Ethereum Price Primed To Test $2,000, These Could Be The Factors To Watch

Ethereum price is moving higher above the $1,900 resistance against the US dollar. ETH could accelerate higher toward $2,000 or even $2,120 in the coming sessions. Ethereum is showing positive signs above the $1,900 level. The price is trading above $1,880 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support near $1,905 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move higher toward the $2,000 barrier in the near term. Ethereum Price Looks Set To Rally Ethereum is forming a base above the $1,850 support zone. ETH remained in a bullish zone and slowly moved higher above the $1,880 resistance, like Bitcoin. There was also a move above the $1,920 resistance. The price traded to a new multi-week high at $1,925 and is currently consolidating gains. The current price action is positive above the 23.6% Fib retracement level of the recent wave from the $1,852 swing low to the $1,925 high. Ethereum is trading above $1,880 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support near $1,905 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com On the upside, the price is facing resistance near the $1,925 level. The next major resistance sits at $1,950, above which the price could accelerate higher. In the stated case, the price could rally toward the $2,000 resistance. The next key resistance is near $2,050, above which the price could aim for a move toward the $2,120 level. Are Dips Supported in ETH? If Ethereum fails to clear the $1,925 resistance, it could start a downside correction. Initial support on the downside is near the $1,905 level and the trend line. The next key support is $1,880 or the 100 hourly SMA or the 61.8% Fib retracement level of the recent wave from the $1,852 swing low to the $1,925 high. 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 $1,780 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,880 Major Resistance Level – $1,950