{"id":112979,"date":"2021-02-16T06:16:58","date_gmt":"2021-02-16T06:16:58","guid":{"rendered":"https:\/\/precoinnews.com\/?p=112979"},"modified":"2021-02-16T06:16:58","modified_gmt":"2021-02-16T06:16:58","slug":"ta-why-ethereum-could-rally-to-2000-if-it-clears-1850","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-why-ethereum-could-rally-to-2000-if-it-clears-1850\/","title":{"rendered":"TA: Why Ethereum Could Rally To $2,000 If It Clears $1,850"},"content":{"rendered":"<p><em>Ethereum managed to remain stable above $1,750 against the US Dollar. ETH price is now eyeing an upside break above the $1,850 and $1,880 resistance levels.<\/em><\/p>\n<ul>\n<li>Ethereum started a fresh increase after trading towards the $1,650 support zone.<\/li>\n<li>The price is now trading well above $1,750 and the 100 hourly simple moving average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $1,825 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a strong increase if there is a clear break above $1,825 and $1,850.<\/li>\n<\/ul>\n<h2>Ethereum Price Aims $2,000<\/h2>\n<p>Ethereum declined heavily below the $1,800 and $1,750 support levels. ETH price even dipped below the $1,700 level and the 100 hourly simple moving average.<\/p>\n<p>However, the bulls took a strong stand near the $1,650 zone. A low was formed near $1,665 and the price started a fresh increase. There was a break above the $1,750 resistance level and the 100 hourly simple moving average.<\/p>\n<p>Ether was able to climb above $1,800, but there was no break above $1,850. A high was formed near $1,835 and recently there was a minor dip. The price corrected below the $1,800 level. There was also a break below the 23.6% Fib retracement level of the recent wave from the $1,665 swing low to $1,835 high.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/02\/Ethereum-13.png\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>The bulls are still active above the $1,750 support level. The 50% Fib retracement level of the recent wave from the $1,665 swing low to $1,835 high is also near $1,750.<\/p>\n<p>On the upside, the price is facing a couple of hurdles near $1,825 and $1,850. There is also a major bearish trend line forming with resistance near $1,825 on the hourly chart of ETH\/USD. If ether price clears the trend line resistance and $1,850, the bulls are likely to aim a rally towards the $2,000 level.<\/p>\n<h2>Fresh Dip in ETH?<\/h2>\n<p>If Ethereum fails to clear the trend line resistance or $1,850, it could start a fresh decline. On the downside, the first major support is near the $1,750 level.<\/p>\n<p>The main support is near the $1,700 level. If there is a close below the $1,700 level, the bulls might lose control. In the stated case, there are chances of a drop towards the $1,650 support.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> &ndash; <\/strong>The MACD for ETH\/USD is slowly gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &ndash; <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n<p>Major Support Level &ndash; $1,750<\/p>\n<p>Major Resistance Level &ndash; $1,850<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-could-rally-to-2000\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum managed to remain stable above $1,750<\/p>\n","protected":false},"author":3,"featured_media":112978,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TA: Why Ethereum Could Rally To $2,000 If It Clears $1,850 - 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