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
Author
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.
