Key Highlights
Ethereum price was impressive during the past few hours, as it created a new high above $19.00 against the US dollar.
It looks like ETH/USD may test $20.00, and even break if it the bulls remain in action.
The last 7-days chart is clearly signaling a bullish trend, which might continue in the short term.

Ether investors might be in a celebration mode as the price gained by more than $5 US dollar recently, and it looks unstoppable at present.

Can Ether Price Break $20.0?

Ether price continued to gain traction against the US Dollar, and formed a new high above $19.00. As per data feed provided by Kraken, the price traded around $19.50, just shy of $20.00. The stated level represents a major physiological level. If ETH/USD manages to test $20.0, then there is a possibility of a short-term reaction from sellers.

Ethereum Price Analysis Chart

Looking as the last 24-hours chart of ETH/USD, there was an upside thrust once the price broke the $18.75 resistance area. Currently, there is a bullish trend line formed on the same chart with support on the downside at $18.80. The price is consolidating at present, and looks like preparing for the next move.

The chances of a move towards $20.00 level is very high since looking at the last 7-day chart of ETH/USD, it is quite clear that the recent break was crucial. ETH consolidated for around 2 days (as shown in yellow on the chart) before moving higher. There is also a support trend line formed on the same chart, calling for a bullish bias.

Ethereum Price Analysis Chart 7D

In short, buying dips may be an option until ETH/USD tests $20.00.

Important Resistance Level


Important Support Level


Hourly RSI

The RSI is around the overbought levels, which is why the price is trading in a range at the moment.

Hourly MACD

The MACD is in the bullish zone, calling for more strength in ETH.
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Ether Technical Analysis

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