Ethereum traded to a new all-time high near $1,870 before correcting lower against the US Dollar. ETH price is holding gains and it is likely to accelerate higher towards $2,000.
- ETH price traded in a strong uptrend and climbed above $1,850 lower against the US Dollar.
- The price is trading nicely above the $1,750 level and the 100 simple moving average (4-hours).
- There is a major bullish trend line forming with support near $1,800 on the 4-hours chart of ETH/USD (data feed via Kraken).
- The pair is likely to continue higher above the $1,850 and $1,900 levels in the coming sessions.
Ethereum is Holding Gains
This past week, bitcoin and ethereum saw a steady increase above $1,700 and $45,000 respectively against the US Dollar. ETH traded to a new all-time high near $1,870 before it started a short-term downside correction.
The price traded below the $1,800 and $1,780 support levels. However, the bulls were active above the $1,750 level. A low is formed near $1,761 and the price is currently consolidating well above the 100 simple moving average (4-hours).