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The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/eth-price-analysis-ethereum-eyes-2000-with-a-channel-break/">ETH Price Analysis: Ethereum Eyes $2000 With A Channel Break!</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
With Bitcoin finding a fresh breeze of bullish momentum, <a href="https://coinpedia.org/information/market-price-prediction-ethereum-2019/">Ethereum</a> takes the scenic route to the exit of the bear trend. The ETH price breaks above the falling channel by making a bullish reversal to abruptly end the negative cycle.&nbsp; 
However, the uptrend will have to face multiple supply spots filling the Ethereum daily chart before reclaiming the $2000 mark.&nbsp; 
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 <img decoding="async" width="1024" height="487" src="https://image.coinpedia.org/wp-content/uploads/2023/09/29122405/ETHUSD_2023-09-29_12-23-57-1024x487.png" alt="" class="wp-image-233550" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/29122405/ETHUSD_2023-09-29_12-23-57-1024x487.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/29122405/ETHUSD_2023-09-29_12-23-57-300x143.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/29122405/ETHUSD_2023-09-29_12-23-57-768x365.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/29122405/ETHUSD_2023-09-29_12-23-57-1536x730.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/29122405/ETHUSD_2023-09-29_12-23-57-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/29122405/ETHUSD_2023-09-29_12-23-57.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
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Looking at the larger trend, most ETH price trend remains in a correction phase after sharp bullish moves. The recent correction trend took the shape of a falling channel pattern, accounting for a 23% drop at maximum.&nbsp; 
However, with the market-wide recovery, Ethereum takes a bullish reversal to exit the falling channel with a 3.49% jump. The sharp jump forms a bullish engulfing candle and hints at a rounding bottom reversal.&nbsp; 
Currently, the ETH price trades at $1657 with an intraday growth of 0.25% and struggles to prolong the bullish move. Moreover, the uptrend faces opposition from the 50-day EMA and might give a breakout entry shortly.&nbsp; 
Moreover, the uptrend beyond the 50-day EMA will increase the probability of a golden crossover in the Ethereum price chart.&nbsp; 
Technical indicators: 
RSI indicator: The daily RSI line spikes above the halfway line and reflects the improvement in the underlying bullish pressure. 
MACD indicator: The MACD and signal lines avoid a bearish crossover, and the bullish histograms resurface.&nbsp; 
Therefore, the momentum indicators maintain a positive viewpoint for the future ETH price trend. 
<h2 class="wp-block-heading" id="h-will-eth-price-cross-2000">Will ETH Price Cross $2000?</h2> 
With the channel breakout and the market-wide recovery, the uptrend is set for Ethereum in the coming days. The breakout rally can fuel the ETH price higher to the $2000 mark next month, and the 50-day EMA breakout will be an excellent entry spot.&nbsp; 
Conversely, if things go south for Bitcoin ETF, Ethereum prices may suffer a ripple move and plunge to $1600.

ETH Price Analysis: Ethereum Eyes $2000 With A Channel Break!

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