Ethereum Price Analysis: ETH investors hope for $2000 mark soon, 200-DMA is yet to come

• Ethereum coin (ETH) price is moving towards the next round of $2000.
• Major moving averages like 20, 50, and 100 are well below the current price.
• Buyers rallied ETH coins well above the $1400 support level.

Ethereum (ETH) completed gains from the previous session and is currently trading in a fairly tight range. The value is stabilizing above the short-term resistance line of $1,655. This happened as the bulls attempted to maintain Wednesday’s gains and encountered obstacles at the upper levels (which are mentioned in the chart).

Ethereum has been in an uptrend since last week. The daily price scale shows a high-low configuration. As a result, the ETH crypto has rallied about 20% over the past ten days and the weekly price candle is still forming a strong bullish candle. Meanwhile, the Ethereum coin is trading at $1726 against the USDT pair at the time of writing.

The $1400 level has provided intermittent support for buyers and is still considered an important area of ​​protection for buyers. Furthermore, the conceptual round level of $2000 is a significant bullish hurdle for ETH coin. On the weekly timeframe, the bulls are aiming to close the weekly price candle above the 20-DMA.

According to CMC, the market cap is up 1.4% over the past 24 hours to $211.17 billion. Major moving averages like 20, 50, and 100 are well below the current price on the daily chart.

The RSI will reach overbought territory

Buyers are playing aggressively as the RSI indicator has reversed from lower levels. Now the RSI is moving towards the highest overbought zone. Moreover, the MACD indicator aims to move above the neutral zone after a bullish crossover in the context of the daily price scale.

Conclusion

Ethereum (ETC) is showing higher momentum as bulls continue to hoard crypto. The bulls are using the 20-day moving average to provide support. The RSI indicator is moving towards an overbought zone, which suggests a positive trend for Ethereum.

Support Levels – $1,400 and $1,000

Resistance levels – $2,000 and $3,000

Disclaimer

The views and opinions of the author or those referred to in this article are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading in crypto assets involves risk of financial loss.

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