Ethereum traded around its all-time high of $ 2,040 before correcting lower against the dollar.

 

 

Will Ethereum increase?

ETH price is trading above $ 1,850. The price direction will likely continue towards $ 2,000.

ETH price has risen steadily. ETH broke through the key resistance of $ 2,000.

Now ETH is trading above the $ 1,850 level and the 100 simple moving average.

There is an important uptrend line formed with support near $ 1,860 on the 4-hour ETH / USD pair.

The pair is expected to continue to rise above the $ 1,980 and $ 2,000 levels in the near term.

 

Could it be a fall?

If Ethereum struggles to move above the $ 1,950 level, a correction may come to a lower level. The first major support on the downside is near the trendline support at $ 1,850.

A downside break below the trendline support could possibly lead to a long decline below the $ 1,813 low. The next major support is near the $ 1,760 level or the 100 simple moving average.

 

Technical indicators

4-hour MACD: The MACD for ETH / USD is slowly gaining momentum in the bullish zone.

4 hours RSI: The RSI for ETH / USD is still above the 50 level.

Support Level: $ 1,850.

Resistance Level – $ 2,000.

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