Ethereum Price Analysis: ETH braces for $2,000 amid bullish technical set-up

  • ETH/USD wavers around intraday high while extending Thursday’s recovery moves near record top.
  • Ascending trend channel, strong RSI joins MACD conditions and sustained trading beyond 100-bar SMA to favor buyers.
  • Sellers to have a bumpy road before revisiting early January levels.

ETH/USD eases from the day’s top of $1,807.95 to currently around $1,790 during early Friday. In doing so, the altcoin keeps the previous day’s upside momentum inside a short-term ascending triangle.

Also favoring the ethereum buyers is the strong RSI conditions, receding strength of the bearish MACD and a three-week-old rising trend channel formation.

Considering the quote’s latest pullback moves, the support line of the weekly triangle and 21-bar SMA, near $1,760, can restrict immediate downside. However, any further weakness may not refrain from challenging the bullish chart formation while directing ETH/USD bears toward $1,550.

It should be noted that the sellers need validation from a 100-bar SMA level of $1,533 to challenge the uptrend.

Alternatively, the stated triangle’s resistance near $1,870 and the channel’s upper line near $1,920 can test the ETH/USD bulls targeting the $2,000 psychological magnet.

ETH/USD four-hour chart

Trend: Bullish

Additional important levels

Today last price 1791.97
Today Daily Change 4.65
Today Daily Change % 0.26%
Today daily open 1787.32
Daily SMA20 1509.45
Daily SMA50 1220.07
Daily SMA100 882.44
Daily SMA200 631.08
Previous Daily High 1819
Previous Daily Low 1704.23
Previous Weekly High 1763.93
Previous Weekly Low 1271.31
Previous Monthly High 1477.3
Previous Monthly Low 715.22
Daily Fibonacci 38.2% 1775.16
Daily Fibonacci 61.8% 1748.07
Daily Pivot Point S1 1721.37
Daily Pivot Point S2 1655.41
Daily Pivot Point S3 1606.6
Daily Pivot Point R1 1836.14
Daily Pivot Point R2 1884.95
Daily Pivot Point R3 1950.91



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: XRP in a league of its own as BTC and ETH  pull back

Bitcoin price is currently showing signs of retracement after a second attempt to rally higher. Ethereum price tried following in BTC’s footsteps but lacked momentum. On the other hand, Ripple price is paving its way, but it might fall in line soon.

More Cryptocurrencies News

Shiba Inu exposes risk of 20% collapse

Shiba Inu price action has been uneventful despite the recent crypto market rally led by Bitcoin. SHIB continues to consolidate as it moves sideways, and an indecisive technical pattern has emerged.

More Shiba Inu News

Polygon looks to double in market value

MATIC price is hovering above a crucial support level at $0.996, expecting a break above. A 13% retracement to $0.855 seems likely if the selling pressure increases. A 100% upswing to $1.727 is on the cards for Polygon.

More Polygon News

Flippening becomes more likely as ETH trade volume growth exceeds BTC in first half of 2021

The growth in the trade volume of Ethereum exceeded that of Bitcoin so far in 2021, according to a report from Coinbase Global Inc. Increasing popularity of decentralized finance and the rise of scaling solutions are among key factors contributing to Ethereum's performance.

More Ethereum News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast