Ethereum Price Surges 30% in 30 Days, Eyes $2,000

Ethereum's price has surged by 30% in the past 30 days, reaching a new high of $1,980. This significant increase has left many traders wondering if $2,000 is within reach.

The chart shows a clear three-phase structure: a base between June 24 and June 30, a breakout above $1,800 on July 14, and a grind higher from July 15 onward. The higher highs, higher lows, and flipped support level holding on every retest indicate a strong uptrend.

The Relative Strength Index (RSI) is at 72.08, which some might consider overbought territory. However, the context matters: RSI above 70 in a downtrend is a sell signal, but in a confirmed uptrend like this one, it's a momentum confirmation. The oscillator peaked near 78 in early July and price kept climbing for three more weeks.

The next targets are $2,000, $2,070 (measured move), and $2,150 to $2,200 (above the measured move). Bulls have three lines of defense: $1,900, $1,845 to $1,850, and $1,800. A sustained 3H close below $1,800 would turn the chart neutral to bearish.