Ethereum Price Rally In Jeopardy? Decoding Key Hurdles To Fresh Increase<\/title>\n<meta name=\"description\" content=\"Ethereum price started a fresh increase from the $1,900 support. ETH is now facing resistance near $2,020, above which it could accelerate higher.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-rally-in-jeopardy-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Price Rally In Jeopardy? Decoding Key Hurdles To Fresh Increase\" \/>\n<meta property=\"og:description\" content=\"Ethereum price started a fresh increase from the $1,900 support. 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Decoding Key Hurdles To Fresh Increase\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-rally-in-jeopardy-2020\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-rally-in-jeopardy-2020\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/11\/iStock-952510084.jpg?fit=1481%2C708\",\"datePublished\":\"2023-11-20T04:08:05+00:00\",\"dateModified\":\"2024-06-11T06:57:08+00:00\",\"description\":\"Ethereum price started a fresh increase from the $1,900 support. 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{"id":561454,"date":"2023-11-20T04:08:05","date_gmt":"2023-11-20T04:08:05","guid":{"rendered":"https:\/\/uniquehot.com\/?p=561454"},"modified":"2024-06-11T06:57:08","modified_gmt":"2024-06-11T06:57:08","slug":"ethereum-price-rally-in-jeopardy-2020","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-rally-in-jeopardy-2020\/","title":{"rendered":"Ethereum Price Rally In Jeopardy? Decoding Key Hurdles To Fresh Increase"},"content":{"rendered":"

Ethereum price started a fresh increase from the $1,900 support. ETH is now facing resistance near $2,020, above which it could accelerate higher.<\/em><\/p>\n

\n
Ethereum found support near $1,900 and started a decent increase.<\/li>\n
The price is trading above $1,980 and the 100-hourly Simple Moving Average.<\/li>\n
There is a major bearish trend line forming with resistance near $2,020 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could start a strong increase if it clears the $2,020 resistance zone.<\/li>\n<\/ul>\n
Ethereum Price Faces Hurdles<\/h2>\n
This past week, Ethereum price started a downside correction from the $2,120 resistance. ETH declined below the $2,020 and $2,000 support levels. It even spiked below the $1,920 support.<\/p>\n
A low was formed near $1,905 and the price started a steady increase, like Bitcoin<\/a>. There was a move above the $1,950 and $1,980 resistance levels. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $2,092 swing high to the $1,905 low.<\/p>\n
Ethereum is now trading above $1,980 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price is facing resistance near the $2,020 zone.<\/p>\n
There is also a major bearish trend line forming with resistance near $2,020 on the hourly chart of ETH\/USD. The trend line is near the 61.8% Fib retracement level of the downward move from the $2,092 swing high to the $1,905 low.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
A close above the $2,020 resistance could start another strong increase. The next resistance is near $2,090, above which the price could aim for a move toward the $2,120 level. Any more gains could start a wave toward the $2,200 level.<\/p>\n
Another Drop in ETH?<\/h2>\n
If Ethereum fails to clear the $2,020 resistance, it could start a fresh decline. Initial support on the downside is near the $1,980 level and the 100-hourly Simple Moving Average.<\/p>\n
The next key support is $1,950. The main support is $1,900. A downside break below the $1,900 support might trigger more losses. In the stated case, Ether could drop toward the $1,850 support zone in the near term. Any more losses might call for a drop toward the $1,800 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n
Major Support Level \u2013 $1,950<\/p>\n
Major Resistance Level \u2013 $2,020<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price started a fresh increase from the $1,900 support. ETH is now facing resistance near $2,020, above which it could accelerate higher. Ethereum found support near $1,900 and started a decent increase. The price is trading above $1,980 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $2,020 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a strong increase if it clears the $2,020 resistance zone. Ethereum Price Faces Hurdles This past week, Ethereum price started a downside correction from the $2,120 resistance. ETH declined below the $2,020 and $2,000 support levels. It even spiked below the $1,920 support. A low was formed near $1,905 and the price started a steady increase, like Bitcoin. There was a move above the $1,950 and $1,980 resistance levels. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $2,092 swing high to the $1,905 low. Ethereum is now trading above $1,980 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,020 zone. There is also a major bearish trend line forming with resistance near $2,020 on the hourly chart of ETH\/USD. The trend line is near the 61.8% Fib retracement level of the downward move from the $2,092 swing high to the $1,905 low. Source: ETHUSD on TradingView.com A close above the $2,020 resistance could start another strong increase. The next resistance is near $2,090, above which the price could aim for a move toward the $2,120 level. Any more gains could start a wave toward the $2,200 level. Another Drop in ETH? If Ethereum fails to clear the $2,020 resistance, it could start a fresh decline. Initial support on the downside is near the $1,980 level and the 100-hourly Simple Moving Average. The next key support is $1,950. The main support is $1,900. A downside break below the $1,900 support might trigger more losses. In the stated case, Ether could drop toward the $1,850 support zone in the near term. Any more losses might call for a drop toward the $1,800 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $1,950 Major Resistance Level \u2013 $2,020<\/p>\n","protected":false},"author":67,"featured_media":510573,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[65296,1946,8686,78803],"class_list":["post-561454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Price Rally In Jeopardy? 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