The value of Ethereum, the world-renowned cryptocurrency, is displaying a promising uptrend above $1,850 against the U.S. dollar, proving its dominance over its renowned competitor, Bitcoin. It is speculated that Ethereum may reach an even greater height, possibly touching the $2,000 resistance threshold.
This surge indicates a strong momentum propelling the cryptocurrency toward the coveted $2,000 mark. Presently, the Ethereum trade value stands well above $1,850, surpassing the 100-hourly Simple Moving Average. A distinct bullish trend line has been observed, its support hovering near $1,870. This movement illustrates the possibility of further ascension beyond the $1,920 and $1,950 benchmarks.
Ethereum has managed to stay buoyant above the $1,780 support zone. A fresh increment enabled the cryptocurrency to break past the $1,850 resistance, inevitably rendering Bitcoin its junior. During this bullish run, prices shuffle past the $1,900 mark, positioning Ethereum at a fresh multi-week record of $1,912, marking a time of consolidation for the amassed gains.
Moving against potential slowdowns, the Ethereum price is expected to face a mild resistance near the $1,900 level. A noteworthy resistance stands firm at $1,920. Surpassing this hurdle could set Ethereum on a path toward the $1,950 barrier. Should further gains follow, upcoming prospects include the $2,000 mark and a primary resistance at $2,050. Upon crossing this, the cryptocurrency is expected to surge higher, possibly reaching the $2,120 level.
However, should Ethereum falter at the $1,920 resistance border, a pullback could be initiated, taking the cryptocurrency back to the $1,870 support level. A drop below the $1,850 support level may trigger a bearish wave, creating a plausible scenario for Ethereum tumbling back to the $1,780 mark.
Various technical indicators attest to the bullish momentum for Ethereum. The hourly MACD portrays a promising uptrend, whilst the RSI confidently floats above the neutral level, offering strengthened market support to Ethereum that currently stands at hefty $1,850, facing a formidable resistance of $1,920.
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