Ethereum rose to an all-time high of $ 2,140 before correcting bearish against the US Dollar. ETH price is currently gaining above the $ 2,000 support zone.


Ethereum shows positive signs

Ethereum is showing many positive signs above the $ 2,000 support zone.

The price is currently well above the $ 2,000 support and the 100 hourly simple moving average.

There is a key bearish trend line with resistance near $ 2,075 on the hourly chart of ETH / USD.

Unless there is a close below the $ 2,000 support zone, the pair is likely to enter a new uptrend.

If Ethereum cannot stay above the $ 2,000 support and the 100 hourly SMA, there is a risk of a downside breakout. The first major support is near the $ 1,980 level.

Further losses could drag Ethereum price towards the $ 1,900 support zone. If the bulls can’t keep $ 1,900, it could be a test for the $ 1,850 support zone in the near term.


Technical indicators

Hourly MACD – The MACD for ETH / USD is now gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH / USD is well below the 50 level.

Major Support Level – $ 2,000.

Major Resistance Level – $ 2,100.


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