Again, BitStil platform (reviewed here) comes out with news from the global crypto industry. This time they bring the following possible movements on Ethereum – the second largest coin by capitalization after Bitcoin, according to the coinmarketcap site stats.
As many of you know, altcoin prices are still following the main coin (BTC), but there will come a moment when they unlink each other and the main altcoins will begin their own way .. maybe we are already close … Will the price go higher or will first fall by 20% – 30% .. I’m sure – we’ll see in the coming days ..
Below the news from BitStil:
Ethereum price aims $2,000
Ethereum managed to remain stable above $1,750 against the US Dollar. ETH price is now eyeing an upside break above the $1,850 and $1,880 resistance levels.– Ethereum started a fresh increase after trading towards the $1,650 support zone.– The price is now trading well above $1,750 and the 100 hourly simple moving average.– There is a major bearish trend line forming with resistance near $1,825 on the hourly chart of ETH/USD (data feed via Kraken).– The pair could start a strong increase if there is a clear break above $1,825 and $1,850.Ethereum declined heavily below the $1,800 and $1,750 support levels. ETH price even dipped below the $1,700 level and the 100 hourly simple moving average.However, the bulls took a strong stand near the $1,650 zone. A low was formed near $1,665 and the price started a fresh increase. There was a break above the $1,750 resistance level and the 100 hourly simple moving average.Ether was able to climb above $1,800, but there was no break above $1,850. A high was formed near $1,835 and recently there was a minor dip. The price corrected below the $1,800 level. There was also a break below the 23.6% Fib retracement level of the recent wave from the $1,665 swing low to $1,835 high.The bulls are still active above the $1,750 support level. The 50% Fib retracement level of the recent wave from the $1,665 swing low to $1,835 high is also near $1,750.On the upside, the price is facing a couple of hurdles near $1,825 and $1,850. There is also a major bearish trend line forming with resistance near $1,825 on the hourly chart of ETH/USD. If ether price clears the trend line resistance and $1,850, the bulls are likely to aim a rally towards the $2,000 level.If Ethereum fails to clear the trend line resistance or $1,850, it could start a fresh decline. On the downside, the first major support is near the $1,750 level.The main support is near the $1,700 level. If there is a close below the $1,700 level, the bulls might lose control. In the stated case, there are chances of a drop towards the $1,650 support.Technical Indicators:– Hourly MACD – The MACD for ETH/USD is slowly gaining momentum in the bullish zone.– Hourly RSI – The RSI for ETH/USD is now above the 50 level.– Major Support Level – $1,750.– Major Resistance Level – $1,850.Join BitStil and bring your life quality to a whole new level!
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