Market Context: Ethereum (ETH) has seen a sharp 17% rise in the last three weeks, challenging the $1800 resistance level.
Current Status: ETH is trading at $1801, with an intraday fall of 0.80%.
Resistance Level: The key resistance level is at the $2000 mark.
Technical Indicators - EMA: Rising EMAs suggest a potential golden crossover, which could support ETH in case of a pullback.
Technical Indicators - MACD: A declining gap between MACD and signal lines hints at a possible bearish crossover.
Recent Performance: ETH bounced off the $1520 support level with a double bottom reversal.
Potential Targets: If ETH breaks the $1800 resistance, it could aim for $2000.
Downside Risk: A reversal could lead to a retest of the 200-day EMA at $1716.
Market Sentiment: Overall sentiment is bullish, despite some indecisiveness at the $1800 level.
Long-Term Trend: ETH aims to continue its bullish trend into the end of 2023.
Market Catalysts: A bullish breakout above $1800 could significantly increase the chances of reaching the $2000 mark.
Long-Term Outlook: ETH price predictions remain optimistic for the foreseeable future.
Current Status: ETH is trading at $1801, with an intraday fall of 0.80%.
Resistance Level: The key resistance level is at the $2000 mark.
Technical Indicators - EMA: Rising EMAs suggest a potential golden crossover, which could support ETH in case of a pullback.
Technical Indicators - MACD: A declining gap between MACD and signal lines hints at a possible bearish crossover.
Recent Performance: ETH bounced off the $1520 support level with a double bottom reversal.
Potential Targets: If ETH breaks the $1800 resistance, it could aim for $2000.
Downside Risk: A reversal could lead to a retest of the 200-day EMA at $1716.
Market Sentiment: Overall sentiment is bullish, despite some indecisiveness at the $1800 level.
Long-Term Trend: ETH aims to continue its bullish trend into the end of 2023.
Market Catalysts: A bullish breakout above $1800 could significantly increase the chances of reaching the $2000 mark.
Long-Term Outlook: ETH price predictions remain optimistic for the foreseeable future.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.