If you're out there and wondering how high can the price of ethereum get to within the next couple of weeks, then you just stumbled on the right channel, as we're, going to be talking extensively on the ongoing battle between The bulls and the bears in the market: it's.
No doubt that ethereum is on the verge of breaking out of its current all-time high, but first it has to break the 50-day resistance window as the price of ethereum hovers around 1 500. The question that comes to the mind of most crypto enthusiasts and financial investors remains.
This - is ethereum ready to hit the 2000 usd benchmark. Given ethereum's, recent sustenance on the uptrend above 1 400. Those who are bullish on ethereum the bulls have been fighting to supersede the current resistance level from all indications.
Any increase above the ascending channel's. Middle boundary will initiate the progress to newer gains regarding the price of the ethereum token, subsequently stabilizing at the much anticipated two thousand dollars for a single ether.
Obviously, if the bulls overcome this hurdle, then the journey towards one thousand six hundred dollars is close at hand. At the same time, there has to be an increased focus towards stepping above the seller congestion zone at sixteen hundred dollars to pave the way for gains tending towards the two thousand dollars price stability hi.
There welcome to crypto line. Today we're, going to be talking about ethereum's price analysis and how it battles resistance. In addition to what the bulls are saying in the space we're, also going to be looking at those indicators that could drive the price of ether to stabilize at the 2 000 benchmark within the next couple of weeks.
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So we know that the ethereum usd pair has been nursing today's, losses which is actually the heaviest in a week, while picking up bids at 1 490 amid wednesday. Nonetheless, the bullish outlook has been validated by the relative strength index, just as the indicators are slowly approaching.
The midline further movement towards the overbought area will confirm the bull's, influence of the price of ethereum. And yes, i know there have been all kinds of predictions out there regarding ethereum surprise fluctuations.
Some are extremely bullish, others are tending towards the negative, but who's right and what exactly is conceivable is what we're going to be covering in this video. So we're, going to be discussing the ethereum battle as we bring you up to speed as to why you need to be positive and remain that way, simply because you know better once again, if you're new to this channel.
Consider subscribing by hitting that button right under this video and give this video a thumbs up too, that's if you haven't already done so, while we all know that ethereum has not risen above the one thousand.
Seven hundred dollar threshold, since it's, dropped from its most recent all-time high slightly above two thousand dollars, while testing support at one thousand three hundred, however, there has been a follow-up retraction from the beginning of the week amid the increase in bull traps.
Frequency reaching an intraday high of one thousand six hundred dollars. Yesterday ether is looking to win back the attention of investors, showing more prospects to break out the 50-day resistance window to maintain a resistance of two thousand dollars from this chart.
We could see that ethereum's. Price has broken above both moving averages within the past 24 hours and, as this ensues, the bulls are getting ready to kickstart. The eagerly anticipated uptrend, but the bulls are likely to win this battle, even though showing a very promising signal towards an uptrend chances are that the price of ether would fall below the current 20-day exponential moving average.
This would signal a bearish sentiment, which is a direct indication that traders opinions are now moving from buying on dips to selling at rallies. If the bearers could sink the price below the 1 289 support, then they would gain the upper hand, and if that happens, the ethereum usd pair could correct to the 61.
8 fibonacci retracement level at 1026. Now i know the bears are not willing to give up any time soon, as they try to stall up the movement of the current levels. However, this negative trend could be avoided if the bulls can push and sustain the price above the 20-day ema.
So the bulls would wield dominance if they can propel the price of ethereum above 1708 dollars. Only then would the ethereum usd pair round up to about 2 000. A bearish double top pattern develops when an assets price tests, but fails to break out of a previous hurdle with a trough in between.
Usually the area formed by this pattern is known to indicate substantial selling pressure. However, if the price slices through the bearish narrative is ignored, but failure to break through this point is a direct indication that the price of ethereum is likely to drop significantly.
However, the second most significant cryptocurrency has stalled about one thousand six hundred and fifty dollars, resulting in the formation of a double top pattern, a correction to bring a stop to the v-shaped recovery on the four-hour chart is currently underway, so stay tuned.
At this point, we can bet that the price of ethereum would eventually settle at a resistance of two thousand dollars within the next couple of weeks. Given ethereum's, price has broken above both moving averages within the last 24 hours.
There's, no doubt about that, as at the time of recording the price of ethereum hovers around 1487. after losing support at the 1 600.. The 200 simple, moving average of about 1560 has greatly contributed to the selling pressure above 1 600.
. Taking a look at the 50 sma, you could ascertain that ethereum is looking to secure support and 152 within the next 48 hours. Apart from the candlestick formation indicating a battle of the bulls and bears overvalued relative strength, index conditions is also raising some doubts regarding the ethereum usd upside.
According to the daily chart, ethereum portrays a bounce inside a bearish chart pattern. The daily chart indicates the resistance entailed by the 50 simple moving average, as the price of ether continues to hover at an ascending parallel channel.
The pattern support has played a key role in preventing potential dip to 1 200 from earlier this week. More so ethereum enthusiasts and investors are seen to be leveraging the lower edge of the channel as a yardstick to enter into much higher gains.
Looking at both charts we saw today, we could see that ethereum will re-test the support at the channel's. Lower edge, nonetheless, if the buyer congestion zone is disrupted, a spiral turnaround is to be expected of the price of ethereum, as it tends towards 1 200, while praying for a formidable support.
So if you & # 39, re still wondering how high can aetherium get to within the next couple of weeks. Well, there you go so here's, a quick recap of what we've covered this video ethereum, currently trades at around one thousand four hundred and eighty dollars precisely 1488.
At the time, i'm, recording the sentence along with a relative change of 30 at the rate of two percent having a very low volatility, indicating a bullish trend, ethereum cut short, the uptrend to two thousand dollars on account of a double top pattern And an increased sma of 200, which is largely contributed to the ongoing overhead pressure, but then ether will circumvent losses to 1440 if the 50 sma support remains unbroken.
So if you're looking to get your hands on some ethereum, we think now is the time giving the moving average convergence divergence indicator is holding above the midline, and this is an indication that buyers are still in control.
Hence the bullish signal. Also, we might experience support above the 50 sma which will avert the potential losses to 1440 and 1 300 respectively. All in all, it is important to note that trading above the channel's.
Middle boundary. Resistance might be the long-awaited market drive to trigger a large amount of buy orders as ethereum skyrockets towards the 2 000 price margin. Again. This is cryptocurrency forecasting, always keep in mind that these predictions are based upon personal opinion and not entirely a certainty, and we are not financial advisors but crypto enthusiasts like yourself.
So always do your extra work before you buy into any cryptocurrency. We discuss here don't forget to drop your questions or suggestions in the comment section below and we'll. Try to respond to them as soon as we can.
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