{"id":16390,"date":"2023-01-19T04:56:07","date_gmt":"2023-01-19T08:56:07","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=16390"},"modified":"2023-01-19T04:56:07","modified_gmt":"2023-01-19T08:56:07","slug":"ethereum-price-dips-from-1600-but-eth-could-start-a-fresh-rally","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/19\/ethereum-price-dips-from-1600-but-eth-could-start-a-fresh-rally\/","title":{"rendered":"Ethereum Price Dips From $1,600 But ETH Could Start A Fresh Rally"},"content":{"rendered":"

Ethereum struggled to clear the $1,600 resistance and corrected lower against the US Dollar. ETH could remains supported and might rise from the $1,500 support.<\/em><\/p>\n

Ethereum is correcting gains from the $1,600 and $1,580 resistance levels.
\nThe price is now trading below $1,550 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $1,580 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise again if it stays above the $1,500 support zone.<\/p>\n

Ethereum Price Remains Supported For More Gains<\/h2>\n

Ethereum price struggled to clear the $1,600 resistance zone. ETH formed a high near $1,610 and started a fresh downside correction, similar to bitcoin<\/a> from $21,500.<\/p>\n

There was a clear move below the $1,580 and $1,550 support levels. There was a break below a key bullish trend line with support near $1,580 on the hourly chart of ETH\/USD. The bears even pushed the price below the $1,545 support.<\/p>\n

Ether price is now trading below $1,550 and the 100 hourly simple moving average<\/a>. It traded as low as $1,480 and is currently consolidating losses. There was a minor increase above the 23.6% Fib retracement level of the recent decline from the $1,610 swing high to $1,480 low.<\/p>\n

An immediate resistance is near the $1,540 level and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the recent decline from the $1,610 swing high to $1,480 low. The next major resistance is near the $1,560 level. An upside break above the $1,560 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 $1,600 resistance. Any more gains might send the price towards $1,650 or even $1,700 in the near term.<\/p>\n

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

If ethereum fails to clear the $1,545 resistance, it could continue to move down. An initial support on the downside is near the $1,500 level.<\/p>\n

The next major support is near the $1,480 level. If there is a move below $1,480, the price might test the $1,435 support. Any more losses might call for a test of the $1,400 zone.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,500<\/p>\n

Major Resistance Level \u2013 $1,545<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum struggled to clear the $1,600 resistance and corrected lower against the US Dollar. ETH could remains supported and might rise from the $1,500 support.<\/em><\/p>\n

Ethereum is correcting gains from the $1,600 and $1,580 resistance levels.
\nThe price is now trading below $1,550 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $1,580 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise again if it stays above the $1,500 support zone.<\/p>\n

Ethereum Price Remains Supported For More Gains<\/h2>\n

Ethereum price struggled to clear the $1,600 resistance zone. ETH formed a high near $1,610 and started a fresh downside correction, similar to bitcoin<\/a> from $21,500.<\/p>\n

There was a clear move below the $1,580 and $1,550 support levels. There was a break below a key bullish trend line with support near $1,580 on the hourly chart of ETH\/USD. The bears even pushed the price below the $1,545 support.<\/p>\n

Ether price is now trading below $1,550 and the 100 hourly simple moving average<\/a>. It traded as low as $1,480 and is currently consolidating losses. There was a minor increase above the 23.6% Fib retracement level of the recent decline from the $1,610 swing high to $1,480 low.<\/p>\n

An immediate resistance is near the $1,540 level and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the recent decline from the $1,610 swing high to $1,480 low. The next major resistance is near the $1,560 level. An upside break above the $1,560 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 $1,600 resistance. Any more gains might send the price towards $1,650 or even $1,700 in the near term.<\/p>\n

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

If ethereum fails to clear the $1,545 resistance, it could continue to move down. An initial support on the downside is near the $1,500 level.<\/p>\n

The next major support is near the $1,480 level. If there is a move below $1,480, the price might test the $1,435 support. Any more losses might call for a test of the $1,400 zone.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,500<\/p>\n

Major Resistance Level \u2013 $1,545<\/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-16390","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\/16390","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=16390"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/16390\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=16390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=16390"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=16390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}