{"id":16626,"date":"2023-01-23T05:54:00","date_gmt":"2023-01-23T09:54:00","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=16626"},"modified":"2023-01-23T05:54:00","modified_gmt":"2023-01-23T09:54:00","slug":"ethereum-price-consolidates-below-1650-as-the-bulls-aim-another-rally","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/23\/ethereum-price-consolidates-below-1650-as-the-bulls-aim-another-rally\/","title":{"rendered":"Ethereum Price Consolidates Below $1,650 As The Bulls Aim Another Rally"},"content":{"rendered":"

Ethereum climbed further higher above $1,620 against the US Dollar. ETH is consolidating gains and might aim another rally towards the $1,720 level.<\/em><\/p>\n

Ethereum is correcting gains from the $1,655 and $1,665 resistance levels.
\nThe price is now trading above $1,600 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $1,630 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rally again if it stays above the $1,600 support zone.<\/p>\n

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

Ethereum price started a steady increase above the $1,500 resistance zone. ETH gained pace for a move above the $1,600 resistance zone, similar to bitcoin<\/a> at $22,000.<\/p>\n

The bulls even pushed the price above the $1,650 level and the price settled above the 100 hourly simple moving average<\/a>. A new yearly high was formed near $1,679 and the price is now correcting gains. There was a minor move below the $1,650 level.<\/p>\n

Ether price dipped below the 23.6% Fib retracement level of the upward move from the $1,480 swing low to $1,679 high. Besides, there was a break below a key bullish trend line with support near $1,630 on the hourly chart of ETH\/USD.<\/p>\n

The price is now trading above $1,600 and the 100 hourly simple moving average. An immediate resistance is near the $1,650 level and the broken trend line.<\/p>\n

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

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

The next major resistance is near the $1,680 level. An upside break above the $1,680 resistance zone could start a fresh increase. In the stated case, the price may perhaps rise towards the $1,720 resistance. Any more gains might send the price towards $1,788 or even $1,800 in the near term.<\/p>\n

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

If ethereum fails to clear the $1,650 resistance, it could continue to move down. An initial support on the downside is near the $1,600 level.<\/p>\n

The next major support is near the $1,580 level or the 50% Fib retracement level of the upward move from the $1,480 swing low to $1,679 high. If there is a move below $1,580, the price might test the $1,520 support. Any more losses might call for a test of the $1,480 zone.<\/p>\n

Technical Indicators<\/p>\n

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

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

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

Major Resistance Level \u2013 $1,650<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum climbed further higher above $1,620 against the US Dollar. ETH is consolidating gains and might aim another rally towards the $1,720 level.<\/em><\/p>\n

Ethereum is correcting gains from the $1,655 and $1,665 resistance levels.
\nThe price is now trading above $1,600 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $1,630 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rally again if it stays above the $1,600 support zone.<\/p>\n

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

Ethereum price started a steady increase above the $1,500 resistance zone. ETH gained pace for a move above the $1,600 resistance zone, similar to bitcoin<\/a> at $22,000.<\/p>\n

The bulls even pushed the price above the $1,650 level and the price settled above the 100 hourly simple moving average<\/a>. A new yearly high was formed near $1,679 and the price is now correcting gains. There was a minor move below the $1,650 level.<\/p>\n

Ether price dipped below the 23.6% Fib retracement level of the upward move from the $1,480 swing low to $1,679 high. Besides, there was a break below a key bullish trend line with support near $1,630 on the hourly chart of ETH\/USD.<\/p>\n

The price is now trading above $1,600 and the 100 hourly simple moving average. An immediate resistance is near the $1,650 level and the broken trend line.<\/p>\n

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

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

The next major resistance is near the $1,680 level. An upside break above the $1,680 resistance zone could start a fresh increase. In the stated case, the price may perhaps rise towards the $1,720 resistance. Any more gains might send the price towards $1,788 or even $1,800 in the near term.<\/p>\n

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

If ethereum fails to clear the $1,650 resistance, it could continue to move down. An initial support on the downside is near the $1,600 level.<\/p>\n

The next major support is near the $1,580 level or the 50% Fib retracement level of the upward move from the $1,480 swing low to $1,679 high. If there is a move below $1,580, the price might test the $1,520 support. Any more losses might call for a test of the $1,480 zone.<\/p>\n

Technical Indicators<\/p>\n

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

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

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

Major Resistance Level \u2013 $1,650<\/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-16626","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\/16626","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=16626"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/16626\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=16626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=16626"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=16626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}