{"id":467895,"date":"2021-07-22T05:08:37","date_gmt":"2021-07-22T05:08:37","guid":{"rendered":"https:\/\/wncen.com\/?p=467895"},"modified":"2024-06-11T13:57:13","modified_gmt":"2024-06-11T13:57:13","slug":"ethereum-recovers-sharply-2k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-recovers-sharply-2k\/","title":{"rendered":"TA: Ethereum Recovers Sharply, Why ETH Could Continue Higher above $2K"},"content":{"rendered":"
Ethereum started an upside correction above the $1,850 resistance against the US Dollar. ETH price is likely to continue higher if there is a close above the $2,000 resistance.<\/em><\/p>\n Ethereum formed a decent support base above the $1,720 level, similar to bitcoin<\/a>. As a result, ETH price started a steady increase above the $1,800 and $1,850 resistance levels.<\/p>\n There was also a close above the $1,900 level and the 100 hourly simple moving average<\/a>. Ether price even spiked above the $2,000 resistance, but there was no proper close. A high was formed near $2,033 and the price is now correcting gains.<\/p>\n There was a break below the $2,000 level. It even tested the 23.6% Fib retracement level of the upward move from the $1,755 swing low to $2,033 high.<\/p>\n <\/a><\/p>\n On the upside, an initial resistance is near the $2,000 level. To move further into a positive zone, the price must settle above the $2,000 and $2,020 resistance levels. The next major barrier for the bulls could be near the $2,050 level, followed by $2,100. Any more gains might call for a test of $2,200.<\/p>\n If Ethereum fails to continue higher above $2,000 and $2,020, it could start a downside correction. An initial support on the downside is near the $1,970 level.<\/p>\n The first major support is near the $1,920 level. The main support is now forming near the $1,900 level. It is close to the 50% Fib retracement level of the upward move from the $1,755 swing low to $2,033 high. Any more losses could set the pace for a drop towards the $1,850 support zone in the near term. The next major support sits near the $1,800 level.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now above the 60 level.<\/p>\n Major Support Level \u2013 $1,900<\/p>\n Major Resistance Level \u2013 $2,000<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum started an upside correction above the $1,850 resistance against the US Dollar. ETH price is likely to continue higher if there is a close above the $2,000 resistance. Ethereum started a decent upward move above the $1,850 and $1,950 resistance levels. The price is now trading well above $1,900 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,960 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to rise further if there is a proper close above the $2,000 resistance zone. Ethereum Price Starts Decent Increase Ethereum formed a decent support base above the $1,720 level, similar to bitcoin. As a result, ETH price started a steady increase above the $1,800 and $1,850 resistance levels. There was also a close above the $1,900 level and the 100 hourly simple moving average. Ether price even spiked above the $2,000 resistance, but there was no proper close. A high was formed near $2,033 and the price is now correcting gains. There was a break below the $2,000 level. It even tested the 23.6% Fib retracement level of the upward move from the $1,755 swing low to $2,033 high. Source: ETHUSD on TradingView.com On the upside, an initial resistance is near the $2,000 level. To move further into a positive zone, the price must settle above the $2,000 and $2,020 resistance levels. The next major barrier for the bulls could be near the $2,050 level, followed by $2,100. Any more gains might call for a test of $2,200. Dips Limited in ETH? If Ethereum fails to continue higher above $2,000 and $2,020, it could start a downside correction. An initial support on the downside is near the $1,970 level. The first major support is near the $1,920 level. The main support is now forming near the $1,900 level. It is close to the 50% Fib retracement level of the upward move from the $1,755 swing low to $2,033 high. Any more losses could set the pace for a drop towards the $1,850 support zone in the near term. The next major support sits near the $1,800 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now above the 60 level. Major Support Level \u2013 $1,900 Major Resistance Level \u2013 $2,000<\/p>\n","protected":false},"author":67,"featured_media":462852,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1946,8686,78803],"class_list":["post-467895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price Starts Decent Increase<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in ETH?<\/h2>\n