Ethereum price needs to cross one hurdle before it can reach $2,000

  • ETH/USD refreshes record top as bulls flirt with $1,900.
  • Six-week-old ascending trend line adds to the upside filters.
  • Previous resistance line from Saturday offers immediate support.

Ethereum bulls are unstoppable as the altcoin refreshes record top with $1,899 figure, still rising, amid the early Thursday.

Although bullish MACD joins the cryptocurrency pair’s upside break of a short-term resistance line, now support, to favor the ETH/USD bulls, an upward sloping trend line from January 10, at $1,960 now, may challenge the quote’s further upside.

In a case where the ETH/USD buyers dominate past-$1,960, which is more likely, the $2,000 psychological magnet will pop-up on their radar.

Meanwhile, pullback moves can eye to retest the previous resistance line, at $1,800 now.

If at all the ETH/USD sellers sneak it below $1,800 another support line from February 07, currently $1,725, will test the quote’s further weakness.

To sum up, Ethereum bulls have a bumpy road ahead while the downside moves have multiple filters.

ETH/USD four-hour chart

Trend: Bullish

 



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