Ethereum

Resistance

Ethereum price is slowly moving up toward the $2,000 resistance against the US dollar. ETH is in a better positive for a decent upward move than Bitcoin. 
<ul> 
 <li>Ethereum is still attempting to move toward the $2,000 level.</li> 
 <li>The price is trading above $1,850 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a connecting bullish trend line forming with support near $1,880 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could continue to move higher above the $1,920 and $1,950 levels.</li> 
</ul> 
<h2 id="ethereum-price-remains-supported">Ethereum Price Remains Supported</h2> 
Ethereum formed a support base and slowly moved higher above the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-grinds-higher-2000/" target="_blank" rel="noopener ">$1,850 resistance zone</a>. ETH even broke the $1,880 level and spiked toward the $1,920 resistance, unlike <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-34k/" target="_blank" rel="noopener ">Bitcoin</a>. 
The price traded as high as $1,915 and is currently consolidating gains. There was a minor downside correction below the $1,900 level. The price dipped below the 50% Fib retracement level of the upward move from the $1,858 swing low to the $1,915 high. 
However, the bulls are protecting more downsides below $1,880. They are protecting the 61.8% Fib retracement level of the upward move from the $1,858 swing low to the $1,915 high. 
Ethereum is now trading above $1,880 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support near $1,880 on the hourly chart of ETH/USD. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-4.png?resize=1024%2C468"><img decoding="async" loading="lazy" class="alignnone size-full wp-image-559443" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-4.png?resize=1024%2C468" alt="Ethereum Price " width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-4.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-4.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-4.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-4.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-4.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-4.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-4.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> 
On the upside, the price is facing resistance near the $1,900 level. The first major resistance sits at $1,920. If ETH surpasses the $1,920 resistance, it could gain bullish momentum and even clear $1,950. In the stated case, the price could drift toward the $2,000 barrier. The next key resistance is near $2,050, above which the price could accelerate higher toward the $2,120 level. 
<h2 id="are-dips-supported-in-eth">Are Dips Supported in ETH?</h2> 
If Ethereum fails to clear the $1,920 resistance, it could start a downside correction. Initial support on the downside is near the $1,880 level or the trend line. 
The next key support is $1,860 or the 100 hourly SMA. The main support sits at $1,850. A downside break below the $1,850 support might spark bearish moves. In the stated case, Ether could drop toward the $1,750 level. 
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 above the 50 level. 
Major Support Level – $1,850 
Major Resistance Level – $1,920

Ethereum Price Hesitates But A Bull-Run To $2,000 Seems Likely

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