Ethereum ETHUSDT Price Analysis April 7, 2023

ETHUSDT

Ether faced a decline after reaching 1,943 on April 5, which suggests that the bears are actively defending the psychological threshold of 2,000.

The initial level of support is 1,857. If this level is broken, the ETH/USDT pair could experience a pullback towards the 20-day exponential moving average (EMA) (1,794), which is the critical level for the bulls to maintain in order to keep the uptrend going.

If the price rebounds from the 20-day EMA, the bulls will attempt to overcome the 2,000 hurdle once again. In that case, the pair could potentially rise to 2,200.

On the flip side, if the price breaks below the 20-day EMA, it might entice short-term traders to take profits. The pair could then drop to 1,743, followed by a potential further decline to 1,680.

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