Ethereum Price Forecast: ETH rocks towards the gigantic $2,000 milestone

[Micky]

Ethereum holds above $1,900 while bulls keep their eyes on $2,000.
The least resistance path is upwards, as reinforced by the MACD on the 4-hour chart.
Ethereum’s uptrend to $2,000 will be invalidated if losses extend under $1,900.
Ethereum is gradually nurturing an uptrend towards $2,000 despite the frequent rejections from new all-time highs. At the time of writing, ETH is teetering at $1,910 after losing steam at $1,954. The ongoing correction risks dropping into the $1,800 range; thus, there is a need for higher support.

The 4-hour chart confirms that the pioneer altcoin still has a bullish impulse and is likely to resume the uptrend toward $2,000. Meanwhile, the Moving Average Convergence Divergence (MACD) adds credibility to the uptrend.

It is essential to note that the MACD is a momentum oscillator applied in trading trends but rarely used to identify overbought and oversold conditions. The indicator presents itself on a chart with a couple of trendlines oscillating with no boundaries. Note that the crossover of these two lines is a trading signal resembling that of the average moving system.

Ethereum Price Forecast: ETH rocks towards the gigantic $2,000 milestone
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