Ethereum

Rally

Resistance

Ethereum price popped above the $1,850 resistance against the US dollar. ETH is showing positive signs and might soon climb toward the $2,000 resistance. 
<ul> 
 <li>Ethereum is slowly moving higher above the $1,850 resistance zone.</li> 
 <li>The price is trading above $1,820 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break above a key declining channel with resistance near $1,818 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair is signaling bullish signs and a possible move toward the $2,000 resistance.</li> 
</ul> 
<h2 id="ethereum-price-aims-higher">Ethereum Price Aims Higher</h2> 
Ethereum formed a base above the $1,780 level and recently started a steady increase, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-resumes-rally-37k/" target="_blank" rel="noopener ">Bitcoin</a>. ETH gained pace for a move above the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-liftoff-if-1850/" target="_blank" rel="noopener ">$1,820 resistance</a> zone. 
There was a break above a key declining channel with resistance near $1,818 on the hourly chart. It sparked bullish moves and pushed the price above the main hurdle at $1,850. The price traded to a new multi-week high at $1,875 and is currently consolidating gains. 
Ethereum is now trading above $1,820 and the 100-hourly Simple Moving Average. It is also above the 23.6% Fib retracement level of the recent increase from the $1,784 swing low to the $1,875 high. 
On the upside, the price is facing resistance near the $1,875 level. If ETH surpasses the $1,875 resistance, it could again start a steady increase and test $1,920. The next key resistance is near $1,950, above which the price could accelerate higher toward the $2,0000 level. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-1.png?resize=1024%2C468"><img decoding="async" loading="lazy" class="alignnone size-full wp-image-558714" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-1.png?resize=1024%2C468" alt="Ethereum Price" width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-1.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-1.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-1.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-1.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-1.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-1.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-1.png?resize=1024%2C468?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/ETHUSD/" target="_blank" rel="noopener nofollow">ETHUSD on TradingView.com</a> 
Any more gains might call for a move toward the $2,050 level. In the stated case, the price could even climb toward the $2,120 level. 
<h2 id="are-dips-limited-in-eth">Are Dips Limited in ETH?</h2> 
If Ethereum fails to clear the $1,875 resistance, it could start a downside correction. Initial support on the downside is near the $1,850 level. 
The next key support is $1,820 or the 61.8% Fib retracement level of the recent increase from the $1,784 swing low to the $1,875 high. The main support is now forming near the $1,800 level and the 100-hourly Simple Moving Average. A downside break below the $1,800 support might spark a bearish wave. In the stated case, Ether could drop toward the $1,750 level. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. 
Hourly RSI – The RSI for ETH/USD is now above the 50 level. 
Major Support Level – $1,820 
Major Resistance Level – $1,875

Ethereum Bulls Keeps Pushing, Why Rally Could Soon Reach $2,000

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