{"id":16901,"date":"2023-01-26T04:52:44","date_gmt":"2023-01-26T08:52:44","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=16901"},"modified":"2023-01-26T04:52:44","modified_gmt":"2023-01-26T08:52:44","slug":"ethereum-price-holds-ground-and-sees-fresh-rally-bulls-are-not-done-yet","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/26\/ethereum-price-holds-ground-and-sees-fresh-rally-bulls-are-not-done-yet\/","title":{"rendered":"Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet"},"content":{"rendered":"

Ethereum corrected lower sharply and tested $1,500 against the US Dollar. ETH started a fresh increase and is now trading above the $1,600 pivot level.<\/em><\/p>\n

Ethereum is gaining pace above the $1,580 and $1,600 levels.
\nThe price is now trading above $1,600 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $1,615 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise further if it stays above the $1,600 and $1,580 support levels.<\/p>\n

Ethereum Price Restarts Increase<\/h2>\n

Ethereum price started a sharp downside correction below the $1,600 level. ETH even declined below the $1,550 support zone and the 100 hourly simple moving average.<\/p>\n

However, the bulls were active near the $1,520 support zone. A low as formed near $1,518 and the price started a sharp increase, similar to bitcoin<\/a>. There was a steady increase above the $1,550 and $1,580 resistance levels. The bulls even pushed it above the $1,600 level.<\/p>\n

Besides, there was a break above a major bearish trend line<\/a> with resistance near $1,615 on the hourly chart of ETH\/USD. Ether price is now trading above $1,600 and the 100 hourly simple moving average.<\/p>\n

A high is formed near $1,639 and the price is consolidating gains. It is trading near the 23.6% Fib retracement level of the upward move from the $1,518 swing low to $1,639 high. An immediate resistance is near the $1,640 level. The next major resistance is near the $1,665 level.<\/p>\n

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

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

An upside break above the $1,665 resistance zone could start a fresh rally. In the stated case, the price may perhaps rise towards the $1,720 resistance.<\/p>\n

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

If ethereum fails to clear the $1,640 resistance, it could start another downside correction. An initial support on the downside is near the $1,610 level or the broken trend line.<\/p>\n

The next major support is near the $1,580 level or the 50% Fib retracement level of the upward move from the $1,518 swing low to $1,639 high. If there is a break below $1,580, the price might drop towards the $1,550 support. Any more losses might call for a retest of the $1,520 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 $1,580<\/p>\n

Major Resistance Level \u2013 $1,640<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum corrected lower sharply and tested $1,500 against the US Dollar. ETH started a fresh increase and is now trading above the $1,600 pivot level.<\/em><\/p>\n

Ethereum is gaining pace above the $1,580 and $1,600 levels.
\nThe price is now trading above $1,600 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $1,615 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise further if it stays above the $1,600 and $1,580 support levels.<\/p>\n

Ethereum Price Restarts Increase<\/h2>\n

Ethereum price started a sharp downside correction below the $1,600 level. ETH even declined below the $1,550 support zone and the 100 hourly simple moving average.<\/p>\n

However, the bulls were active near the $1,520 support zone. A low as formed near $1,518 and the price started a sharp increase, similar to bitcoin<\/a>. There was a steady increase above the $1,550 and $1,580 resistance levels. The bulls even pushed it above the $1,600 level.<\/p>\n

Besides, there was a break above a major bearish trend line<\/a> with resistance near $1,615 on the hourly chart of ETH\/USD. Ether price is now trading above $1,600 and the 100 hourly simple moving average.<\/p>\n

A high is formed near $1,639 and the price is consolidating gains. It is trading near the 23.6% Fib retracement level of the upward move from the $1,518 swing low to $1,639 high. An immediate resistance is near the $1,640 level. The next major resistance is near the $1,665 level.<\/p>\n

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

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

An upside break above the $1,665 resistance zone could start a fresh rally. In the stated case, the price may perhaps rise towards the $1,720 resistance.<\/p>\n

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

If ethereum fails to clear the $1,640 resistance, it could start another downside correction. An initial support on the downside is near the $1,610 level or the broken trend line.<\/p>\n

The next major support is near the $1,580 level or the 50% Fib retracement level of the upward move from the $1,518 swing low to $1,639 high. If there is a break below $1,580, the price might drop towards the $1,550 support. Any more losses might call for a retest of the $1,520 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 $1,580<\/p>\n

Major Resistance Level \u2013 $1,640<\/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-16901","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\/16901","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=16901"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/16901\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=16901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=16901"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=16901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}