Ethereum ETH price bulls take a breather after crossing $2000 for the first time ever.

The Ethereum confirms a rising wedge breakout on the four-hour chart.

The next ETH leg up eyes $2369 target route the $2500 mark.

ETH/USD pair has reversed from life-time highs of $2041, consolidating the latest upsurge before the next push higher.

ETH consolidating upsurge before the next higher push

At the time of writing, the world’s second-largest cryptocurrency is clinging onto the $2000 mark, up 2% on the day while rising nearly 11% over the week.

ETH/USD: Technical indicators call for further upside

The technical analysis graphs offer a constructive outlook for Ethereum, especially after a rising wedge breakout was confirmed on the four-hour timeframe.

Adding credence to the bullish pattern, the Relative Strength Index (RSI) has retreated from the overbought zone, hovering just below the 70 levels. This suggests that there is potential for the next ETH leg jump to the upside.

The upside pattern target is measured at $2369, although it could be a bumpy ride for the ETH bulls on their northwards journey.

An Immediate downside could likely be capped by the bullish 21-simple moving average (SMA) at $1902.



The next cushion is aligned at $1843, the 50-SMA, below which the pattern support at $1809 could be tested. A sustained break below the latter could invalidate the bullish breakout, as the sellers would then eye the 100-HMA at $1771.

The Berlin swapping hard fork was originally scheduled for June or July 2020 but was pushed back mainly due to centralization concerns around the Geth client on which most Ethereum nodes run. Moreover, Ethereum developers working on the current base layer of blockchain, often called Eth 1.x, have expressed strain from maintaining the client. 

The Ethereum hard fork has been preceded by multiple testnets. The update on which includes at least five Ethereum Improvement Proposals (EIP), will be shipped on four testnet networks before deployment as well.

Dash price has been on a steady upward trend

XLM/USD attempting another run to record highs and beyond