meredith Whittaker Warns: AI Is a Surveillance Technology Threatening Privacy

Religious Leaders Role in Shaping AI in Worship

Join our free newsletter for daily crypto updates!