Ethereum Price Analysis: ETH Price Skyrockets To Surge Above $1700, Is $2K Possible? 

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Bitcoin and Ethereum price makes the anticipated bounce back in the final week of the Bitcoin ETF deadline. The bullish spike on Tuesday comes with U.S. Courts of Appeal favoring the grayscale

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against SEC and approving GBTC’s transformation into a Bitcoin ETF.

Following the sideways trend above the $1600 demand belt, the ETH price bounces back with a strong bullish engulfing candle. This Tuesday, the 4.66% jump in Ethereum turns the tides in a bullish favor. 

Adding points to the bullish team, the momentum indicators give a buy signal. The MACD indicator gives a bullish crossover, and the RSI line finds the bullish divergence playing out last night. 

The crucial 50-day EMA drops to the 200-day EMA, teasing a bearish crossover better known as Deathcross. However, the sudden bullish spark takes off the death cross edge. 

Currently, the ETH price trades at $1717 with a 0.67% pullback following the jump. 

Will Ethereum Prices Cut Through $2000?

The altcoins might find a positive week ahead with the bullish engulfing candle and the improving market conditions. However, the death cross and the upcoming resistance trendline will try to contain the bullish outgrowth. 

In case the SEC approves the Bitcoin ETF this Monday, the Ethereum price can cross the crucial EMAs and retest the broken support trendline. Moreover, the uptrend may cross the $2000 mark to reach the previous swing high of $2140. 

On the flip side, if the SEC delays the decision, the ETH price may fall back to the $1600 demand belt.