TA: Ethereum Climbs To $1,900, Why $2K Could Be Next

Aug 11, 2022 08:00 am Cryptocurrency 127

Ethereum started a major increase above $1,800 against the US Dollar. ETH is rising and might continue to rise towards the $2,000 resistance zone.

Ethereum found support near $1,680 and started a fresh increase.

The price is now trading above $1,800 and the 100 hourly simple moving average.

There was a break above a major bearish trend line with resistance near $1,740 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could continue to rise further higher towards the $1,950 and $2,000 levels.

Ethereum Price Rallies 12%

Ethereum remained well bid above the $1,650 level. ETH formed a base and started a fresh increase above the $1,750 resistance zone. The bulls pumped the price above the $1,800 level.

The price climbed higher and even broke the $1,850 resistance. Finally, there was a move above the $1,900 and the price settled above the 100 hourly simple moving average. A high was formed near $1,919 and the price is now consolidating gains.

It is now trading well above $1,800 and the 100 hourly simple moving average. ..

Support the originator by clicking the read the rest link below.