The crypto market is showing positive signs after a recent dip, with Ethereum being among the leading assets. In the last few days, Ethereum has seen a nice increase above the $1,750 level against the US Dollar. Bulls pushed the price above the $1,800, $1,850 and $1,900 levels, and the $1,950 resistance zone too. The coin even rallied above the $2,000 resistance level and is currently consolidating its gains.
According to data from the 4-hours chart, there is a major bullish trend line forming with support near $1,830, which could act as strong support for the ETH bulls. If a clear break above the $1,950 resistance zone happens, it could send ETH towards the $2,000 or even $2,150 resistance zone.
On the flip side, if the first key support at $1,830 of the trend line fails to protect losses, the price could decline towards the $1,800 level and 50% Fib retracement level of the upward move from the $1,763 swing low to the $1,943 high. Any more losses from the current levels could push the price towards the $1,700 or even $1,650 support levels.
For now, Ethereum appears to be consolidating its recent gains within a tight range, with both buyers and sellers waiting for an opportunity to enter the market. Overall, Ethereum’s price is likely to stay biased unless it breaks above the $2,000 and $2,150 resistance levels.
Alina Sanders
- 2023-04-06
Ethereum Bulls Gaining Momentum
Ethereum's price is surging ahead with bulls pushing the coin to gain above $2,000. Learn all about Ethereum's latest performance and its potential to soar even higher.
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