Ethereum

Bitcoin

Resistance

Ethereum price is moving higher above $1,850 against the US dollar. ETH is outperforming Bitcoin and might climb further higher toward the $2,000 resistance. 
<ul> 
 <li>Ethereum is gaining pace for a move toward the $2,000 level.</li> 
 <li>The price is trading above $1,850 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bullish trend line forming with support near $1,870 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could continue to move higher above the $1,920 and $1,950 levels.</li> 
</ul> 
<h2 id="ethereum-price-outperforms-bitcoin">Ethereum Price Outperforms Bitcoin</h2> 
Ethereum remained in a positive zone above the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-resistance-1825/" target="_blank" rel="noopener ">$1,780 support zone</a>. ETH started a fresh increase and was able to clear the $1,850 resistance, outperforming <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-faces-big-challenge-35250/" target="_blank" rel="noopener ">Bitcoin</a>. 
The price even spiked above the $1,900 level. It traded to a new multi-week high at $1,912 and the price is now consolidating gains. It is now trading near the 23.6% Fib retracement level of the upward move from the $1,781 swing low to the $1,912 high. 
Ethereum is now trading above $1,850 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $1,870 on the hourly chart of ETH/USD. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-3.png?resize=1024%2C468"><img decoding="async" loading="lazy" class="alignnone size-full wp-image-559260" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-3.png?resize=1024%2C468" alt="Ethereum Price" width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-3.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-3.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-3.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-3.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-3.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-3.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Ethereum-3.png?resize=1024%2C468?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/ETHUSD/" target="_blank" rel="noopener nofollow">ETHUSD on TradingView.com</a> 
On the upside, the price is facing resistance near the $1,900 level. The first major resistance sits at $1,920. If ETH surpasses the $1,920 resistance, it could rise toward the $1,950 barrier. Any more gains might open the doors for a test of the $2,000 handle. The next key resistance is near $2,050, above which the price could accelerate higher toward the $2,120 level. 
<h2 id="are-dips-limited-in-eth">Are Dips Limited in ETH?</h2> 
If Ethereum fails to clear the $1,920 resistance, it could start a downside correction. Initial support on the downside is near the $1,870 level or the trend line. 
The next key support is $1,850 or the 100 hourly SMA. It is also near the 50% Fib retracement level of the upward move from the $1,781 swing low to the $1,912 high. A downside break below the $1,850 support might spark a bearish wave. In the stated case, Ether could drop toward the $1,780 level. 
Technical Indicators 
Hourly MACD – 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 – $1,850 
Major Resistance Level – $1,920

Ethereum Price Grinds Higher and Liftoff Toward $2,000 Seems Imminent

Table of Contents

NewsBTC

Other articles published on Nov 6, 2023

Monero Price Prediction 2023-2028: Can XMR Price Reach $500?

What is DREP Coin?

Smart Contract Platform Llama Secures $6M in Seed Funding

Digital Asset Investment Products See Consecutive Inflows of $261 Million!

Everyday Brilliance Showcased as Google AI Shines in Pixel 8 Pro Campaign

GROK Tokens Inspired by Twitter’s Grok AI Chatbot Surge

Join our free newsletter for daily crypto updates!