{"id":32002,"date":"2023-11-07T04:54:11","date_gmt":"2023-11-07T08:54:11","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=32002"},"modified":"2023-11-07T04:54:11","modified_gmt":"2023-11-07T08:54:11","slug":"ethereum-price-hesitates-but-a-bull-run-to-2000-seems-likely","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/07\/ethereum-price-hesitates-but-a-bull-run-to-2000-seems-likely\/","title":{"rendered":"Ethereum Price Hesitates But A Bull-Run To $2,000 Seems Likely"},"content":{"rendered":"

Ethereum price is slowly moving up toward the $2,000 resistance against the US dollar. ETH is in a better positive for a decent upward move than Bitcoin.<\/em><\/p>\n

Ethereum is still attempting to move toward the $2,000 level.
\nThe price is trading above $1,850 and the 100-hourly Simple Moving Average.
\nThere is a connecting bullish trend line forming with support near $1,880 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 Remains Supported<\/h2>\n

Ethereum formed a support base and slowly moved higher above the $1,850 resistance zone<\/a>. ETH even broke the $1,880 level and spiked toward the $1,920 resistance, unlike Bitcoin<\/a>.<\/p>\n

The price traded as high as $1,915 and is currently consolidating gains. There was a minor downside correction below the $1,900 level. The price dipped below the 50% Fib retracement level of the upward move from the $1,858 swing low to the $1,915 high.<\/p>\n

However, the bulls are protecting more downsides below $1,880. They are protecting the 61.8% Fib retracement level of the upward move from the $1,858 swing low to the $1,915 high.<\/p>\n

Ethereum is now trading above $1,880 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support near $1,880 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 gain bullish momentum and even clear $1,950. In the stated case, the price could drift toward the $2,000 barrier. The next key resistance is near $2,050, above which the price could accelerate higher toward the $2,120 level.<\/p>\n

Are Dips Supported 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 $1,880 level or the trend line.<\/p>\n

The next key support is $1,860 or the 100 hourly SMA. The main support sits at $1,850. A downside break below the $1,850 support might spark bearish moves. 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 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 slowly moving up toward the $2,000 resistance against the US dollar. ETH is in a better positive for a decent upward move than Bitcoin.<\/em><\/p>\n

Ethereum is still attempting to move toward the $2,000 level.
\nThe price is trading above $1,850 and the 100-hourly Simple Moving Average.
\nThere is a connecting bullish trend line forming with support near $1,880 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 Remains Supported<\/h2>\n

Ethereum formed a support base and slowly moved higher above the $1,850 resistance zone<\/a>. ETH even broke the $1,880 level and spiked toward the $1,920 resistance, unlike Bitcoin<\/a>.<\/p>\n

The price traded as high as $1,915 and is currently consolidating gains. There was a minor downside correction below the $1,900 level. The price dipped below the 50% Fib retracement level of the upward move from the $1,858 swing low to the $1,915 high.<\/p>\n

However, the bulls are protecting more downsides below $1,880. They are protecting the 61.8% Fib retracement level of the upward move from the $1,858 swing low to the $1,915 high.<\/p>\n

Ethereum is now trading above $1,880 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support near $1,880 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 gain bullish momentum and even clear $1,950. In the stated case, the price could drift toward the $2,000 barrier. The next key resistance is near $2,050, above which the price could accelerate higher toward the $2,120 level.<\/p>\n

Are Dips Supported 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 $1,880 level or the trend line.<\/p>\n

The next key support is $1,860 or the 100 hourly SMA. The main support sits at $1,850. A downside break below the $1,850 support might spark bearish moves. 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 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-32002","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\/32002","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=32002"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32002\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32002"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}