|

Ethereum Price Analysis: ETH eases ahead of the key hurdle to $2,000

  • ETH/USD snaps three-day winning streak, steps back from two-week top.
  • MACD, RSI stays in favor of the bulls, 21-day EMA tests pullback moves.
  • One-month-old horizontal area between $1,890 and $1,875 becomes the tough nut to crack for the buyers.

Ethereum consolidates recent gains around $1,820, declining for the first time in five days, during early Tuesday. In doing so, the altcoin takes a U-turn from the highest level since February 22, also declining before the key $1,890-75 resistance area.

Despite the recent pullback, ETH/USD bulls should remain hopeful amid upbeat RSI and MACD signals. However, the immediate downside towards the 21-day EMA level near $1,650 can’t be ruled out.

Should the Ethereum sellers dominate past-$1,650, a two-month-long rising support line close to $1,485 and 100-day EMA around $1,280 will be the key to watch.

On the flip side, a clear run-up beyond the stated $1,890 hurdle will be a clear signal for the ETH/USD bulls to retake the $2,000 round-figure.

Though, any further advances will need to stay beyond the latest record top of $2,041.

ETH/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price1820.36
Today Daily Change-14.22
Today Daily Change %-0.78%
Today daily open1834.58
 
Trends
Daily SMA201665.14
Daily SMA501577.35
Daily SMA1001183.15
Daily SMA200794.19
 
Levels
Previous Daily High1843.99
Previous Daily Low1664.08
Previous Weekly High1657.91
Previous Weekly Low1292.76
Previous Monthly High2041.42
Previous Monthly Low1271.31
Daily Fibonacci 38.2%1775.26
Daily Fibonacci 61.8%1732.81
Daily Pivot Point S11717.78
Daily Pivot Point S21600.97
Daily Pivot Point S31537.87
Daily Pivot Point R11897.69
Daily Pivot Point R21960.79
Daily Pivot Point R32077.6

Author

Anil Panchal

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

More from Anil Panchal
Share:

Editor's Picks

Bitcoin braces for US midterm elections as historical sell-offs revive downside concerns

Bitcoin (BTC) braces for the impact of the US midterm elections, just a week after the $6 billion hack from Binance. Historically, congressional elections have negatively affected not just the president’s party but also Bitcoin.

Bitcoin slips below $78,000 amid ETF outflows

Bitcoin (BTC) slips below $78,000 at the time of writing on Monday after posting its fourth straight weekly loss. Institutional demand shows signs of weakening, with spot Exchange Traded Funds (ETFs) recording outflows of over $202 million last week.

Crypto Today: Bitcoin, Ethereum and XRP consolidate amid weak market sentiment

Bitcoin hovers above $78,000, building on the 100-day EMA support as market sentiment remains weak. Ethereum shows signs of recovery near $2,300, though upside remains technically capped.

Pi Network tests long-term resistance breakout as selling pressure wanes

Pi Network edges higher on Monday, testing the bullish breakout of a long-term resistance trendline. Fear and Greed Index declines to 36 from 43 last week, indicating reduced risk appetite.

Bitcoin: Binance security breach and hawkish Fed push BTC lower
Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.