Ethereum Price Gearing For Another Lift-Off to $2K: Recovery Isn’t Over Yet

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	379,206,707,714	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

379,206,707,714

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	28.97	0.93%	3,158.29	3,158.08	3,158.26

Price Change

Price Change %

Current Price

Bid Price

Offer

28.97

0.93%

3,158.29

3,158.08

3,158.26

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,163.83	3,068.81	3,131.51	3,129.32	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,163.83

3,068.81

3,131.51

3,129.32

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	15:42:38	0.018500	3,158.29	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

15:42:38

0.018500

3,158.29

USD

Price x Volume	Volume	Base Symbol	Related Pairs
96,296,571.54	30,881.21	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

96,296,571.54

30,881.21

Ethereum Price Gearing For Another Lift-Off to $2K: Recovery Isn’t Over Yet

29/05/2023 4:27am

NEWSBTC

Ethereum price started a recovery wave above the $1,850 level against the US Dollar. ETH must clear $1,920 to continue higher in the near term. Ethereum is currently showing positive signs above the $1,850 resistance zone. The price is trading above $1,880 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $1,870 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise further if it clears the $1,920 resistance. Ethereum Price Recovers 4% Ethereum’s price remained supported above the $1,750 level. ETH formed a base and recently started a fresh increase above the $1,820 resistance, similar to Bitcoin. The bulls were able to pump the price above the $1,850 resistance. It even spiked above the $1,900 level. However, the bears are still active near the $1,920 resistance. A high is formed near $1,929 and the price is now consolidating gains. Ether is trading above $1,880 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $1,870 on the hourly chart of ETH/USD. The price is now trading near the 23.6% Fib retracement level of the recent increase from the $1,837 swing low to the $1,929 high. Immediate resistance is near the $1,920 zone. The next major resistance is near the $1,930 level. A close above the $1,930 resistance could send Ether toward $2,000. Source: ETHUSD on TradingView.com The next resistance sits near $2,050, above which Ethereum could rise toward $2,120. Any more gains above the $2,120 resistance zone could push the price toward the $2,250 resistance. Are Dips Supported in ETH? If Ethereum fails to clear the $1,920 resistance, it could start a downside correction. Initial support on the downside is near the $1,900 level. The next major support is near the $1,880 zone or the trend line or the 61.8% Fib retracement level of the recent increase from the $1,837 swing low to the $1,929 high. If there is a close below the $1,870 support, the price could revisit the $1,840 support. Any more losses may perhaps send the price toward the $1,800 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is above the 50 level. Major Support Level – $1,870 Major Resistance Level – $1,920

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