{"id":31612,"date":"2023-10-30T04:53:20","date_gmt":"2023-10-30T08:53:20","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=31612"},"modified":"2023-10-30T04:53:20","modified_gmt":"2023-10-30T08:53:20","slug":"ethereum-price-faces-big-move-can-bulls-send-eth-to-2000","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/30\/ethereum-price-faces-big-move-can-bulls-send-eth-to-2000\/","title":{"rendered":"Ethereum Price Faces Big Move \u2013 Can Bulls Send ETH To $2,000?"},"content":{"rendered":"

Ethereum price is consolidating gains below the $1,850 resistance against the US dollar. ETH must stay above the $1,750 support to start a fresh increase.<\/em><\/p>\n

Ethereum is still struggling to gain pace for a move above $1,850.
\nThe price is trading above $1,770 and the 100-hourly Simple Moving Average.
\nThere is a key contracting triangle forming with support near $1,780 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could extend its decline if it fails to stay above the $1,740 support.<\/p>\n

Ethereum Price Remains In Range<\/h2>\n

Ethereum failed to continue higher above the $1,850 level and started a downside correction<\/a>. ETH corrected lower below $1,800, but the bulls remained active near $1,750.<\/p>\n

A low was formed near $1,741 and the price is now making a fresh attempt to gain pace, like Bitcoin<\/a>. There was a move above the $1,780 level. The price tested the 50% Fib retracement level of the downward move from the $1,866 swing high to the $1,741 low.<\/p>\n

Ethereum is now trading above $1,770 and the 100-hourly Simple Moving Average. There is also a key contracting triangle forming with support near $1,780 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price is facing resistance near the $1,800 level. The first major resistance is near the $1,815 zone. It is near the 61.8% Fib retracement level of the downward move from the $1,866 swing high to the $1,741 low.<\/p>\n

<\/a><\/p>\n

Source: ETHUSD on TradingView.com<\/a><\/p>\n

A close above the $1,815 resistance could start a decent increase. In the stated case, Ether could revisit the $1,850 resistance. The next key resistance is near $1,865, above which the price could accelerate higher. In the stated case, the price could rise toward the $1,920 level. The main hurdle sits at $2,000.<\/p>\n

Another Decline in ETH?<\/h2>\n

If Ethereum fails to clear the $1,815 resistance, it could start another decline. Initial support on the downside is near the $1,780 level, the 100-hourly Simple Moving Average, and the trend line.<\/p>\n

The next key support is $1,740. A downside break below the $1,740 support might send the price further lower. In the stated case, Ether could drop toward the $1,700 level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n

Major Support Level \u2013 $1,720<\/p>\n

Major Resistance Level \u2013 $1,815<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is consolidating gains below the $1,850 resistance against the US dollar. ETH must stay above the $1,750 support to start a fresh increase.<\/em><\/p>\n

Ethereum is still struggling to gain pace for a move above $1,850.
\nThe price is trading above $1,770 and the 100-hourly Simple Moving Average.
\nThere is a key contracting triangle forming with support near $1,780 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could extend its decline if it fails to stay above the $1,740 support.<\/p>\n

Ethereum Price Remains In Range<\/h2>\n

Ethereum failed to continue higher above the $1,850 level and started a downside correction<\/a>. ETH corrected lower below $1,800, but the bulls remained active near $1,750.<\/p>\n

A low was formed near $1,741 and the price is now making a fresh attempt to gain pace, like Bitcoin<\/a>. There was a move above the $1,780 level. The price tested the 50% Fib retracement level of the downward move from the $1,866 swing high to the $1,741 low.<\/p>\n

Ethereum is now trading above $1,770 and the 100-hourly Simple Moving Average. There is also a key contracting triangle forming with support near $1,780 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price is facing resistance near the $1,800 level. The first major resistance is near the $1,815 zone. It is near the 61.8% Fib retracement level of the downward move from the $1,866 swing high to the $1,741 low.<\/p>\n

<\/a><\/p>\n

Source: ETHUSD on TradingView.com<\/a><\/p>\n

A close above the $1,815 resistance could start a decent increase. In the stated case, Ether could revisit the $1,850 resistance. The next key resistance is near $1,865, above which the price could accelerate higher. In the stated case, the price could rise toward the $1,920 level. The main hurdle sits at $2,000.<\/p>\n

Another Decline in ETH?<\/h2>\n

If Ethereum fails to clear the $1,815 resistance, it could start another decline. Initial support on the downside is near the $1,780 level, the 100-hourly Simple Moving Average, and the trend line.<\/p>\n

The next key support is $1,740. A downside break below the $1,740 support might send the price further lower. In the stated case, Ether could drop toward the $1,700 level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n

Major Support Level \u2013 $1,720<\/p>\n

Major Resistance Level \u2013 $1,815<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-31612","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31612","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=31612"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31612\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31612"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}