Ethereum price gained a bullish momentum and cleared the $ 1,950 resistance against the US Dollar. According to renowned analyst Aayush Jindal, who made successful predictions, Ethereum's price tested $ 2,000 and will likely continue to rise further.
Ethereum price is pushing gains and recently tested the $ 2,000 resistance zone.
The price is now well above the $ 1,950 support and the 100 hourly simple moving average.
There is a key bullish trend line formed with support near $ 1,945 on the hourly chart of ETH / USD (data feed via Kraken).
The pair may correct the fall, but it is likely to remain stable near $ 1,950 and $ 1,900.
Aayush Jindal: Ethereum price may rise further now
Ethereum price remained from the $ 1,850 level and started to bullish. ETH broke through several key hurdles near the $ 1,920 and $ 1,950 resistance levels. There was also an increase above the $ 2,000 level and the price settled nicely above the 100 hourly simple moving average.
A high was formed around $ 2,008 and the Ethereum price is currently consolidating gains. The first downside support is near the $ 1,980 level, according to the analyst. The 23.6% Fib retracement level of the recent gain from $ 1,888 to $ 2,008 is also near the $ 1,980 level. There is also an important bullish trend line formed with support near $ 1,945 on the hourly chart of ETH / USD.
Here are the levels that the Ethereum price may see soon
The trendline is near the 50% Fib retracement level of the recent gain from the $ 1,888 low to $ 2,008. On the upside, ETH could struggle to break above the $ 2,000 resistance. A successful close above the $ 2,000 level could open the doors for a big boost in the upcoming sessions, according to the analyst. In the indicated situation, the price could easily rise to the $ 2,080 and $ 2,100 levels. If Ethereum price fails to break above the $ 2,000 and $ 2,010 resistance levels, it could correct lower.
The first downside support is near the $ 1,980 level, according to the analyst. The first major support is near the $ 1,950 level and the linked bullish trend line, according to the analyst. More losses could drag the ETH price towards the $ 1,880 support zone, according to the analyst. There is another bullish trend line waiting with a support around $ 1,880 on the same chart. Here, according to the analyst, the bulls will probably stand.
Technical indicators current view of Ethereum price
Hourly MACD: The MACD for ETH / USD is now gaining momentum in the bullish zone.
Hourly RSI: The RSI for ETH / USD is well above the 50 level.
Major Support Level: $ 1,950.
Major Resistance Level: $ 2,000.
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