Ethereum

Resistance

<a href="https://ethereum.org/en/">Ethereum</a> is showing a strong upward momentum as its price surges past $1,940 against the US Dollar. 
The cryptocurrency has the potential to continue its upward trajectory if it manages to surpass the crucial resistance zone at $2,000. 
Currently, Ethereum is steadily moving closer to the $2,000 zone, trading above $1,920 and the 100-hourly Simple Moving Average. 
On the hourly chart of ETH/USD, there is a bullish trend line forming, indicating support near $1,945. 
If the resistance at $2,000 is successfully breached in the near future, Ethereum could experience a surge of 5% to 8%. 
Ethereum’s price recently found a base above the $1,850 support level and initiated a fresh upward movement, outperforming Bitcoin. 
READ MORE: <a href="https://www.cryptointelligence.co.uk/eu-lawmakers-approve-controversial-law-despite-crypto-concerns/">EU Lawmakers Approve Controversial Law Despite Crypto Concerns</a> 
It surpassed the $1,950 resistance zone, reaching a new multi-day high at $1,975 before consolidating its gains. Although there was a slight decline below $1,965, the price managed to find support. 
The immediate resistance for Ethereum is currently near $1,975, followed by a major resistance level at $2,000. A close above $2,000 could potentially trigger a renewed surge, with the next resistance level around $2,050. 
Further upward gains could propel the price towards the $2,120 mark, and even higher to the $2,200 resistance level. 
However, if Ethereum fails to surpass the $1,975 or $2,000 resistance levels, a downside correction might occur. 
In such a scenario, initial support can be found around the $1,950 level and the trend line zone. 
The next significant support level lies near $1,930, which aligns with the 50% Fibonacci retracement level of the recent upward movement. 
Additionally, the 100-hourly Simple Moving Average also provides support at this level. 
Further downward movement could lead to a drop towards the $1,900 mark, and if the bearish sentiment persists, Ethereum may find support around $1,880. 
As Ethereum continues to display positive price action, investors are closely watching its performance and assessing the potential for further gains. 
<a href="https://www.cryptointelligence.co.uk/submit-a-crypto-or-blockchain-press-release-pr/">Submit A Crypto Press Release</a>

Ethereum Rallies, Looks To Breach Key Resistance Zone

Crypto Intelligence

发布于 2023年7月5日的其他文章

Opside ZK-PoW V2.0: a multi-chain and multi-rollup decentralized prover network

OKX (OKB) Price Prediction: Uwerx (WERX) Hits Major Milestones

The noiseGPT DAO is here - and it will be giving away another 500 USD

Shiba Inu Skyrockets: 1900% Surge in Burn Rate as Shibarium Testnet Hits 25 Million Transactions

Hong Kong Government Urged To Challenge Tether and USDC

What is Stacks and what challenges may this BTC Layer2 Network face?

订阅我们免费的电子期刊，获取每日最新加密领域动态！