Ethereum price may pull back before the ultimate bullish impulse above $2,000

ETH/USD picks up bids to challenge the record top.
Sustained trading beyond 10-day SMA, whales’ accumulation favor the bulls.
Retracement before $2,000 can’t be ruled out, formation support adds to the downside filters.

Ethereum keeps the record-breaking rally on the table while picking up the bids near $1,940 during the early Friday’s trading.

The cryptocurrency pair’s ability to extend the bounce-off 10-day SMA gains support from the accumulation of crypto whales to favor the bulls inside a bearish chart pattern formation. Also supporting the argument is an absence of bearish MACD.

However, overbought RSI and a strong resistance line established since early 2021 can trigger the quote’s pullback around $1,975 before attacking the $2,000 threshold.

Should the pullback moves break the 10-day SMA level of $1,830, the pattern’s support near $1,770 will be the key to watch as a downside break of which will confirm the extended pullback towards the monthly low of around $1,490.

Overall, ETH/USD stays on the bullish trajectory and is well set to challenge the $2,000 psychological magnet. However, key resistance and overbought RSI may offer a spot for the whales to catch a breather.

ETH/USD daily chart

Trend: Bullish

additional impotant levels

Overview
Today last price	1939.64
Today Daily Change	0.00
Today Daily Change %	0.00%
Today daily open	1939.64

Trends
Daily SMA20	1687
Daily SMA50	1380.99
Daily SMA100	980.01
Daily SMA200	683.18

Levels
Previous Daily High	1950.3
Previous Daily Low	1851.47
Previous Weekly High	1868.9
Previous Weekly Low	1493.28
Previous Monthly High	1477.3
Previous Monthly Low	715.22
Daily Fibonacci 38.2%	1912.55
Daily Fibonacci 61.8%	1889.22
Daily Pivot Point S1	1877.31
Daily Pivot Point S2	1814.97
Daily Pivot Point S3	1778.48
Daily Pivot Point R1	1976.14
Daily Pivot Point R2	2012.63
Daily Pivot Point R3	2074.97

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