Ethereum price is trading in a positive zone above $1,850 support against the US Dollar.ETH could rally toward $2,000 if it stays above the $1,880 support.- Ethereum is consolidating and facing resistance near the $1,925 level.- The price is trading above $1,850 and the 100-hourly Simple Moving Average.- There is a key contracting triangle forming with resistance near $1,920 on the hourly chart of ETH/USD (data feed via Kraken).
– The pair could rally again if it clears the $1,925 resistance.Ethereum Price Remains Supported Ethereum’s price started a fresh increase from the $1,800 support zone.ETH gained pace and was able to settle above the $1,850 resistance zone, similar to Bitcoin.
The upward move was such that the price even cleared the $1,880 resistance.A high is formed near $1,940 and the price is now consolidating gains.
It is trading near the 50% Fib retracement level of the recent increase from the $1,873 swing low to the $1,940 high.Ether price is also well above $1,850 and the 100-hourly Simple Moving Average.Besides, there is a key contracting triangle forming with resistance near $1,920 on the hourly chart of ETH/USD.Source: ETHUSD on TradingView.com Immediate resistance is near the $1,925 level and the triangle region.A close above the $1,925 level might start a fresh rally.In the stated case, the price could rise toward the $1,960 resistance.
Any more gains could send Ether toward the $2,000 resistance.Finally, if the bulls remain in action, there could be a drift toward the $2,120 level where the bears might take a stand and protect more gains.Fresh Decline in ETH? If Ethereum fails to clear the $1,925 resistance, it could start another decline.Initial support on the downside is near the $1,890 level and triangle trend line.The next major support is near the $1,880 zone or the 100-hourly Simple Moving Average.
It is close to the 76.4% Fib retracement level of the recent increase from the $1,873 swing low to the $1,940 high, below which ether price might revisit the $1,840 support zone.Any more losses may perhaps take the price toward $1,800 in the near term.Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is above the 50 level.Major Support Level – $1,880 Major Resistance Level – $1,925 Aayush Jindal Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist.He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer.He also founded an IT company and works rigorously in providing high-quality software services.Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets.Follow him on Twitter @AayushJs.Leave a Reply [Cancel reply](/ethereum/ethereum-price-looks-set-for-another-leg-over-2k/#respond) Leave a Reply Bitcoin CryptoSlate wMarket Update: Market volatility swings Bitcoin price wildly in the last 24 hours CryptoSlate wMarket Update: Market volatility swings Bitcoin price wildly in the last 24 hours Oluwapelumi Adejumo · 2 hours ago · 3 min read The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.3 min read Updated: April 27, 2023 at 12:38 pm Cover art/illustration via CryptoSlate In the last 24 hours, the cryptocurrency market cap saw net outflows of $10 billion and currently stands at $1.20 trillion — down 0.96% from $1.21 trillion.
Bitcoin’s market cap rose 0.43 % to $563.18 billion during the period, while Ethereum’s market cap fell 1.24% to $227.40 billion.The top 10 cryptocurrencies saw mixed performance during the reporting period.The biggest gainers were Cardano and Bitcoin, which posted meager gains of less than 0.5%, respectively.Others like Dogecoin, BNB, Solana, Polkadot, Litecoin, and XRP lost more than 2%, respectively.
The market cap of Tether (USDT) and USD Coin (USDC) slightly grew to $81.61 billion and $30.73 billion, respectively.In contrast, Binance USD (BUSD) fell to $6.30 billion.Bitcoin In the last 24 hours, Bitcoin increased 0.1% to trade at $29,008 as of 07:00 ET.Its market dominance grew to 47% from 46.6%.During the reporting period, Bitcoin’s volatility wiped off over $300 million after rumors emerged that the U.S.government and bankrupt crypto exchange Mt.Gox were selling the asset.
CryptoSlate Insight reported that the wild price swings were due to an illiquid market.Ethereum Over the last 24 hours, Ethereum declined 1.52% to trade at $1,886 as of 07:00 ET.Its market dominance fell to 19.0% from 19.1%.The wild market performance saw ETH trade near $2,000 before bottoming at $1,792.Top 5 Gainers RSK Infrastructure Framework RIF is the day’s biggest gainer, growing 12.64% over the last 24 hours to $0.13968 as of press time.The filesharing token is down 10% in the previous 30 days.Its market cap stood at $134.1 million.
MultiversX EGLD grew 11.73% over the last 24 hours to $45.4320 as of press time.The Binance Chain-based token has risen over 13% in the previous seven days.Its market cap stood at $1.15 billion.inSure SURE gained 10.73% to trade at $0.00626 at the time of writing.Despite today’s upside, the blockchain network has been down 21% in the past month.Its market cap stood at $167.61 million.Kaspa KAS rose 9.64% to $0.03001 over the last 24 hours.
The token has increased by nearly 10% in the previous 30 days.Its market cap stood at $545.47 million.Injective INJ is on the top gainer’s list for the second consecutive day.The token is up 8.7% to $8.15165 as of press time.
Its market cap stood at $713.13 million.Top 5 Losers tomiNET TOMI is the day’s biggest loser, falling 17.66% to trade at $2.98535 at the time of writing.The privacy token is up more than 30% in the last 30 days.Its market cap stood at $118.35 million.
Hex HEX declined 6.71% to $0.00589 over the reporting period.Its market cap stood at $9.89 billion.ssv.network SSV plunged 6.49% to trade at $0.23853 as of press time.The token has risen by more than 100% in the previous year.Its market cap stood at $264.43 million.Solar SXP decreased 6.15% to $0.57118 over the reporting period.Its market cap stood at $321.3 million.Threshold T dropped 5.81% to trade at $0.03166.
The Ethereum-based token is down 22% over the last 30 days.Its market cap stood at $272.98 million.Ethereum price saw swing moves from the $1,800 support against the US Dollar.ETH is again rising and might aim for a retest of the $2,000 resistance.- Ethereum is showing a lot of strength above the $1,800 support zone.- The price is trading above $1,850 and the 100-hourly Simple Moving Average.- There is a connecting bearish trend line forming with resistance near $1,925 on the hourly chart of ETH/USD (data feed via Kraken).- The pair could rally further if it clears the $1,925 resistance.
Ethereum Price Holds Ground Ethereum’s price saw a couple of swing moves from the $1,800 support zone.First, ETH rallied above the $1,900 resistance.However, it faced a strong selling interest near $1,960 and reacted to the downside.There was a sharp 10% drop below $1,900, similar to Bitcoin from $30,000.
The price retested the main $1,800 support zone.A low is formed near $1,787 and the price is again rising.It is trading above $1,850 and the 100-hourly Simple Moving Average.Ether is also trading above the 61.8% Fib retracement level of the recent drop from the $1,964 swing high to the $1,787 low.
Immediate resistance is near the $1,920 zone.Besides, there is a connecting bearish trend line forming with resistance near $1,925 on the hourly chart of ETH/USD.
The trend line is close to the 76.4% Fib retracement level of the recent drop from the $1,964 swing high to the $1,787 low.A close above the $1,925 level might spark more bullish moves.Source: ETHUSD on TradingView.com In the stated case, the price could rise toward the $1,960 resistance.Any more gains could send Ether toward the $2,000 resistance, above which the bulls might aim for a move toward $2,120.Fresh Decline in ETH? If Ethereum fails to clear the $1,925 resistance, it could start another decline.Initial support on the downside is near the $1,880 level and the 100-hourly Simple Moving Average.
The next major support is near the $1,840 zone, below which ether price might revisit the $1,800 support zone.Any more losses may perhaps take the price toward $1,720 in the near term.Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.Hourly RSI – The RSI for ETH/USD is above the 50 level.Major Support Level – $1,880 Major Resistance Level – $1,925 Aayush Jindal Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist.He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer.He also founded an IT company and works rigorously in providing high-quality software services.Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets.
Follow him on Twitter @AayushJs.Analysis Bitcoin, Ethereum Technical Analysis: BTC Moves Back Above $29,000, After Customers Withdraw $100 Billion From First Republic Bank Bitcoin was back above $29,000 on Wednesday, as markets continued to react to concerns over First Republic Bank.It was reported that customers withdrew around $100 billion in deposits from First Republic in March.Ethereum was also higher on the news, climbing back above $1,900.Bitcoin Bitcoin (BTC) rebounded strongly on Wednesday, as markets reacted to the news that deposits in First Republic Bank fell by $100 billion last month.BTC/USD surged to a peak of $29,121.97 earlier in today’s session, following a low of $27,217.17 the day before.This move has pushed bitcoin to its highest point in the last seven-days, when it was trading above $30,000.Overall, the surge in price comes as bulls rejected a breakout below a long-term support point at $27,000 on Tuesday.
The relative strength index (RSI) also bounced from a floor of its own at the 44.00 mark, and is now tracking at 54.09.A ceiling of 55.00 will likely act as a checkpoint for bulls, and should they move beyond this, there is a strong possibility that BTC climbs to $30,000.Ethereum In addition to BTC, ethereum (ETH) was also in the green, as prices snapped a three-day losing streak.Following a low of $1,805.32 on Tuesday, ETH/USD jumped to a peak at $1,919.72 earlier in the day.As a result of this move, ethereum has hit a five-day high, with price now hovering around a resistance point at $1,915.The last time ETH bulls broke this ceiling was on April 13, and on the occasion the price went on to reach an 11-month high above $2,100.In order for something similar to happen this go round, the RSI would need to overcome a hurdle at the 53.00 level.At the time of writing, the index is tracking at 51.64.
Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Should the banking crisis worsen, could we see ethereum hit $3,000 in May? Leave your thoughts in the comments below.Eliman Dambell Eliman was previously a director of a London-based brokerage, whilst also an online trading educator.Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only.It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies.
Bitcoin.com does not provide investment, tax, legal, or accounting advice.
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