Ethereum Price to USD Exchange RateUp to 1Above $950.If ETH/USD breaks through the resistance zone of $2150, it may further rise
Ethereum Price to USD Exchange RateUp to 1Above $950.If ETH/USD breaks through the resistance zone of $2150, it may further rise.
Ethereum Price Analysis
In the past few trading days, Ethereum has been climbing like a bamboo shoot against the US dollar, breaking through the 1920 US dollar level and even accelerating to break through the 1950 US dollar level and the 55 hour simple moving average (4 hours). The bull troops showed no signs of weakness, pushing prices above $2000 and bravely venturing into the highlands near $2136. Nowadays, Ethereum prices are consolidating this wave of increase, with trading prices steadily above $2000.
From a technical perspective, Ethereum has shown a positive trend above the $1950 and 55 hour simple moving average (4 hours). A key bullish trend line was formed on the 4-hour chart, providing support for prices, located near $1980. The direct upward resistance level is around $2080, while the next main resistance level is around the $2150 area.
If Ethereum can significantly break through the $2150 level, it may push the price to $2250. If further increases occur, prices may even push towards a resistance zone of $2340 or $2420 in the short term. On the downside, initial support is around $2000.
The next main support level is currently around the 1980 US dollar level or trend line. Once this support level is lost, the price may test the 50% Fib retracement level of the upward wave from a fluctuating low of $1777 to a high of $2136 ($1950).
If Ethereum falls short of its $1950 support level, it may push the price down to $1920. Any further losses could lead to a price increase of $1780. From the chart, the price of Ethereum is trading above the 1980 US dollar region and the 55 hour simple moving average (4 hours).
Overall, as long as Ethereum can maintain its support area of $1950, it is still possible to continue climbing.
Technical indicators display
The 4-hour MACD is accumulating strength in bullish regions.
The 4-hour RSI (relative strength index) also shows that the RSI of ETH/USD is currently above the 50 level, indicating a bullish trend in the market.
The key support level is in the $1980 and $1950 regions, while the key resistance level is in the $2080 and $2150 regions.
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