TA: Ethereum Breaks $2K, Here’s What Could Spark A Decent Recovery

[Fawpac2]

Ethereum extended its decline and it even broke the $2,000 support against the US Dollar. ETH price is now recovering and it might correct higher towards $2,150.
Ethereum extended its decline below the $2,050 and $2,000 support levels.The price is now trading well below $2,200 and the 100 hourly simple moving average.
There was a break above a short-term declining channel with resistance near $1,950 on the hourly chart of ETH/USD (data feed via Kraken).The pair could recover above the $2,000 level, but the bears might protect the $2,200 zone.
Ethereum Price Turns Red
Ethereum remained in a bearish zone below the $2,300 level, similar to bitcoin. ETH even traded below the $2,200 and $2,100 support levels to move further into a bearish zone.
There was also a break below the $2,000 support zone and a close below the 100 hourly simple moving average. A low was formed near $1,847 and the price is now recovering higher. Ether price was able to climb above the $1,920 and $1,950 levels.There was a clear break above the 23.6% Fib retracement level of the of the recent decline from the $2,283 high to $1,847 low. Moreover, there was a break above a short-term declining channel with resistance near $1,950 on the hourly chart of ETH/USD.The pair is now showing a few positive signs above $1,950. An immediate resistance on the upside is near the $2,000 level. The first major resistance on the upside is near the $2,065 levelSource

[Senin]

Ethereum is currently at around $ 2,000, but the situation remains tense. Tomorrow's successful testing of the London hardfork as a stage of updating the ethereum network as part of the improvements to Ethereum 2.0 may change for the better. We hope that it will be so. We need some kind of positive information so that prices do not fall, but gradually begin to recover.