{"id":111915,"date":"2021-02-09T09:30:51","date_gmt":"2021-02-09T09:30:51","guid":{"rendered":"https:\/\/precoinnews.com\/?p=111915"},"modified":"2021-02-09T09:30:51","modified_gmt":"2021-02-09T09:30:51","slug":"ethereum-price-analysis-eth-likely-to-burst-towards-2000","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/altcoins\/ethereum-price-analysis-eth-likely-to-burst-towards-2000\/","title":{"rendered":"Ethereum Price Analysis: ETH Likely To Burst Towards $2,000"},"content":{"rendered":"
Ethereum price is about to break higher above $1,800 against the US Dollar. ETH\/USD is likely to aim a test of $2,000 if it remains stable above $1,500.<\/em><\/p>\n In the past few days, Ethereum remained in a positive zone above the $1,500 level against the US Dollar. ETH price corrected lower, but dips were limited below the $1,500 level.<\/p>\n The recent swing low was formed near $1,494 before the price started a fresh increase. The price gained pace above the $1,500 and $1,600 resistance levels. It even cleared the $1,700 level and settled well above the 55 simple moving average (4-hours).<\/p>\n A high was formed near $1,779 and the price is now consolidating gains. On the downside, an initial support is near the $1,710 level. It is close to the 23.6% Fib retracement level of the recent increase from the $1,494 low to $1,779 high.<\/p>\n The next major support is near the $1,650 level. The 50% Fib retracement level of the recent increase from the $1,494 low to $1,779 high is also near $1,640. Moreover, there is also a major bullish trend line forming with support near $1,480 on the 4-hours chart.<\/p>\n On the upside, an immediate resistance is near the $1,750 level. If there is a clear break above the $1,750 and $1,770 resistance levels, the price could easily rally above $1,800. In the stated case, the price might surge 8%-10% in the coming sessions. The next major resistance could be near $2,000.<\/p>\n <\/p>\n Ethereum Price<\/p>\n Looking at the chart, Ethereum price is clearly trading in a positive zone above $1,650 and the 55 simple moving average (4-hours). Overall, ether price seems to be eyeing an upside break above $1,800 and $1,850 in the near term.<\/p>\n 4 hours MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for ETH\/USD is well above the 50 level.<\/p>\n Key Support Levels \u2013 $1,650, followed by the $1,500 zone.<\/p>\n Key Resistance Levels \u2013 $1,750 and $2,000.<\/p>\nEthereum Price Analysis<\/h2>\n
Technical indicators<\/h2>\n