Ethereum (ETH) Price Tries To Breach $1,800 Resistance, Guns For $2,000

Name	Symbol	Market	Market Cap ($)	Algorithm
Litecoin	LTCUSD	Crypto	5,971,272,515	Scrypt

Name

Symbol

Market

Market Cap ($)

Algorithm

Litecoin

LTCUSD

Crypto

5,971,272,515

Scrypt

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.380	0.47%	80.41	80.38	80.40

Price Change

Price Change %

Current Price

Bid Price

Offer

0.380

0.47%

80.41

80.38

80.40

High Price	Low Price	Open Price	Prev. Close	52 Week Range
81.28	78.58	80.15	80.03	57.64 - 114.98

High Price

Low Price

Open Price

Prev. Close

52 Week Range

81.28

78.58

80.15

80.03

57.64 - 114.98

Exchange	Last Trade	Size	Trade Price	Currency
GEMN	23:30:56	0.325740	80.38	USD

Exchange

Last Trade

Size

Trade Price

Currency

GEMN

23:30:56

0.325740

80.38

USD

Price x Volume	Volume	Base Symbol	Related Pairs
12,436,708.07	155,503.84	LTC	LTCEUR	LTCGBP	LTCBTC

Price x Volume

Volume

Base Symbol

Related Pairs

12,436,708.07

155,503.84

Ethereum (ETH) Price Tries To Breach $1,800 Resistance, Guns For $2,000

12/09/2022 12:10pm

NEWSBTC

Ethereum rallied from the hype generated by the Merge announcement. Although this is recent news, ETH already hit the $2,000 mark after the bearish July market. After over a month of price increases, ETH’s price closed in on the $2,000 mark. One of its highest since the entire crypto market crashed. However, the most recent rally has placed confidence in investors and traders alike. Related Reading: XRP Bulls Charge Hard To Pull Prices Up Past $0.34 After A Dismal August The Highly-Anticipated Merge The rally was because of the recent ETH Merge announcements that has been the talk of crypto traders around the world. This move, according to Ethereum co-founder Vitalik Buterin, will bring efficiency to the network and reduce overall carbon footprint. These types of announcements however boost the confidence of traders and investors pushing the price up. As of this writing, ETH is oscillating at ranges $1,718.41 and $1,791.76. The token is also trying to entrench itself on the 78.60 percent in the Fib retracement. Related Reading: How Litecoin (LTC) Is Able To Muster A 5-Day Straight Rally Ethereum Bulls Try To Breach Resistance The recent support is set at $1,740.63 with the resistance at the $1,802.12. The bulls have consistently tried to target $1,802.76 resistance to continue the rally. But as the graph shows, the rally has stagnated and the bull now tries to consolidate the position. Two things might happen while ETH’s price stabilizes; (1) the resistance will be pierced on a later day and will rally again, or (2) the price breaks the $1,740 support and drops. If the price pierces the 61.80% Fib level, then the bulls will gain momentum and may reach $2,000 in a few days’ time. But the indicators say otherwise. The CCI and Stochastic RSI numbers indicate a slow down in trend price. As of writing, the CCI is at 16.69 and Stoch RSI at 16.17 indicating a small sell-off movement. If the bulls manage to gain momentum once again, then the price might jump and pierce to the next resistance level at the 61.80% Fib level. If the price goes down however, we can expect the support to be at the $1,662.31 range. This is a crucial point in ETH’s history pre-merge. If the bulls fail to at least consolidate the price at the $1,740 support line then there will be a large chance for a downward price reversal. This would inherently have an effect on ETH’s price post-merge. Crypto total market cap at $1.02 trillion on the daily chart | Source: TradingView.com Featured image from Crypto News, Chart from TradingView.com

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