Ethereum Price Key Indicators Suggest Strong Case For Rally To $2,200

Ethereum Price Key Indicators Suggest Strong Case For Rally To $2,200

Ethereum is moving higher toward the $2,000 zone.
The price is trading above $1,920 and the 100-hourly Simple Moving Average.
There is a connecting bullish trend line forming with support near $1,945 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could surge 5%-8% if there is a close above the $2,000 resistance in the near term.
Ethereum Price Climbs Higher
Ethereum’s price formed a base above the $1,850 support zone. ETH started a fresh increase above the $1,880 level and moved further into a positive zone, outperforming Bitcoin.

There was a clear move above the $1,950 resistance zone. The price even traded to a new multi-day high at $1,975 and is currently consolidating gains. There was a minor decline below the $1,965 level. The price tested the 23.6% Fib retracement level of the recent increase from the $1,889 swing low to the $1,974 high.