• About Us
  • Privacy Policy
  • Contact Us
Subscribe
BitcoinCryptos - News About Bitcoin & Cryptos
  • Home
  • Bitcoin
  • Ethereum
  • Dogecoin
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Dogecoin
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
No Result
View All Result
BitcoinCryptos
No Result
View All Result
Home Market

Ethereum Bulls Keeps Pushing, Why Rally Isn’t Over Yet

November 13, 2023
in Market
0
Ethereum Bulls Keeps Pushing, Why Rally Isn’t Over Yet
Share on FacebookShare on Twitter


Ethereum price rallied steadily and surpassed the $2,000 resistance. ETH is consolidating above $2,000 and might start a fresh increase toward $2,120.

  • Ethereum rallied above the $2,000 and $2,050 levels before it corrected lower.
  • The price is trading above $2,020 and the 100-hourly Simple Moving Average.
  • There is a key declining channel forming with support near $2,000 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a fresh increase if it clears the $2,085 resistance zone in the near term.

Ethereum Price Holds Support

This past week, we saw a strong increase in Ethereum above the $2,000 level. ETH outperformed Bitcoin and cleared many hurdles near the $2,050 level.

It traded to a new multi-week high at $2,137 before there was a downside correction. The price declined below the $2,080 level. There was a move below the 23.6% Fib retracement level of the upward move from the $1,906 swing low to the $2,137 high.

Ethereum is still trading above $2,020 and the 100-hourly Simple Moving Average. There is also a key declining channel forming with support near $2,000 on the hourly chart of ETH/USD.

Ethereum Price

Source: ETHUSD on TradingView.com

On the upside, the price is facing resistance near the $2,060 level and the channel region. The next major resistance sits at $2,085, above which the price could accelerate higher. In the stated case, the price could rally toward the $2,120 resistance. The next key resistance is near $2,150, above which the price could aim for a move toward the $2,200 level.

More Losses in ETH?

If Ethereum fails to clear the $2,085 resistance, it could continue to move down. Initial support on the downside is near the $2,025 level and the 100-hourly Simple Moving Average. It is close to the 50% Fib retracement level of the upward move from the $1,906 swing low to the $2,137 high.

The next key support is $2,000 and the channel zone. A downside break below the $2,000 support might spark bearish moves. In the stated case, Ether could drop toward the $1,930 support zone in the near term. Any more losses might call for a drop toward the $1,850 level.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 level.

Major Support Level – $2,000

Major Resistance Level – $2,085



Source link

Related articles

XRP, SOL, ETH, HYPE Oversold Bounce Possible If BTC Recovers

XRP, SOL, ETH, HYPE Oversold Bounce Possible If BTC Recovers

June 22, 2025
Despite Trump’s Backing, Crypto Is Choosing MiCA Over America: Paybis

Despite Trump’s Backing, Crypto Is Choosing MiCA Over America: Paybis

June 22, 2025
Tags: BullsEthereumisntPushingRally
Share76Tweet47

Related Posts

XRP, SOL, ETH, HYPE Oversold Bounce Possible If BTC Recovers

XRP, SOL, ETH, HYPE Oversold Bounce Possible If BTC Recovers

June 22, 2025
0

Key points:Bitcoin fell below the $100,000 support on Sunday, but a rebound could depend on how US stock futures open.Bitcoin’s...

Despite Trump’s Backing, Crypto Is Choosing MiCA Over America: Paybis

Despite Trump’s Backing, Crypto Is Choosing MiCA Over America: Paybis

June 22, 2025
0

Europe is pulling ahead in the global crypto race under its Markets in Crypto-Assets (MiCA) framework, outpacing even President Donald...

RISE Act Provides AI Guardrails but Not Enough Detail

RISE Act Provides AI Guardrails but Not Enough Detail

June 22, 2025
0

Civil liability law doesn’t often make for great dinner-party conversation, but it can have an immense impact on the way...

Ethereum Whale Stacks $39M in ETH Despite Ether Falling Harder Than Bitcoin

Ethereum Whale Stacks $39M in ETH Despite Ether Falling Harder Than Bitcoin

June 22, 2025
0

Key takeaways:An Ethereum whale accumulated $39 million in ETH during a sharp market sell-off triggered by US airstrikes on Iran.Ethereum...

Intents fix crypto’s UX crisis.

Intents fix crypto’s UX crisis.

June 22, 2025
0

Opinion by: Alex Shevchenko, co-founder of AuroraTry to make a simple purchase with crypto today. You are forced to wrangle...

Load More
Texas Govt. Signs Strategic Bitcoin Reserve Into Law

Texas Govt. Signs Strategic Bitcoin Reserve Into Law

June 22, 2025
0

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure In a major development, the Texas State...

Bitcoin Price Warnings Emerge, Stablecoins Score Regulatory Win: Binance Weekly Report

June 22, 2025
0

This week, the cryptocurrency space recorded a major win in the stablecoin sector despite geopolitical headwinds keeping markets in a...

XRP, SOL, ETH, HYPE Oversold Bounce Possible If BTC Recovers

XRP, SOL, ETH, HYPE Oversold Bounce Possible If BTC Recovers

June 22, 2025
0

Key points:Bitcoin fell below the $100,000 support on Sunday, but a rebound could depend on how US stock futures open.Bitcoin’s...

Bitcoin Bears Take The Wheel — Why $94,000 May Be The Next Critical Zone

Bitcoin Bears Take The Wheel — Why $94,000 May Be The Next Critical Zone

June 22, 2025
0

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Over the past few days, the Bitcoin...

A Double-Edged Sword For The Market – Here’s Why

A Double-Edged Sword For The Market – Here’s Why

June 22, 2025
0

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Bitcoin (BTC) prices have now dipped under...

We have all the news related to the crypto market and we make sure to bring and publish all the updates as fast as we can.

Categories

  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Dogecoin
  • Ethereum
  • Litecoin
  • Market
  • Regulation

Archives

  • 2025
  • 2024
  • 2023
  • 2022
  • 2021

Newsletter

    • About Us
    • Privacy Policy
    • Contact Us

    © 2021 bitcoincryptos.com

    Please enter CoinGecko Free Api Key to get this plugin works.
    No Result
    View All Result
    • Home
    • Bitcoin
    • Ethereum
    • Dogecoin
    • Litecoin
    • Cryptocurrency
    • Blockchain
    • Regulation
    • Market
    • Prices

    © 2018 JNews by Jegtheme.