Ethereum Price Analysis: Is $2,000 Possible in the Short Term?

Ethereum price is struggling to scale above $1,800 against the US Dollar. According to Aayush Jindal who has made successful claims, Ethereum price is still supported and it is likely to scale above $1,800 and $1,850.

  • Ethereum price peaked near $1,835 and it is currently correcting lower.
  • The price is currently trading well below $1,800 and the 100 hourly moving average. There is a key bearish trend line forming with resistance near $1,800 on the hourly chart of ETH/USD
  • (data feed via Kraken).
  • According to the analyst, the pair is expected to rally while trading above the $1,700 support zone.

Analyst: Ethereum price could climb sharply above $1,800

Ethereum price climbed above $1,840 level but it failed to meet resistance from not overcome $1,840. Conversely, Bitcoin managed to break through $50,000 and surge to an all-time high. ETH price peaked near $1,835 before starting a fresh decline. The price later broke the $1,800 support level and settled below the 100 hourly easy moving average. There was also a break below the 50% Fib retracement level on the move up from the $1,665 low to the $1,835 high

. Ethereum price is currently finding strong buying interest near the $1,730 level. This level is close to the 61.8% Fib retracement level of the $1,665 low to the $1,835 high. On the upside, ETH price is facing obstacles near $1,800.

There is a crucial bearish trend line forming with resistance near $1,800 on the hourly chart of ETH/USD’s Next Intents

. A clear close above the 100 hourly SMA and a trailing move above $1,800 could start a sharp rise. The next key resistance is near $1,840, where bulls are likely to aim for a 5% gain in the short-term. If ethereum price fails to clear the trendline resistance at $1,800, it might continue lower.

According to the downside analyst, the first major reinforcement is near $1.730. The main reinforcement is forming near the $1,700 level. A downside break below the $1,730 and $1,700 support levels is likely to put a lot of pressure on the bulls. As long as Ethereum price is above $1,700, it is likely to scale above $2,000, according to the analyst.

Ethereum price latest view with technical indicators

Hourly MACD: The MACD for ETH/USD is slowly losing momentum in the upside zone.

Hourly RSI: The RSI for ETH/USD is fast moving below the 50 level.

Big Boost: $1,730.

Main resistance level: $1,800.

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