Ethereum Retreats From $2K, Why ETH Remains Strong Above $1,850

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Ethereum traded to a new all-time high near $2,040 before correcting lower against the US Dollar. ETH price is trading nicely above $1,850 and it is likely to continue towards $2,000.

ETH price climbed higher steadily and it surpassed the main $2,000 resistance against the US Dollar.
The price is trading nicely above the $1,850 level and the 100 simple moving average (4-hours).
There is a key bullish trend line forming with support near $1,860 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair is likely to continue higher above the $1,980 and $2,000 levels in the near term. Source url