Ethereum

Momentum

Resistance

Ethereum price remained strong and started a fresh increase above $2,000. ETH could continue to rise if it clears the $2,075 resistance zone. 
<ul> 
 <li>Ethereum is again moving higher above the $2,000 support zone.</li> 
 <li>The price is trading above $2,000 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bullish trend line forming with support near $2,046 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could accelerate higher if it clears the $2,075 resistance zone in the near term.</li> 
</ul> 
<h2 id="ethereum-price-reclaims-2k">Ethereum Price Reclaims $2K</h2> 
After a downside correction, Ethereum price found support near the $1,920 zone. ETH traded as low as $1,933 and recently started a fresh increase like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-rallies-38k/" target="_blank" rel="noopener ">Bitcoin</a>. There was a clear move above the $1,950 and $1,975 resistance levels. 
There was a close above the 50% Fib retracement level of the downward move from the $2,118 swing high to the $1,933 low. Finally, it settled above the main <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-trims-gains-1920/" target="_blank" rel="noopener ">$2,000 resistance zone</a>. 
Ethereum is now trading above $2,000 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $2,046 on the hourly chart of ETH/USD. Immediate resistance is near the $2,075 zone. It is close to the 76.4% Fib retracement level of the downward move from the $2,118 swing high to the $1,933 low. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-11.png?resize=1024%2C468"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-560922" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-11.png?resize=1024%2C468" alt="Ethereum Price" width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-11.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-11.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-11.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-11.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-11.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-11.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-11.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> 
The next major resistance sits at $2,120. A close above the $2,120 resistance could start another strong increase. The first resistance is near $2,150, above which the price could aim for a move toward the $2,200 level. Any more gains could start a wave toward the $2,250 level. 
<h2 id="more-losses-in-eth">More Losses in ETH?</h2> 
If Ethereum fails to clear the $2,075 resistance or the $2,120 pivot level, it could start a fresh decline. Initial support on the downside is near the $2,045 level or the trend line. 
The next key support is $2,025 or the 100-hourly Simple Moving Average. The main support is $2,000. A downside break below the $2,000 support might start a steady decline. In the stated case, Ether could drop toward the $1,920 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 bullish zone. 
Hourly RSI – The RSI for ETH/USD is now above the 50 level. 
Major Support Level – $2,025 
Major Resistance Level – $2,120

Ethereum Price Bullish Momentum Reignites – Can Bulls Pust ETH To $2,200?

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