Ethereum

Bitcoin

<ul>
 <li>Ethereum (ETH) surges, surpassing key resistance at $2,050.</li>
 <li>ETH eyes $2,100 resistance, aiming for bullish momentum towards $2,200 and $2,350.&nbsp;</li>
</ul>
Ethereum (ETH) has initiated a new rally, breaching the $1,950 resistance level. The second largest cryptocurrency is presently in a consolidation phase, eyeing a potential breakthrough above the $2,070 resistance. This positive momentum follows a key trajectory, from the $1,976 swing low to reaching a high of $2,061.
Today, ETH’s bullish trend fueled the establishment of a foundation above the $2,000 mark. Subsequently, ETH surpassed <a href="https://thenewscrypto.com/ethereum-price-breaks-below-key-support-level-as-bears-dominate/" target="_blank" rel="noopener noreferrer nofollow">key resistance</a> levels at $2,030, mirroring Bitcoin’s (BTC) parallel ascent. Climbing above $2,050 and the 100-hourly simple moving average, Ethereum also shattered a significant bearish trend line with resistance around $2,070 on its hourly chart against the USD.&nbsp;
The positive sentiment in the global crypto market follows the <a href="https://thenewscrypto.com/santander-enables-bitcoin-and-ethereum-trading-for-swiss-clients/" target="_blank" rel="noopener noreferrer nofollow">announcement</a> from Santander Private Banking International, a division of Banco Santander. The Spanish financial services giant is now offering trading and custody services for Bitcoin and Ethereum to a select group of customers in Switzerland.
Additionally, on-chain data from Glassnode reveals a gradual accumulation trend among Ethereum whales, signaling increased confidence among buyers. The addresses holding over 10,000 ETH (equivalent to $20 million) have been on the rise after a two-month interval. This uptick supports Ethereum’s current trajectory by sustaining momentum beyond the $2,000 threshold.
<h3 class="wp-block-heading" id="ethereum-struggles-to-break-2-500">Ethereum Struggles to Break $2,500&nbsp;</h3>
Earlier today, the leading altcoin marked a peak at $2,061 with a daily trading volume of $12.9 billion, which soared over 67% in the last 24 hours. Despite these gains, ETH has faced hurdles in surpassing the $2,500 level since May 2022.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="522" src="https://thenewscrypto.com/wp-content/uploads/2023/11/image-35-1024x522.png" alt="" class="wp-image-86083" srcset="https://thenewscrypto.com/wp-content/uploads/2023/11/image-35-1024x522.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-35-300x153.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-35-768x391.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-35.png 1301w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">Ethereum (ETH) Price Chart (Source: TradingView)
 </figcaption>
 </figure>
</div>
Now the $2,070 resistance level poses a challenge for ETH on the upside. A decisive move above this barrier could trigger <a href="https://thenewscrypto.com/ethereum-eth-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">bullish momentum</a>, with the next resistance at $2,150 and potential further gains toward the $2,250 and $2,500 levels.
Conversely, if ETH fails to overcome the $2,070 resistance, it might initiate a corrective decline. Initial support is at the $2,000 level, followed by crucial levels at $1,980 and $1,950. A breach below $1,950 could open additional losses to ETH, with a potential drop toward the $1,905 support zone.

Ethereum Is Above $2000 Again but Will It Cross the $2100 Resistance?

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