Ethereum Price Takes A Big Rise As It Approaches $2,000

Ethereum's drop below $2,000 has attracted more investors to the market. Short-term technical levels turn bullish as ether rises above $2,000. Ethereum lost significant ground after being rejected at $2,650 last week. The downtrend deteriorated as it broke the previous support at $2,400. Finally, the pioneering smart contract token extended its bearish leg below $2,000 until it reached the support bullish rate of $1,800. At the time of writing, Ether is trading at $2,015 from levels below $2,000 in its initial recovery phase. Securing support at this level is the priority of the bulls and will keep buyers focused on pushing Ether up to $3,000. Ethereum is gaining traction after a massive drop. The Moving Average Convergence Divergence (MACD) confirms the bullish outlook based on the four-hour chart. After revisiting the negative territory, the MACD is showing signs of a rebound. If the MACD line (blue) goes above the signal line, we wait for the call to be confirmed. Similarly, Ethereum's uptrend will continue as the bulls target $3,000. ETH/USD Four-Hour Chart ETH/USD Price Chart from Tradingview The Relative Strength Index (RSI) rebound from oversold to the midline highlights the increasing aggression of the bulls. Sitting above the average level will solidify their impact on the market, while approaching overbought ETH could strengthen significantly upwards. It is worth noting that support must remain at $2,000 to avoid a reversal to $1,800. Additionally, several resistance levels need to be lowered on the four-hour chart, including $2,100, $2,400, and the 200 Simple Moving Average (SMA) to keep the bulls' short-term mission at $3,000 achievable. Ethereum Price Intraday Levels Spot: $2,015 Trend: Rising Volatility: High Resistance: $2,100 and $2,400 Support: $2,000 and $1,800 Post-Ethereum price has been heavily bullish as it first approaches $2,000 on Coingape.

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