NewsBTC
2022-08-11 05:28:00

TA: Ethereum Climbs To $1,900, Why $2K Could Be Next

Ethereum started a major increase above $1,800 against the US Dollar. ETH is rising and might continue to rise towards the $2,000 resistance zone. Ethereum found support near $1,680 and started a fresh increase. The price is now trading above $1,800 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,740 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise further higher towards the $1,950 and $2,000 levels. Ethereum Price Rallies 12% Ethereum remained well bid above the $1,650 level. ETH formed a base and started a fresh increase above the $1,750 resistance zone. The bulls pumped the price above the $1,800 level. The price climbed higher and even broke the $1,850 resistance. Finally, there was a move above the $1,900 and the price settled above the 100 hourly simple moving average. A high was formed near $1,919 and the price is now consolidating gains. It is now trading well above $1,800 and the 100 hourly simple moving average. Ether price is also well above the 23.6% Fib retracement level of the upward move from the $1,655 low to $1,919 high. Source: ETHUSD on TradingView.com An immediate resistance on the upside is near the $1,920 level. The first major resistance is near the $1,950 level. A clear move above the $1,950 level could start a steady increase to $2,000. If the bulls remain in action, the price may perhaps rise tow...

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.