Ethereum

Ethereum Recovers Sharply, Why ETH Could Continue Higher above $2K

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 – 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 – $1,900
Major Resistance Level – $2,000

bitcoin
Bitcoin (BTC) $ 65,502.00
ethereum
Ethereum (ETH) $ 1,909.01
tether
Tether (USDT) $ 0.999944
xrp
XRP (XRP) $ 1.37
bnb
BNB (BNB) $ 595.48
usd-coin
USDC (USDC) $ 1.00
solana
Solana (SOL) $ 82.25
tron
TRON (TRX) $ 0.286712
figure-heloc
Figure Heloc (FIGR_HELOC) $ 1.03
staked-ether
Lido Staked Ether (STETH) $ 2,265.05
dogecoin
Dogecoin (DOGE) $ 0.092809
whitebit
WhiteBIT Coin (WBT) $ 48.99
bitcoin-cash
Bitcoin Cash (BCH) $ 500.65
usds
USDS (USDS) $ 0.999948
cardano
Cardano (ADA) $ 0.266498
leo-token
LEO Token (LEO) $ 8.74
wrapped-steth
Wrapped stETH (WSTETH) $ 2,779.67
hyperliquid
Hyperliquid (HYPE) $ 27.26
canton-network
Canton (CC) $ 0.161746
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 76,243.00
monero
Monero (XMR) $ 329.55
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.998762
ethena-usde
Ethena USDe (USDE) $ 0.998819
wrapped-beacon-eth
Wrapped Beacon ETH (WBETH) $ 2,466.93
chainlink
Chainlink (LINK) $ 8.53
stellar
Stellar (XLM) $ 0.153558
usd1-wlfi
USD1 (USD1) $ 0.999741
wrapped-eeth
Wrapped eETH (WEETH) $ 2,465.31
rain
Rain (RAIN) $ 0.009442
hedera-hashgraph
Hedera (HBAR) $ 0.097309
susds
sUSDS (SUSDS) $ 1.08
dai
Dai (DAI) $ 0.999171
paypal-usd
PayPal USD (PYUSD) $ 1.00
litecoin
Litecoin (LTC) $ 52.73
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 76,366.00
zcash
Zcash (ZEC) $ 239.40
avalanche-2
Avalanche (AVAX) $ 8.55
shiba-inu
Shiba Inu (SHIB) $ 0.000006
weth
WETH (WETH) $ 2,268.37
sui
Sui (SUI) $ 0.883350
the-open-network
Toncoin (TON) $ 1.30
world-liberty-financial
World Liberty Financial (WLFI) $ 0.114834
usdt0
USDT0 (USDT0) $ 0.998824
crypto-com-chain
Cronos (CRO) $ 0.075429
tether-gold
Tether Gold (XAUT) $ 5,165.84
memecore
MemeCore (M) $ 1.43
pax-gold
PAX Gold (PAXG) $ 5,198.94
uniswap
Uniswap (UNI) $ 3.49
polkadot
Polkadot (DOT) $ 1.28
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00