{"id":16280,"date":"2023-01-18T04:57:56","date_gmt":"2023-01-18T08:57:56","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=16280"},"modified":"2023-01-18T04:57:56","modified_gmt":"2023-01-18T08:57:56","slug":"ethereum-price-remains-supported-for-a-fresh-increase-above-1600","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/18\/ethereum-price-remains-supported-for-a-fresh-increase-above-1600\/","title":{"rendered":"Ethereum Price Remains Supported For A Fresh Increase Above $1,600"},"content":{"rendered":"

Ethereum is consolidating gains above $1,500 against the US Dollar. ETH could start another increase and clear the $1,600 resistance zone in the near term.<\/em><\/p>\n

Ethereum is showing positive signs above the $1,500 and $1,520 resistance levels.
\nThe price is now trading above $1,550 and the 100 hourly simple moving average.
\nThere is a connecting bullish trend line forming with support near $1,570 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise further unless there is a downside break below the $1,515 support.<\/p>\n

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

Ethereum price remained stable above the $1,500 resistance. ETH made another attempt to clear the $1,600 resistance zone, similar to bitcoin<\/a> at $21,500.<\/p>\n

However, the bears were active near the $1,600 resistance zone. A high is formed near $1,607 and the price is now consolidating gains. There was a minor decline below the 50% Fib retracement level of the upward move from the $1,541 swing low to $1,607 high.<\/p>\n

The price is now showing positive signs above the $1,540 support<\/a>. It even remained stable above the 61.8% Fib retracement level of the upward move from the $1,541 swing low to $1,607 high.<\/p>\n

Ether price is now trading above $1,550 and the 100 hourly simple moving average. There is also a connecting bullish trend line forming with support near $1,570 on the hourly chart of ETH\/USD. An immediate resistance is near the $1,600 level. The next major resistance is near the $1,620 level. An upside break above the $1,620 resistance zone could start a fresh increase.<\/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 $1,750 in the near term.<\/p>\n

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

If ethereum fails to clear the $1,600 resistance, it could start a downside correction. An initial support on the downside is near the $1,575 level and the trend line.<\/p>\n

The next major support is near the $1,550 level. If there is a move below $1,550, the price might test the $1,515 support. Any more losses might call for a test of the $1,450 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 $1,600<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum is consolidating gains above $1,500 against the US Dollar. ETH could start another increase and clear the $1,600 resistance zone in the near term.<\/em><\/p>\n

Ethereum is showing positive signs above the $1,500 and $1,520 resistance levels.
\nThe price is now trading above $1,550 and the 100 hourly simple moving average.
\nThere is a connecting bullish trend line forming with support near $1,570 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise further unless there is a downside break below the $1,515 support.<\/p>\n

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

Ethereum price remained stable above the $1,500 resistance. ETH made another attempt to clear the $1,600 resistance zone, similar to bitcoin<\/a> at $21,500.<\/p>\n

However, the bears were active near the $1,600 resistance zone. A high is formed near $1,607 and the price is now consolidating gains. There was a minor decline below the 50% Fib retracement level of the upward move from the $1,541 swing low to $1,607 high.<\/p>\n

The price is now showing positive signs above the $1,540 support<\/a>. It even remained stable above the 61.8% Fib retracement level of the upward move from the $1,541 swing low to $1,607 high.<\/p>\n

Ether price is now trading above $1,550 and the 100 hourly simple moving average. There is also a connecting bullish trend line forming with support near $1,570 on the hourly chart of ETH\/USD. An immediate resistance is near the $1,600 level. The next major resistance is near the $1,620 level. An upside break above the $1,620 resistance zone could start a fresh increase.<\/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 $1,750 in the near term.<\/p>\n

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

If ethereum fails to clear the $1,600 resistance, it could start a downside correction. An initial support on the downside is near the $1,575 level and the trend line.<\/p>\n

The next major support is near the $1,550 level. If there is a move below $1,550, the price might test the $1,515 support. Any more losses might call for a test of the $1,450 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 $1,600<\/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-16280","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\/16280","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=16280"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/16280\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=16280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=16280"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=16280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}