Ethereum

Resistance

Ethereum price is struggling to gain strength above $2,100. ETH is consolidating above $2,000 and might start a fresh surge if it clears $2,100. 
<ul> 
 <li>Ethereum is showing positive signs above the $2,000 support zone.</li> 
 <li>The price is trading above $2,010 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a connecting bearish trend line forming with resistance near $2,090 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could start a fresh increase if it clears the $2,100 resistance zone in the near term.</li> 
</ul> 
<h2 id="ethereum-price-remains-in-uptrend">Ethereum Price Remains In Uptrend</h2> 
After forming a base, Ethereum price made another attempt to clear the <a href="https://www.newsbtc.com/analysis/eth/ethereum-bulls-keeps-pushing-2120/" target="_blank" rel="noopener ">$2,100 resistance</a>. However, ETH failed to gain bullish momentum and trimmed all gains, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-lacks-momentum-37k/" target="_blank" rel="noopener ">Bitcoin</a>. 
There was a move below the $2,050 level and the price spiked below the 100-hourly Simple Moving Average. However, the bulls were active above the $2,030 level. A low is formed near $2,031 and the price is now moving higher. 
Ethereum is now trading above $2,040 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,075 level or the 50% Fib retracement level of the recent decline from the $2,118 swing high to the $2,031 low. 
The next major resistance sits at $2,100. There is also a connecting bearish trend line forming with resistance near $2,090 on the hourly chart of ETH/USD. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-9.png?resize=1024%2C468"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-560528" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-9.png?resize=1024%2C468" alt="Ethereum Price" width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-9.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-9.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-9.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-9.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-9.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-9.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-9.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> 
A close above the trend line and $2,100 could send the price further higher toward the $2,150 zone. The next key resistance is near $2,220, above which the price could aim for a move toward the $2,300 level. Any more gains could start a wave toward the $2,450 level. 
<h2 id="another-bearish-wave-in-eth">Another Bearish Wave in ETH?</h2> 
If Ethereum fails to clear the $2,100 resistance, it could start a fresh decline. Initial support on the downside is near the $2,030 level and the 100-hourly Simple Moving Average. 
The next key support is $2,000. A downside break below the $2,000 support might start a sharp decline. In the stated case, Ether could drop toward the $1,930 support zone in the near term. Any more losses might call for a drop toward the $1,850 level. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. 
Hourly RSI – The RSI for ETH/USD is now below the 50 level. 
Major Support Level – $2,000 
Major Resistance Level – $2,100

Ethereum Holds Ground As The Bulls Prepare For A Fresh Surge

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