Ethereum Price Clears Hurdle - A Strengthening Case For More Upsides
Ethereum price started a fresh increase above the $1,950 resistance. ETH is consolidating and might aim for a move above the $2,070 resistance....
- Ethereum price has started a fresh increase above the $1,950 resistance level.
- The price is currently trading above $2,000 and the 100-hourly Simple Moving Average.
- A major bearish trend line with resistance near $2,010 has been broken.
- The price could continue to move up unless there is a break below the $1,985 support level.
- On the upside, the price is facing resistance near the $2,050 zone, with the first key resistance at $2,070.
- If Ethereum fails to clear the $2,070 resistance, it could start a fresh decline.
- Initial support on the downside is near the $2,000 level and the 100-hourly Simple Moving Average.
The sentiment of the article is generally positive as it highlights Ethereum's fresh increase and potential for more gains. However, it also mentions the possibility of a decline if certain resistance levels are not cleared.