2 November 2024
Ethereum Price Goes To $1,000 And Expected To Grow More
Ethereum price went up by 25% and it even broke $1,000 against the US Dollar. Currently, Ethereum is trading at a strong uptrend, and also the monthly chart suggests a test of $1,200 in the near term.
In the last two days, we showed a huge increase in Ethereum price that broke the $700 resistance level. The price went up by 25 percent breaking many important hurdles of $800.
The price started to break when Ethereum was trading around $500 on the monthly chart of ETH/USD. Once the price increased to $600 and $700 level it increased rapidly. Ethereum saw a decent close above the $750 level and the 100-month simple moving average.
Ethereum was able to go above the 50% Fib retracement level of the main decline from the $1,595 all-time high to the $82 swing low. Ethereum is now trading at $1,002 levels.
![[resize output image]](https://im7.ezgif.com/tmp/ezgif-7-dd10d7809135.png)
By looking at the chart, the bulls are eyeing a clear break above the $1,050 and $1,080 levels. If bulls succeed, the next price will be near $1,200 or $1,238 levels.
If Ethereum fails, it will start a downside correction, an initial support on the downside might be near the $950 level. The first major support is near the $920 level.
If bulls couldn’t hold the level and the ETH starts to decline it can go to the $950 level. However, the main breakout zone was near $840, which is now likely to act as strong support. If there are any more losses it might drop to the $750 level.
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