{"id":28607,"date":"2022-05-31T02:58:46","date_gmt":"2022-05-31T06:58:46","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=28607"},"modified":"2022-05-31T02:58:52","modified_gmt":"2022-05-31T06:58:52","slug":"ethereum-tests-the-2000-mark-why-eth-could-extend-bull-run","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ethereum-tests-the-2000-mark-why-eth-could-extend-bull-run\/","title":{"rendered":"Ethereum Tests The $2,000 Mark, Why ETH Could Extend Bull Run"},"content":{"rendered":"\n<p>Ethereum gained pace above the $1,940 <a href=\"https:\/\/coinscreed.com\/staging\/how-to-use-support-and-resistance-to-call-better-trades-in-crypto.html\" target=\"_blank\" rel=\"noreferrer noopener\">resistance zone<\/a> against the US Dollar. ETH even surged above $2,000 and could extend gains in the short-term.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/106885738-1621490902783-gettyimages-1317812942-dsc01436-1024x683.jpeg\" alt=\"Ethereum Tests The $2,000 Mark, Why ETH Could Extend Bull Run | Coinscreed\" class=\"wp-image-28610\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/106885738-1621490902783-gettyimages-1317812942-dsc01436-1024x683.jpeg 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/106885738-1621490902783-gettyimages-1317812942-dsc01436-300x200.jpeg 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/106885738-1621490902783-gettyimages-1317812942-dsc01436-768x512.jpeg 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/106885738-1621490902783-gettyimages-1317812942-dsc01436-1536x1024.jpeg 1536w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/106885738-1621490902783-gettyimages-1317812942-dsc01436-2048x1365.jpeg 2048w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/106885738-1621490902783-gettyimages-1317812942-dsc01436-150x100.jpeg 150w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/106885738-1621490902783-gettyimages-1317812942-dsc01436-750x500.jpeg 750w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/106885738-1621490902783-gettyimages-1317812942-dsc01436-1140x760.jpeg 1140w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-key-takeaways\">Key takeaways<\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>Ethereum started a rally above the $1,920 and $1,940 levels.<\/li><li>The price is now trading above $1,920 and the 100 hourly simple moving average.<\/li><li>There is a connecting uptrend line forming with support near $1,975 on the hourly ETH\/USD chart (data feed via Kraken).<\/li><li>The pair could extend gains if there is a close above the $2,000 resistance zone.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Ethereum Price Gains 5%<\/h2>\n\n\n\n<p>Ethereum remained supported above the $1,850 level. There was a steady increase and the bulls managed to push the price above the $1,920 resistance zone.<\/p>\n\n\n\n<p>The price even jumped above the $1,940 resistance and settled above the 100-hourly simple moving average. Eventually, there was a rise above the $2,000 resistance, and the price traded as high as $2,010. Ether is now consolidating gains near the $2,000 level.<\/p>\n\n\n\n<p>It is trading above the 23.6% <a href=\"https:\/\/www.google.com\/search?q=fibonacci+retracement&oq=Fibonacci+retracement&aqs=chrome.0.0i131i433i512j0i512l9.1744j0j9&sourceid=chrome&ie=UTF-8\" target=\"_blank\" rel=\"noreferrer noopener\">Fibonacci retracement<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a> level of the bullish move from the $1,874 low to the $2,010 high. There is also a connecting uptrend line forming with support near $1,975 on the hourly ETH\/USD chart.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"472\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/image-214-1024x472.png\" alt=\"Ethereum Tests The $2,000 Mark, Why ETH Could Extend Bull Run | Coinscreed\" class=\"wp-image-28609\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/image-214-1024x472.png 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/image-214-300x138.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/image-214-768x354.png 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/image-214-1536x708.png 1536w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/image-214-150x69.png 150w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/image-214-750x346.png 750w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/image-214-1140x525.png 1140w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/image-214.png 1834w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>On the upside, initial resistance is near $2,000. The next major resistance is near $2,040. A proper bullish break above the $2,040 resistance could propel the price even higher. In the mentioned case, ether price can rise towards the $2,120 resistance zone. Further gains could perhaps send it towards the $2,200 resistance zone.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Any possible retracements?<\/h2>\n\n\n\n<p>If <a href=\"https:\/\/coinscreed.com\/staging\/how-to-stake-ethereum-using-lido-finance.html\" target=\"_blank\" rel=\"noreferrer noopener\">Ethereum <\/a>fails to stay above the $2,000 resistance, it could start a downside correction. Initial support on the downside is near the $1,975 zone and trend line.<\/p>\n\n\n\n<p>The next major support is near $1,940. It is close to the 50% Fibonacci retracement level of the bullish move from the $1,874 low to the $2,010 high. A break below $1,940 could propel the price to $1,900. The next major support is near $1,860 and the 100 hourly simple moving average.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Major technical indicators<\/h2>\n\n\n\n<p>Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n\n\n\n<p>Hourly RSI \u2013 The RSI for ETH\/USD is now well above the 60 level.<\/p>\n\n\n\n<p>Major Support Level &#8211; $1,940<\/p>\n\n\n\n<p>Major Resistance Level &#8211; $2,000<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum gained pace above the $1,940 resistance zone against the US Dollar. ETH even surged above $2,000 and could extend gains in the short-term. Key takeaways Ethereum started a rally above the $1,920 and $1,940 levels. The price is now trading above $1,920 and the 100 hourly simple moving average. There is a connecting uptrend [&hellip;]<\/p>\n","protected":false},"author":34,"featured_media":28611,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23],"tags":[],"class_list":["post-28607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/16524072437454.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/28607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=28607"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/28607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/28611"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=28607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=28607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=28607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}