Ethereum gained pace above the $1,940 resistance zone against the US Dollar. ETH even spiked above $2,000 and might extend gains in the near term. Ethereum started a recovery wave 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 bullish trend line forming with support near $1,975 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend gains if there is a close above the $2,000 resistance zone. Ethereum Price Gains 5% Ethereum remained supported above the $1,850 level. There was a steady increase and the bulls were able to push the price above the $1,920 resistance zone. The price even jumped above the $1,940 resistance and settled above the 100 hourly simple moving average. Finally, there was a spike above the $2,000 resistance and the price traded as high as $2,010. Ether is now consolidating gains near the $2,000 level. It is trading above the 23.6% Fib retracement level of the upward move from the $1,874 swing low to $2,010 high. There is also a connecting bullish trend line forming with support near $1,975 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com On the upside, an initial resistance is near the $2,000 level. The next major resistance is near the $2,040 level. A proper upside break above the $2,040 resistance might push the price further higher. In the stated case, ether price could rise tow...
