Ethereum Price Clears Hurdle - A Strengthening Case For More Upsides


21 Nov 2023 4:15 AM

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.

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