Ethereum Crypto Price Prediction 2022 - Will ETH Surpass $2,000?

cryptonews.com:

Ethereum holders have been drumming up a lot of excitement and interest as the Merge event nears. Whilst Ethereum is down 6.81% on the 24-hour time frame, ETH has still moved up 2.96% against Bitcoin. 

Will Ethereum surpass the $2,000 price levels once again? 

Since November 2021 Ethereum has been in a macro-downtrend and has struggled to see sustenance beyond the 20-day moving average on the weekly time frame. 

Many speculate Ethereum had already hit its bottom at $882 on the 18th June, this is a total correction of 81.67% from the all-time high of $4,871 set on the Coinbase exchange on the 10th November 2021. 

Resilient investors who scooped up Ethereum at $882 would still be up by 80% today even with the persisting bearish sentiment in the crypto markets. 

Just recently Ethereum lost a critical support level of $1,704 which has now been flipped into resistance. With the bears temporarily in control, there is a threat that we could see Ethereum head down to the $1,411 support range if there is negative price continuation. 

If however, the Merge is a succesful price catalyst and the resistance of $1,704 is broken there is a good chance that Ethereum might rally up to $2,174 which is a resistance written in from the 23rd January 2022. 

Ethereum now resides within a horizontal channel which is a consolidation pattern. The recent loss of price structure reminds me of the 7th of September where Ethereum came down to $1,490 and then rallied back up to $1,790.

As we can see, there is a good chance that we might see a bullish reversal here at these lower levels which could soar the price of Ethereum back towards the $2,000 levels of the bulls can take full control.

The relative-strength index also sits at 33.26 which is leaning towards