Previous article ETH price analysis: Ether targets $2k again after a recent rally Next article Worlds First Bitcoin ICO Presale Ends 15th March Buy Now Buy Now Worlds First Bitcoin ICO Presale Ends 15th March Buy Now Buy Now Home Latest Cryptocurrency News ETH price analysis: Ether targets $2k again after a recent rally ETH price analysis: Ether targets $2k again after a recent rally By Hassan Maishera - min read Updated 21 March 2023 Ether rallied by over 5% yesterday to reach the $2k level again and is now sitting just below that figure The cryptocurrency market performed well yesterday, with Bitcoin surpassing the $30k level to trade above $32k again. Ether jumped by over 5% yesterday after the losses it recorded on Tuesday. By the end of Wednesday, ETH was trading at $1,996 per coin. It began Wednesday in a bearish tone, falling to an intraday low of $1,754.27 before the rally began. ETH was able to steer clear of the 62% FIB of $1,725 and its first major support level at $1,724. The rally saw Ether reach a late intraday high of $2,033.16. Although it has dropped below the $2k mark again at the time of writing, Ether looks primed to rally again, especially if it gains the support of the broader cryptocurrency market. #Bitcoin is getting into this range, which we've been acting in for days. Resistance of that range seems to be approaching. As long as #Bitcoin sustains above $31K, all good. pic.twitter.com/b6YQxqWNfQ — Michaël van de Poppe (@CryptoMichNL) July 21, 2021 ETH price outlook The ETH/USD 4-hour chart is a very bullish one at the moment, with the general momentum from the market expected to push it higher in the coming hours. ETH would need to steer clear of the $1,928 pivot point to surpass the first major resistance level at $2,102. If ETH gets support from the broader crypto market, it could surpass Wednesday’s high of $2,033.16 and likely reach $2,050. Barring an extended market rally, the first major resistance level will likely limit further upside. ETH/USD chart. Source: Coinalyze However, if there is a market-wide crypto rally, Ether could bring the resistance at $2,250 into play before a pullback. The cryptocurrency’s second major resistance level sits at $2,207. On the other hand, if Ether drops below the $1,928 mark, the bulls would be forced to defend the first major support level at $1,823. Unless there is a massive sell-off, Ethereum should comfortably stay away from its 62% FIB of $1,725, with the second major support level currently sitting at $1,649. Share this article Categories Analysis Tags Ethereum News