TA: Ethereum Tests $2K, Why ETH Could Extend Rally

TA: Ethereum Tests $2K, Why ETH Could Extend Rally

Ethereum gained pace above the $1,940 resistance zone against the US Dollar. ETH even spiked above $2,000 and might extend gains in the near term.


  • Ethereum started a recovery wave above the $1,920 and $1,940 levels.

  • The price is now trading above $1,920 and the 100 hourly simple moving average.

  • There is a connecting bullish trend line forming with support near $1,975 on the hourly chart of ETH/USD (data feed via Kraken).

  • The pair could extend gains if there is a close above the $2,000 resistance zone.


  • Ethereum Price Gains 5%

    Ethereum remained supported above the $1,850 level. There was a steady increase and the bulls were able to push the price above the $1,920 resistance zone.


    The price even jumped above the $1,940 resistance and settled above the 100 hourly simple moving average. Finally, there was a spike above the $2,000 resistance and the price traded as high as $2,010. Ether is now consolidating gains near the $2,000 level.


    It is trading above the 23.6% Fib retracement level of the upward move from the $1,874 swing ..

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