• Ethereum price is currently trading above the $2,000 level against the US Dollar.
• There is a key rising channel forming with support near $2,060 on the 4-hours chart.
• The pair could climb further if it stays above the $2,000 support zone.
Ethereum Price Analysis
Ethereum price is moving higher above the $2,000 resistance against the US Dollar. ETH price is now trading above $2,000 and the 55 simple moving average (4 hours). There is a key rising channel forming with support near $2,060 on the 4-hours chart (data feed from Coinbase). The pair could climb further if it stays above the $2,000 support zone.
In the past few days, Ethereum saw a decent increase above the $1,880 level against the US Dollar. ETH price was able to gain pace for a move above the $2,000 level and the 55 simple moving average (4 hours). The bulls even pushed the price above the $2100 resistance zone. A high was formed near $2141 before bears appeared.
Immediate resistance on upside is near at around$2100level .The next major resistance is near at$ 2140zone .A clear move will send prices toward$2200 .Any more gains can take prices towards$ 2320resistance or$ 2400in near term .
On downside initial support lies at around$ 2060level .The next major support lies at around$ 2050level .A break below this level could push prices towards$ 2000. The 50% Fib retracement level of upward move from swing low of1855to high of2142lies close to2000level too .Any more losses can take prices towards1920levels .
Ethereum’s price is currently trading abovethe 2000zone and 55simple moving average (4hours) Overall , Ether’spricecouldclimbfurtherifitstaysabovethe2000supportzone Technical indicators also point in favor of further bullish movement