Ethereum

<ul>
 <li><strong>Ethereum surpasses the $2,060 mark, fueling optimism for a potential rally toward $2,100.</strong></li>
 <li><strong>The bulls faced obstacles around $2,090 and $2,120, leading to a consolidation phase.</strong></li>
</ul>
<p>Ethereum (ETH) recently experienced a surge above the crucial $2,050 mark, sparking anticipation of a potential rally toward the $2,300 level. However, the current market situation prompts curiosity about the influential factors, particularly the regulatory challenges faced by <a href="https://thenewscrypto.com/us-crackdown-on-binance-makes-ceo-resign/" target="_blank" rel="noopener noreferrer nofollow">Binance</a> following its plea deal with the U.S. Department of Justice.</p>
<p>The second largest crypto displayed an upward trajectory, breaching the $2,000 resistance zone, and it managed to sustain support above this level, even after a brief retest at $1,930 on November 21. Notably, ETH found a spot among the top gainers, surpassing the $2,050 resistance zone.</p>
<p>On November 23, a peak at $2,088 marked a <a href="https://thenewscrypto.com/ethereum-maintains-2000-amidst-market-turmoil/" target="_blank" rel="noopener noreferrer nofollow">temporary halt</a> to the bullish momentum, leading to a consolidation phase. While a minor correction dipped below $2,080, Ethereum remains comfortably above $2,070 and the 100-hourly simple moving average. The current scenario reveals a short-term contracting triangle on the hourly chart of ETH/USD, with resistance hovering around $2,090.</p>
<h3 class="wp-block-heading" id="h-ethereum-eth-will-sustain-above-2-000">Ethereum (ETH) Will Sustain Above $2,000?</h3>
<p>According to the daily price chart, breaking the resistance at $2,090 is pivotal for Ethereum’s potential ascent towards the $2,150 resistance zone. Beyond that lies a significant jump at $2,250, and a successful breach could set the <a href="https://thenewscrypto.com/ethereum-price-shows-signs-of-recovery-amidst-market-uncertainty/" target="_blank" rel="noopener noreferrer nofollow">stage for a push</a> toward the 17-month high of $2,300, seen in May 2022.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="551" src="https://thenewscrypto.com/wp-content/uploads/2023/11/image-44-1024x551.png" alt="" class="wp-image-86306" srcset="https://thenewscrypto.com/wp-content/uploads/2023/11/image-44-1024x551.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-44-300x161.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-44-768x413.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-44.png 1299w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Ethereum (ETH) Price Chart (Source: TradingView)
  </figcaption>
 </figure>
</div>
<p>Conversely, if ETH fails to surpass the $2,080 resistance, it might trigger a fresh decline. Initial support is anticipated at around $2,060 and $2,045, with further downside support at $2,010. A breach below $2,000 could lead to additional losses, potentially driving ETH towards the $1,950 support in the near term.</p>
<p>At the time of writing, Ethereum traded at $2,068, climbing over 4.6% in a week and 14.42% in a month. However, the daily trading volume of ETH declined over 36% in the last 24 hours and stands at $7.8 billion.&nbsp;</p>

Ethereum (ETH) Aims for $2200, Will It Happen?

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