{"id":179912,"date":"2023-10-24T11:15:14","date_gmt":"2023-10-24T05:45:14","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=179912"},"modified":"2023-10-24T11:15:14","modified_gmt":"2023-10-24T05:45:14","slug":"ethereum-accelerates-toward-2000-but-can-the-bulls-make-it-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-accelerates-toward-2000-but-can-the-bulls-make-it-crypto-news\/","title":{"rendered":"Ethereum Accelerates Toward $2,000 But Can The Bulls Make It? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Ethereum price started a decent increase after Bitcoin rallied 15% against the US dollar. ETH is rising, but it might struggle to clear the $1,850 resistance.<\/em><\/p>\n<ul>\n<li>Ethereum started a steady increase above the $1,750 resistance.<\/li>\n<li>The price is trading above $1,780 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bullish trend line forming with support near $1,750 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could struggle to clear the $1,850 and $1,880 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Jumps 10%<\/h2>\n<p>Ethereum remained in a positive zone above the $1,650 support zone. The recent pump in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-rally-to-35000\/\">Bitcoin<\/a> above the $34,000 resistance sparked more upsides in ETH. There was a steady increase above the $1,720 and $1,750 resistance levels.<\/p>\n<p>The price even cleared the key $1,800 resistance zone. A high is formed near $1,849 and the price is now consolidating gains. It is trading well above the 23.6% Fib retracement level of the upward move from the $1,660 swing low to the $1,849 high.<\/p>\n<p>Ethereum is now trading above $1,780 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $1,750 on the hourly chart of ETH\/USD. The trend line is near the 50% Fib retracement level of the upward move from the $1,660 swing low to the $1,849 high.<\/p>\n<p>On the upside, the price is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-dragged-higher-by-bitcoin-1700\/\">facing resistance near the $1,850 level<\/a>. The first major resistance is near the $1,880 zone. A close above the $1,880 resistance could send the price further higher. The next key resistance is $1,920, above which the price could accelerate higher.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Ethereum-17.png?resize=1024%2C468\"><\/a><\/p>\n<p>Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\">ETHUSD on TradingView.com<\/a><\/p>\n<p>In the stated case, Ether could start a strong increase toward the $2,000 resistance. Any more gains might open the doors for a move toward $2,200.<\/p>\n<h2>Downside Correction in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,850 resistance, it could start a downside correction. Initial support on the downside is near the $1,800 level.<\/p>\n<p>The next key support is $1,750 and the trend line zone. A downside break below the $1,750 support might send the price further lower. In the stated case, the price could drop toward the $1,700 level. Any more losses may perhaps send Ether toward the $1,650 level and the 100-hourly Simple Moving Average.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> \u2013 <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,750<\/p>\n<p>Major Resistance Level \u2013 $1,850<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price started a decent increase after Bitcoin rallied 15% against the US dollar. ETH is rising, but it might struggle to clear the $1,850 resistance. Ethereum started a steady increase above the $1,750 resistance. The price is trading above $1,780 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":179913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-179912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=179912"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179912\/revisions"}],"predecessor-version":[{"id":179914,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179912\/revisions\/179914"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/179913"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=179912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=179912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=179912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}