{"id":31949,"date":"2023-11-06T04:52:57","date_gmt":"2023-11-06T08:52:57","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=31949"},"modified":"2023-11-06T04:52:57","modified_gmt":"2023-11-06T08:52:57","slug":"ethereum-price-grinds-higher-and-liftoff-toward-2000-seems-imminent","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/06\/ethereum-price-grinds-higher-and-liftoff-toward-2000-seems-imminent\/","title":{"rendered":"Ethereum Price Grinds Higher and Liftoff Toward $2,000 Seems Imminent"},"content":{"rendered":"

Ethereum price is moving higher above $1,850 against the US dollar. ETH is outperforming Bitcoin and might climb further higher toward the $2,000 resistance.<\/em><\/p>\n

Ethereum is gaining pace for a move toward the $2,000 level.
\nThe price is trading above $1,850 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $1,870 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move higher above the $1,920 and $1,950 levels.<\/p>\n

Ethereum Price Outperforms Bitcoin<\/h2>\n

Ethereum remained in a positive zone above the $1,780 support zone<\/a>. ETH started a fresh increase and was able to clear the $1,850 resistance, outperforming Bitcoin<\/a>.<\/p>\n

The price even spiked above the $1,900 level. It traded to a new multi-week high at $1,912 and the price is now consolidating gains. It is now trading near the 23.6% Fib retracement level of the upward move from the $1,781 swing low to the $1,912 high.<\/p>\n

Ethereum is now trading above $1,850 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $1,870 on the hourly chart of ETH\/USD.<\/p>\n

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

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

On the upside, the price is facing resistance near the $1,900 level. The first major resistance sits at $1,920. If ETH surpasses the $1,920 resistance, it could rise toward the $1,950 barrier. Any more gains might open the doors for a test of the $2,000 handle. The next key resistance is near $2,050, above which the price could accelerate higher toward the $2,120 level.<\/p>\n

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

If Ethereum fails to clear the $1,920 resistance, it could start a downside correction. Initial support on the downside is near the $1,870 level or the trend line.<\/p>\n

The next key support is $1,850 or the 100 hourly SMA. It is also near the 50% Fib retracement level of the upward move from the $1,781 swing low to the $1,912 high. A downside break below the $1,850 support might spark a bearish wave. In the stated case, Ether could drop toward the $1,780 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 above the 50 level.<\/p>\n

Major Support Level \u2013 $1,850<\/p>\n

Major Resistance Level \u2013 $1,920<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is moving higher above $1,850 against the US dollar. ETH is outperforming Bitcoin and might climb further higher toward the $2,000 resistance.<\/em><\/p>\n

Ethereum is gaining pace for a move toward the $2,000 level.
\nThe price is trading above $1,850 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $1,870 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move higher above the $1,920 and $1,950 levels.<\/p>\n

Ethereum Price Outperforms Bitcoin<\/h2>\n

Ethereum remained in a positive zone above the $1,780 support zone<\/a>. ETH started a fresh increase and was able to clear the $1,850 resistance, outperforming Bitcoin<\/a>.<\/p>\n

The price even spiked above the $1,900 level. It traded to a new multi-week high at $1,912 and the price is now consolidating gains. It is now trading near the 23.6% Fib retracement level of the upward move from the $1,781 swing low to the $1,912 high.<\/p>\n

Ethereum is now trading above $1,850 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $1,870 on the hourly chart of ETH\/USD.<\/p>\n

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

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

On the upside, the price is facing resistance near the $1,900 level. The first major resistance sits at $1,920. If ETH surpasses the $1,920 resistance, it could rise toward the $1,950 barrier. Any more gains might open the doors for a test of the $2,000 handle. The next key resistance is near $2,050, above which the price could accelerate higher toward the $2,120 level.<\/p>\n

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

If Ethereum fails to clear the $1,920 resistance, it could start a downside correction. Initial support on the downside is near the $1,870 level or the trend line.<\/p>\n

The next key support is $1,850 or the 100 hourly SMA. It is also near the 50% Fib retracement level of the upward move from the $1,781 swing low to the $1,912 high. A downside break below the $1,850 support might spark a bearish wave. In the stated case, Ether could drop toward the $1,780 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 above the 50 level.<\/p>\n

Major Support Level \u2013 $1,850<\/p>\n

Major Resistance Level \u2013 $1,920<\/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-31949","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\/31949","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=31949"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31949\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31949"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}