Ethereum is near the $2,000 level against the US dollar. The price of ETH has suggested that gains might be extended in the foreseeable future. The asset is on the road to recovery of over $1,920 and $1,940. It currently stands at $1,920. This makes the hourly chart of the second-largest crypto on a bullish collecting trend near $1,975. If it succeeds in going above $2,000, this can lead to future gains.
The price even went over the 100 hourly simple moving average after breaking above the $1,940 barrier mark. Finally, the price broke through the $2,000 barrier mark, achieving $2,010 in the process. Ether is consolidating gains near the $2,000 mark at the moment.
It is a bullish sign, and the push caused by buyers has made the coin stand above the 20- SMA. This is a clear indication that buyers have driven the price momentum. Even though Ethereum has risen on the charts, indicators have sent a mixed signal. Ethereum can only entirely recover from the bearish argument if it maintains its purchasing strength.
If Ethereum fails to make it past $2,000, it can begin to fall. However, initial support is provided by the trend line and the $1,975 zone on the downside. The following support line is around $1,940. If the price fails to reach $2,000 and falls below $1,940, it might fall to $1,900. The following support is around the $1,860 mark.
On the other hand, Bitcoin has made a move above USD 32,000 but has yet to pass the $32,400 level. It started rising and then made a downward dip to below $32,000. On the downside, USD 31,200 provides immediate support. The next significant support level is around USD 30,500. On the upside, resistance could be faced at USD 32,200. In the short term, an apparent move over USD 32,400 might signal the start of a consistent increase.
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