Ethereum Price Prediction: ETH bulls need to tackle $1,700 before eyeing $2,000
ETH/USD picks up bids near intraday high, extends Sunday’s bounce off one-month low.
- 21-day SMA, past help line from late-December and 23.6% Fibonacci retracement watch quick potential gain.
- Bears will have a rough street on their return.
Ethereum bulls are going full speed ahead while assaulting the $1,600 level, right now up 1.77% intraday close $1,595, in the midst of beginning Thursday. In doing as such, the altcoin broadens recuperation moves from a one-month low, set apart on Sunday.
Likewise preferring the ETH/USD bulls could be the subsiding bearish predisposition appeared by the MACD just as supported exchanging past key Fibonacci retracement levels of late-December 2020 to February 20, 2021, potential gain.
Notwithstanding, an intermingling of 21-day SMA, a 10-week-old past help line and 23.6% Fibonacci retracement will test the bulls around $1,700 prior to giving them a go to the $2,000 limit.
On the off chance that at all the ETH/USD blurs potential gain force beneath $1,700, it hazards declining back to half Fibonacci retracement level of $1,300 and afterward to the $1,120 level containing 61.8% of Fibonacci retracement.
Likewise going about as a drawback channel is the mid-January low close $980 and the $1,000 mental magnet.
By and large, Ethereum bulls are moving their sleeves for a new record high however need to approve their solidarity.
ETH/USD day by day diagram