Ether’s price achieved a new milestone by moving above $1,000 against the US dollar. Both ETH/USD and ETH/BTC are showing bullish signs.
Ether gained traction and was able to move above the $1,000 mark at a few exchanges against the US dollar.
There are two major bullish trendlines forming with support at $920.00 and $840.00 on the 2-hour chart of ETH/USD.
ETH/BTC also surged higher and was able to move above the 0.0650BTC resistance.
Technically, the 2-hour chart indicators are gaining momentum in the bullish territory.
ETH/USD to Settle above $1,000?
In the Ethereum Forecast 2018 article, we discussed ETH/USD moving above the $1,000 milestone level. The pair gained solid bullish momentum during the past two days, and today it was able to move above the $1,000 level at a few exchanges. As of writing, the average price high was $996.67.
Similarly, ETH/BTC also gained a lot of momentum and was able to move back above 0.0600BTC after completing a correction. The upside move was strong since the pair also broke the 0.0680BTC resistance and is currently approaching the 0.0700BTC level.
Looking at the 30-minute chart of ETH/USD, there is a clear major bullish trend forming above $950.00. The pair traded above yesterday’s high and traded to a new all-time high of $996.67 (average price).
During the upside move, the pair broke the $950.00 resistance to move toward $1,000. Should the current momentum stay intact, there can be more gains in Ether’s price above the mentioned $1,000 level.
Moving up to the 2-hour chart, there are two major bullish trendlines forming with support at $920.00 and $840.00. Both trendlines are significant and are likely to prevent downsides from the current levels.
On the upside, ETH/USD will most likely attempt to move past and settle above $1,000. Above the mentioned $1,000 level, the pair could accelerate gains toward the $1,040 and $1,100 levels.
Important Resistance Levels
$1000.00 and $1100.00
Important Support Levels
$950.00 and $920.00
The RSI is heading into the extreme overbought conditions with no sign of a downside correction.
The MACD is gaining heavy momentum in the bullish zone.
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets
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