{"id":10681,"date":"2022-10-27T09:57:35","date_gmt":"2022-10-27T13:57:35","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=10681"},"modified":"2022-10-27T09:57:35","modified_gmt":"2022-10-27T13:57:35","slug":"ethereum-price-holds-strong-at-1500-a-strengthening-case-for-upside","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/10\/27\/ethereum-price-holds-strong-at-1500-a-strengthening-case-for-upside\/","title":{"rendered":"Ethereum Price Holds Strong at $1,500: A Strengthening Case for Upside"},"content":{"rendered":"

Ethereum gained pace and broke the $1,500 resistance zone against the US Dollar. ETH is consolidating gains and might eye more upsides above $1,600.<\/em><\/p>\n

Ethereum is showing positive signs above the $1,500 and $1,520 levels.
\nThe price is now trading above $1,520 and the 100 hourly simple moving average.
\nThere is a major contracting triangle forming with resistance near $1,560 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rally again if there is a clear move above $1,560 and $1,580.<\/p>\n

Ethereum Price Eyes Fresh Increase<\/h2>\n

Ethereum gained pace<\/a> after it broke the $1,400 and $1,420 resistance levels. ETH even cleared the $1,500 level and settled above the 100 hourly simple moving average.<\/p>\n

The price surged towards the $1,600 level and remained well bid. A high was formed near $1,593 before there was a downside correction. There was a move below the $1,580 level. Ether price even tested the 23.6% Fib retracement level of the upward move from the $1,339 swing low to $1,593 high.<\/p>\n

It is now trading above $1,520 and the 100 hourly simple moving average<\/a>. There is also a major contracting triangle forming with resistance near $1,560 on the hourly chart of ETH\/USD.<\/p>\n

<\/a><\/p>\n

Source: ETHUSD on TradingView.com<\/a><\/p>\n

An immediate resistance on the upside is near the $1,560 level and the triangle trend line. The first major resistance is near the $1,580 and $1,585 levels. The main barrier is now near the $1,600 zone. A clear upside break above the $1,600 resistance zone could open the doors for a strong increase. In the stated case, the price might climb towards the $1,750 level.<\/p>\n

Dips Limited in ETH?<\/h2>\n

If ethereum fails to climb above the $1,580 resistance, it could start a downside correction. An initial support on the downside is near the $1,525 level and the triangle zone.<\/p>\n

The next major support is near the $1,460 and $1,450 levels. It is near the 50% Fib retracement level of the upward move from the $1,339 swing low to $1,593 high. A downside break below the $1,450 zone might start a fresh decline to $1,400 in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n

Major Support Level \u2013 $1,450<\/p>\n

Major Resistance Level \u2013 $1,580<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum gained pace and broke the $1,500 resistance zone against the US Dollar. ETH is consolidating gains and might eye more upsides above $1,600.<\/em><\/p>\n

Ethereum is showing positive signs above the $1,500 and $1,520 levels.
\nThe price is now trading above $1,520 and the 100 hourly simple moving average.
\nThere is a major contracting triangle forming with resistance near $1,560 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rally again if there is a clear move above $1,560 and $1,580.<\/p>\n

Ethereum Price Eyes Fresh Increase<\/h2>\n

Ethereum gained pace<\/a> after it broke the $1,400 and $1,420 resistance levels. ETH even cleared the $1,500 level and settled above the 100 hourly simple moving average.<\/p>\n

The price surged towards the $1,600 level and remained well bid. A high was formed near $1,593 before there was a downside correction. There was a move below the $1,580 level. Ether price even tested the 23.6% Fib retracement level of the upward move from the $1,339 swing low to $1,593 high.<\/p>\n

It is now trading above $1,520 and the 100 hourly simple moving average<\/a>. There is also a major contracting triangle forming with resistance near $1,560 on the hourly chart of ETH\/USD.<\/p>\n

<\/a><\/p>\n

Source: ETHUSD on TradingView.com<\/a><\/p>\n

An immediate resistance on the upside is near the $1,560 level and the triangle trend line. The first major resistance is near the $1,580 and $1,585 levels. The main barrier is now near the $1,600 zone. A clear upside break above the $1,600 resistance zone could open the doors for a strong increase. In the stated case, the price might climb towards the $1,750 level.<\/p>\n

Dips Limited in ETH?<\/h2>\n

If ethereum fails to climb above the $1,580 resistance, it could start a downside correction. An initial support on the downside is near the $1,525 level and the triangle zone.<\/p>\n

The next major support is near the $1,460 and $1,450 levels. It is near the 50% Fib retracement level of the upward move from the $1,339 swing low to $1,593 high. A downside break below the $1,450 zone might start a fresh decline to $1,400 in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n

Major Support Level \u2013 $1,450<\/p>\n

Major Resistance Level \u2013 $1,580<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-10681","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/10681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=10681"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/10681\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=10681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=10681"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=10681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}