{"id":16133,"date":"2023-01-16T04:54:17","date_gmt":"2023-01-16T08:54:17","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=16133"},"modified":"2023-01-16T04:54:17","modified_gmt":"2023-01-16T08:54:17","slug":"ethereum-price-accelerates-higher-as-the-bulls-aim-1720","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/16\/ethereum-price-accelerates-higher-as-the-bulls-aim-1720\/","title":{"rendered":"Ethereum Price Accelerates Higher as The Bulls Aim $1,720"},"content":{"rendered":"

Ethereum climbed higher above the $1,500 resistance zone against the US Dollar. ETH is consolidating gains and might rise further towards the $1,650 level.<\/em><\/p>\n

Ethereum started a fresh increase above the $1,450 and $1,500 resistance levels.
\nThe price is now trading above $1,500 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $1,540 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise further unless there is a downside correction below the $1,540 support.<\/p>\n

Ethereum Price Signals Bullish<\/h2>\n

Ethereum price started a strong increase above the $1,400 resistance. ETH was able to clear the $1,450 resistance zone to move further into a positive zone, similar to bitcoin<\/a> above $20,000.<\/p>\n

The price even climbed above the $1,500 resistance zone. A high is formed near $1,584 and the price is now consolidating gains. Ether price is now trading above $1,500 and the 100 hourly simple moving average<\/a>. There is also a major bullish trend line forming with support near $1,540 on the hourly chart of ETH\/USD.<\/p>\n

The current price action is positive, and the price is trading above the 23.6% Fib retracement level of the upward move from the $1,505 swing low to $1,584 high.<\/p>\n

An immediate resistance is near the $1,585 level. The next major resistance is near the $1,620 level. An upside break above the $1,620 resistance zone could set the pace for more gains.<\/p>\n

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

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

In the stated case, the price may perhaps rise towards the $1,700 resistance. Any more gains might send the price towards $1,720 or even $1,800 in the near term.<\/p>\n

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

If ethereum fails to clear the $1,585 resistance, it could start a downside correction. An initial support on the downside is near the $1,550 level.<\/p>\n

The next major support is near the $1,540 level and the trend line. It is near the 50% Fib retracement level of the upward move from the $1,505 swing low to $1,584 high. If there is a move below $1,540, the price might test the $1,500 support. Any more losses might call for a test of the $1,420 zone.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining 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 $1,540<\/p>\n

Major Resistance Level \u2013 $1,585<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum climbed higher above the $1,500 resistance zone against the US Dollar. ETH is consolidating gains and might rise further towards the $1,650 level.<\/em><\/p>\n

Ethereum started a fresh increase above the $1,450 and $1,500 resistance levels.
\nThe price is now trading above $1,500 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $1,540 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise further unless there is a downside correction below the $1,540 support.<\/p>\n

Ethereum Price Signals Bullish<\/h2>\n

Ethereum price started a strong increase above the $1,400 resistance. ETH was able to clear the $1,450 resistance zone to move further into a positive zone, similar to bitcoin<\/a> above $20,000.<\/p>\n

The price even climbed above the $1,500 resistance zone. A high is formed near $1,584 and the price is now consolidating gains. Ether price is now trading above $1,500 and the 100 hourly simple moving average<\/a>. There is also a major bullish trend line forming with support near $1,540 on the hourly chart of ETH\/USD.<\/p>\n

The current price action is positive, and the price is trading above the 23.6% Fib retracement level of the upward move from the $1,505 swing low to $1,584 high.<\/p>\n

An immediate resistance is near the $1,585 level. The next major resistance is near the $1,620 level. An upside break above the $1,620 resistance zone could set the pace for more gains.<\/p>\n

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

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

In the stated case, the price may perhaps rise towards the $1,700 resistance. Any more gains might send the price towards $1,720 or even $1,800 in the near term.<\/p>\n

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

If ethereum fails to clear the $1,585 resistance, it could start a downside correction. An initial support on the downside is near the $1,550 level.<\/p>\n

The next major support is near the $1,540 level and the trend line. It is near the 50% Fib retracement level of the upward move from the $1,505 swing low to $1,584 high. If there is a move below $1,540, the price might test the $1,500 support. Any more losses might call for a test of the $1,420 zone.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining 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 $1,540<\/p>\n

Major Resistance Level \u2013 $1,585<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-16133","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\/16133","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=16133"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/16133\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=16133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=16133"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=16133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}