Ethereum’s Wild Ride: Is $2,000 Just Around the Corner?

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Ethereum, that sly creature of the crypto world, is charging ahead—oh yes, it’s clawing its way past the $1,750 mark, like a determined beast eyeing its next meal. Now, it seems intent on squaring off against the $1,880 resistance, its gaze fixed on the horizon of greener pastures.

  • Ethereum, ever the resilient one, has clung to its $1,720 support like a cat to its favorite sunbeam, starting yet another climb.
  • The price, now comfortably above $1,800, dances above the 100-hourly Simple Moving Average like a ballerina in an overpriced tutu.
  • Ah, but look! A short-term contracting triangle has appeared, taunting us with resistance at $1,860 on the hourly chart of ETH/USD (data feed via Kraken). What a tease.
  • Should it manage to scale the $1,880 wall, expect fireworks. Or maybe just more gains. Hard to say, really.

The ETH Bull: Not Gone, Just Napping

Ethereum, of course, couldn’t stay down for long. Above $1,720, it found the strength to rise again, like a phoenix—but with a slight techie twist. Ethereum broke past the $1,780 and $1,800 levels, setting the stage for something… potentially bigger. Who knows? Maybe even spectacular.

Let’s not forget the bulls—they’re out there. They pushed the price all the way up to $1,850. The highs! The glory! But then… a little hiccup—ETH is now resting, consolidating gains, pondering its next move. It tested the 23.6% Fib retracement of the recent surge from the $1,733 low to the $1,872 high, like a curious child poking a spider with a stick.

As it stands, Ethereum is comfortably above $1,800 and riding the 100-hourly Simple Moving Average like a trusty steed. However, pesky resistance lurks just above at $1,850, and a pesky contracting triangle (with its menacing $1,860 resistance) is lurking like a villain in a bad movie.

Next up: $1,880. Oh yes, but that’s not all. The first major hurdle is around $1,920. A decisive break above that could send Ethereum galloping toward $1,950. And beyond that? Oh, the elusive $2,000, where dreams (or nightmares, depending on your position) may be made.

But What If It All Goes South?

If Ethereum fails to conquer $1,880, it could be in for a downward journey—a real humbling. The first stop: a gentle descent to $1,840. Should it stumble further, the support at $1,800, along with the 50% Fib retracement from the $1,733 low to the $1,872 high, may offer some comfort. But let’s face it, things could get worse.

If Ethereum takes the plunge below $1,800, brace yourself for a fall to $1,765. And should the market’s mood turn truly grim, $1,720 might be next, followed by a potential nosedive to $1,650. A mere scratch. No biggie.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is like a caffeine addict—it’s gaining momentum in the bullish zone, all jittery and excited.

Hourly RSI – The RSI for ETH/USD has decided to sit comfortably above 50, taking a deep breath and considering its options.

Major Support Level – $1,800

Major Resistance Level – $1,880

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2025-05-02 07:29