ETH Breaks $2K: US Investors Step Up, But Is There an Obstacle?

• Ethereum’s price is showing a very bullish signal right now, with a couple of key resistance levels getting broken to the upside.
• The cryptocurrency has been struggling with the higher boundary of the symmetrical triangle and the $1800 level over the last few days, with the latter yet to be broken to the upside.
• If the breakout is valid, things could look much better for the crypto market in the coming months.

Ethereum Price Analysis

Ethereum’s price is currently exhibiting a very bullish signal, as several key resistance levels have been broken to the upside. This could indicate that things may start looking much better for the crypto market in upcoming months if this breakout proves to be valid.

Daily Chart

On daily chart analysis, Ethereum has rebounded sharply from its 200-day moving average around $1400 and climbed above its 50-day moving average at $1600. Additionally, it has recently managed to break through a large symmetrical triangle pattern located near these two averages. At present, it appears that Ethereum is attempting to breach its $1800 resistance level – if successful, this could likely push its value even higher than $2000.

However, in case a fake breakout happens then it may result in a pullback towards either of these two averages or towards its support area at $1300.

4-Hour Chart

The 4-hour timeframe gives us an even clearer picture of what’s happening with Ethereum’s price performance lately. Here too we can see that it has been facing difficulty in breaking above both its symmetrical triangle pattern and also breaching past its $1800 resistance level.

Moreover, there seems to be a bearish divergence between recent highs on RSI indicator which might suggest that some kind of correction could take place soon.

Factors Affecting Price Movement

It appears that US investors are slowly but surely stepping up their purchases of Ethereum as evidenced by an increasing volume of transactions taking place within the US markets. Moreover, institutions are also beginning to show more interest in cryptocurrencies as they realize their potential benefits.

< h2 >Conclusion
< p >Overall , Ethereum ’s current technical signals appear quite promising . A successful breakout above $ 1800 could lead prices towards values greater than $ 2000 . On other hand , if this does not happen then we might expect some sort of pullback before any further uptrends .