ETH Is Poised To Make Another Surge Above $2000: Price Analysis

ETH is poised to make another surge above $2000 as it was consolidating above the $1750 against the US dollar with the price maintaining the support level so let’s read more in our ethereum price news today.

The price is now holding the gains above the $1750 level and the 100 hourly simple moving average with a bullish trend line that is forming with the support at $1770 on the hourly chart of the pair. The ETH/USD pair will start a fresh surge towards $1850 and the $1900 levels in the near-term. Ethereum made another attempt to gain momentum above the $1850 and the $1860 resistance level but the price failed to gain even more momentum above the $1850, unlike BTC which rallied above $46,000.

Another high was formed near the $1870 level before the downside correction and the price dipped below the $1820 and the $1800 support levels with a new low forming near the $1763 and the price consolidating in a range. it is also holding the gains above the $1750 and the 100 hourly simple moving average.

There’s a new major bullish trend line forming with support close to the $1770 on the hourly chart of the pair with the immediate resistance is near the $1815 level and it is close to the 50% fib retracement level from the recent decline from the $1870 high to the $1763 low. The main hurdle is forming near the $1830 level and the 61.8% fib retracement level from the drop of the $1870 high. breaking above these levels could start a strong increase in the upcoming sessions, and in this case, the price will rise steadily towards the $1870 and the $1880 levels with the main target for the bulls is the next $2000 barrier.

ETH is poised to make another surge but if it fails to resume its uptrend above $1830, it could correct lower. The first key support is close to the $1770 level. The main support is forming near the $1760 level and the 100 hourly simple moving average so there’s a new downside break below the $1760 support so the price could drop towards the $1700 level. the hourly MACD for the pair is losing pace in the bearish zone while the hourly RSI for the pair is below the 50 levels.