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

Overview
Today last price 1791.97
Today Daily Change 4.65
Today Daily Change % 0.26%
Today daily open 1787.32
 
Trends
Daily SMA20 1509.45
Daily SMA50 1220.07
Daily SMA100 882.44
Daily SMA200 631.08
 
Levels
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

 

 

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