Ethereum’s price has found renewed momentum this week, with bulls attempting to extend the uptrend towards the key $2,000 level.
After consolidating under $1,700 for multiple weeks, Ethereum saw a bounce as Bitcoin rallied 15% higher in recent days. This allowed ETH to clear crucial resistance levels at $1,750 and $1,800.
Keypoints
- Ethereum price has started a decent increase after Bitcoin’s 15% rally, now trading above $1,780.
- ETH price cleared the $1,750 and $1,800 resistance levels to reach a high of $1,849 before consolidating.
- Key support lies at $1,750 where a bullish trendline has formed on the hourly chart.
- Resistance is seen at $1,850 and $1,880 levels. Breaking $1,880 could accelerate gains toward $2,000.
- The hourly MACD is gaining momentum in the bullish zone, supporting the uptrend.
- However, failure to clear overhead resistances could lead to a downside correction. Strong support lies at $1,700 and…
