Potential Price Increase of Ethereum: Is $2,000 the Next Target?
Ethereum recently experienced a price correction below the $1,780 level, but managed to maintain stability in the $1,800 zone. With the current market conditions looking stronger, Ethereum (ETH) may attempt to break through higher resistance levels.
Introduction: Stability and Potential Increase of Ethereum
After experiencing a decline, Ethereum (ETH) shows resilience by not falling below $1,725. From the low of $1,746, Ethereum (ETH) successfully broke through the resistance level of $1,770. This increase is also supported by a recovery above the 23.6% Fibonacci retracement level from the previous decline that started from $1,857 to $1,746.
Although Ethereum (ETH) briefly approached the $1,800 resistance, there has not been a stable close above that level. Currently, Ethereum (ETH) is trading above $1,770 and the simple moving average of every 100 hours. However, there are several hurdles to face near the $1,800 level, with the next key resistance at $1,820.
