ETH May Touch $2000 Level - BitcoinEthereumNews.com
Moreover, as the technical indicator Relative Strength Index (14) moves below the 70-level, the nearest support could be found at the $1600 level. If there is a bearish break below this support, ETH/USD could test another support before breaking towards the lower boundary of the chanel. However, any further losses could lead the price towards the support levels of $1000, $800, and $600. When compared with Bitcoin, the Ethereum price is moving bullishly, and the coin hovers around 7217 SAT. Therefore, if the price crosses above the upper boundary, there is a possibility that additional resistance levels may be created in the long term. However, the next resistance level above the current price is close to the 7400 SAT. More so, if the price crosses below the 9-day and 21-day moving averages, it could hit the critical support at 6000 SAT and below. ETHBTC - Daily Chart However, if the bulls put more pressure, a bullish movement above the upper boundary of the chanel may play out and the potential resistance level could be located at 8500 and above. Therefore, if the technical indicator Relative Strength Index (14) remains below the 70-level, the Ethereum price could break into the overbought region.