Ethereum

Rally

Test

Resistance

Ethereum price is moving higher above the $1,900 resistance against the US dollar. ETH could accelerate higher toward $2,000 or even $2,120 in the coming sessions. 
<ul> 
 <li>Ethereum is showing positive signs above the $1,900 level.</li> 
 <li>The price is trading above $1,880 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a connecting bullish trend line forming with support near $1,905 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could continue to move higher toward the $2,000 barrier in the near term.</li> 
</ul> 
<h2 id="ethereum-price-looks-set-to-rally">Ethereum Price Looks Set To Rally</h2> 
Ethereum is forming a base above the $1,850 support zone. ETH remained in a bullish zone and slowly moved higher above the $1,880 resistance, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-breaks-36k/" target="_blank" rel="noopener ">Bitcoin</a>. 
There was also a move above the $1,920 resistance. The price traded to a new multi-week high at $1,925 and is currently consolidating gains. The current price action is positive above the 23.6% Fib retracement level of the recent wave from the $1,852 swing low to the $1,925 high. 
Ethereum is trading above $1,880 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support near $1,905 on the hourly chart of ETH/USD. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-6.png?resize=1024%2C468"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-559846" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-6.png?resize=1024%2C468" alt="Ethereum Price" width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-6.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-6.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-6.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-6.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-6.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-6.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-6.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> 
On the upside, the price is facing resistance near the $1,925 level. The next major resistance sits at $1,950, above which the price could accelerate higher. In the stated case, the price could rally toward the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-bullish-momentum-fades-1920/" target="_blank" rel="noopener ">$2,000 resistance</a>. The next key resistance is near $2,050, above which the price could aim for a move toward the $2,120 level. 
<h2 id="are-dips-supported-in-eth">Are Dips Supported in ETH?</h2> 
If Ethereum fails to clear the $1,925 resistance, it could start a downside correction. Initial support on the downside is near the $1,905 level and the trend line. 
The next key support is $1,880 or the 100 hourly SMA or the 61.8% Fib retracement level of the recent wave from the $1,852 swing low to the $1,925 high. The main support sits at $1,850. A downside break below the $1,850 support might spark bearish moves. In the stated case, Ether could drop toward the $1,780 level. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. 
Hourly RSI – The RSI for ETH/USD is now above the 50 level. 
Major Support Level – $1,880 
Major Resistance Level – $1,950

Ethereum Price Primed To Test $2,000, These Could Be The Factors To Watch

目录

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