Ethereum Price Prediction: ETH regains focus to $2,000
- ETH/USD keeps recovery moves from two-week bottom despite latest pullback.
- Bounce off two-month-old support line joins daily closing beyond 21-day SMA to back the bulls
- 11-day-old trend line guards immediate upside ahead of the $2,000 threshold.
ETH/USD stays on the front foot, recently easing to $1,755, during the early Tuesday’s trading. In doing so, the altcoin keeps the recovery moves from the previous day’s heavy downtick that recalled two-week lows in a flash move.
However, failures to slip beneath an upward sloping trend line from December 23 join a daily closing beyond 21-day SMA to favor the ETH/USD buyers.
As a result, the Ethereum bulls are currently eyeing an area comprising February 13 top and February 23 low, around $1,875-85.
In a case where the ETH/USD bulls remain dominant past-$$1,885, the $2,000 will gain the market’s attention.
Meanwhile, a downside break of the stated support line, at $1,562 now, needs validation from a 50-day SMA level of $1,482 before convincing the Ethereum sellers.
Following that, the late-January lows near $1,040 and the $1,000 psychological magnet should be in the spotlight.
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.
