Ethereum Remains Strong, Why ETH Could Soon Test $2,000

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).

Read the full article at newsbtc.com