Ethereum (ETH) Price Reverses to Signal New Surges to $2K

1.  ETH launched new upsurges beyond the resistance of $1,880.
2.  The alt remains elevated and might soar toward $2000 soon.
3.  Overpowering the resistance level at $1,9200 would support ETH’s upside campaign.

Ethereum has its price movements well beyond the $1,800 footing. The leading alt kick-started an impressive surge that cleared the hurdle at $1,850. That came as Bitcoin overcame the $28,800 resistance.

Meanwhile, ETH-USD’s 24hr chart confirms a break beyond a crucial bearish line with resistance at $1,860. Further, the pair surged past $1.9K to print a high near $1,915 before consolidating the gains. While writing this post, ETH hovers above $1,880 and 100hr SMA.

Ethereum shows stability beyond the 23.6% Fibonacci retracement mark of the latest surge from $1,843 to $1,915. The closest resistance for Ethereum stands at $1,915.

Source – TradingView

Another massive hurdle seems to form at $1,940. Upward moves past this obstacle will see ETH flourishing towards $2,000. Further bullishness would push the token toward the $2,050 resistance before opening the path to $1,120.

Downside Limited in Ethereum?

Ethereum should overcome the resistance at $1,915 to avoid a downward correction. Failure to do that will see the alt touching the closest support zone at $1,890. Another foothold stands at $1,880 or the 50% Fibonacci retracement of the latest uptick from $1,843 to $1,915, beneath which ETH could fip to the 100hr Simple Moving Average.

Ethereum bulls should capitalize on all upside chances to support ETH’s targeted highs. Moreover, Ethereum fans would have to watch BTC actions as they may determine where ETH heads next. For now, minor uptrends seem imminent before the token establishes directional moves.

Read also:

Tags: Crypto marketcryptocurrencyEthereum