Ethereum Climbs To $1,900, Why $2K Could Be Next?

[skrimon]

Ethereum started a significant increase above $1,800 against the US Dollar. ETH is rising and might continue to rise towards the $2,000 resistance zone.

Ethereum found support near $1,680 and started a new increase. The price now trades above $1,800 and the 100 hourly simple moving average.

There was a break above a significant bearish trend line with resistance near $1,740 on the hourly chart of ETH/USD (data feed via Kraken).

P.S: If you're fed up with slow trade executions, then buckle up as AssetsFX is currently offering lightning-fast trade executions along with an ultra-wide range of trading opportunities!

The pair could continue to rise further towards the $1,950 and $2,000 levels.

Ethereum Price Rallies 12%
Ethereum remained well bid above the $1,650 level. ETH formed a base and started a fresh increase above the $1,750 resistance zone. The bulls pumped the price above the $1,800 level.

The price climbed higher and even broke the $1,850 resistance. Finally, there was a move above $1,900 and the price settled above the 100 hourly simple moving average.

A high was formed near $1,919, and the price is now consolidating gains. It trades well above $1,800 and the 100 hourly simple moving average.

Ether price is also well above the 23.6% Fib retracement level of the upward move from the $1,655 low to the $1,919 high. Immediate resistance on the upside is near the $1,920 level. The first significant resistance is near the $1,950 level.

A clear move above the $1,950 level could start a steady increase to $2,000. If the bulls remain in action, the price may rise towards the $2,120 resistance zone in the near term.

Dips Supported in ETH?
If Ethereum fails to rise above the $1,920 resistance, it could start a downside correction. Initial support on the downside is near the $1,850 zone. The next significant support is near $1,800.

The primary support is near the $1,780 level or the 50% Fib retracement level of the upward move from the $1,655 low to the $1,919 high, below which there is a risk of a sharp decline.

In the stated case, ether price may decline towards the $1,750 support. Any more losses might call for a test of the $1,700 level.
Thanks for reading!

[Forbidden_zon]

I think we will not see 2K soon. It is worth seeing how Ethereum will react to the transition to the new protocol. Now they say that many miners will switch to Ethereum Classic mining. So it will be an interesting story.