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.
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.