{"id":31800,"date":"2023-11-02T04:52:43","date_gmt":"2023-11-02T08:52:43","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=31800"},"modified":"2023-11-02T04:52:43","modified_gmt":"2023-11-02T08:52:43","slug":"ethereum-bulls-keeps-pushing-why-rally-could-soon-reach-2000","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/02\/ethereum-bulls-keeps-pushing-why-rally-could-soon-reach-2000\/","title":{"rendered":"Ethereum Bulls Keeps Pushing, Why Rally Could Soon Reach $2,000"},"content":{"rendered":"

Ethereum price popped above the $1,850 resistance against the US dollar. ETH is showing positive signs and might soon climb toward the $2,000 resistance.<\/em><\/p>\n

Ethereum is slowly moving higher above the $1,850 resistance zone.
\nThe price is trading above $1,820 and the 100-hourly Simple Moving Average.
\nThere was a break above a key declining channel with resistance near $1,818 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair is signaling bullish signs and a possible move toward the $2,000 resistance.<\/p>\n

Ethereum Price Aims Higher<\/h2>\n

Ethereum formed a base above the $1,780 level and recently started a steady increase, like Bitcoin<\/a>. ETH gained pace for a move above the $1,820 resistance<\/a> zone.<\/p>\n

There was a break above a key declining channel with resistance near $1,818 on the hourly chart. It sparked bullish moves and pushed the price above the main hurdle at $1,850. The price traded to a new multi-week high at $1,875 and is currently consolidating gains.<\/p>\n

Ethereum is now trading above $1,820 and the 100-hourly Simple Moving Average. It is also above the 23.6% Fib retracement level of the recent increase from the $1,784 swing low to the $1,875 high.<\/p>\n

On the upside, the price is facing resistance near the $1,875 level. If ETH surpasses the $1,875 resistance, it could again start a steady increase and test $1,920. The next key resistance is near $1,950, above which the price could accelerate higher toward the $2,0000 level.<\/p>\n

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

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

Any more gains might call for a move toward the $2,050 level. In the stated case, the price could even climb toward the $2,120 level.<\/p>\n

Are Dips Limited in ETH?<\/h2>\n

If Ethereum fails to clear the $1,875 resistance, it could start a downside correction. Initial support on the downside is near the $1,850 level.<\/p>\n

The next key support is $1,820 or the 61.8% Fib retracement level of the recent increase from the $1,784 swing low to the $1,875 high. The main support is now forming near the $1,800 level and the 100-hourly Simple Moving Average. A downside break below the $1,800 support might spark a bearish wave. In the stated case, Ether could drop toward the $1,750 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,820<\/p>\n

Major Resistance Level \u2013 $1,875<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price popped above the $1,850 resistance against the US dollar. ETH is showing positive signs and might soon climb toward the $2,000 resistance.<\/em><\/p>\n

Ethereum is slowly moving higher above the $1,850 resistance zone.
\nThe price is trading above $1,820 and the 100-hourly Simple Moving Average.
\nThere was a break above a key declining channel with resistance near $1,818 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair is signaling bullish signs and a possible move toward the $2,000 resistance.<\/p>\n

Ethereum Price Aims Higher<\/h2>\n

Ethereum formed a base above the $1,780 level and recently started a steady increase, like Bitcoin<\/a>. ETH gained pace for a move above the $1,820 resistance<\/a> zone.<\/p>\n

There was a break above a key declining channel with resistance near $1,818 on the hourly chart. It sparked bullish moves and pushed the price above the main hurdle at $1,850. The price traded to a new multi-week high at $1,875 and is currently consolidating gains.<\/p>\n

Ethereum is now trading above $1,820 and the 100-hourly Simple Moving Average. It is also above the 23.6% Fib retracement level of the recent increase from the $1,784 swing low to the $1,875 high.<\/p>\n

On the upside, the price is facing resistance near the $1,875 level. If ETH surpasses the $1,875 resistance, it could again start a steady increase and test $1,920. The next key resistance is near $1,950, above which the price could accelerate higher toward the $2,0000 level.<\/p>\n

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

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

Any more gains might call for a move toward the $2,050 level. In the stated case, the price could even climb toward the $2,120 level.<\/p>\n

Are Dips Limited in ETH?<\/h2>\n

If Ethereum fails to clear the $1,875 resistance, it could start a downside correction. Initial support on the downside is near the $1,850 level.<\/p>\n

The next key support is $1,820 or the 61.8% Fib retracement level of the recent increase from the $1,784 swing low to the $1,875 high. The main support is now forming near the $1,800 level and the 100-hourly Simple Moving Average. A downside break below the $1,800 support might spark a bearish wave. In the stated case, Ether could drop toward the $1,750 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,820<\/p>\n

Major Resistance Level \u2013 $1,875<\/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-31800","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\/31800","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=31800"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31800\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31800"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}