{"id":17114,"date":"2023-01-30T04:53:44","date_gmt":"2023-01-30T08:53:44","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=17114"},"modified":"2023-01-30T04:53:44","modified_gmt":"2023-01-30T08:53:44","slug":"ethereum-price-hints-at-potential-rally-but-this-resistance-is-the-key","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/30\/ethereum-price-hints-at-potential-rally-but-this-resistance-is-the-key\/","title":{"rendered":"Ethereum Price Hints At Potential Rally But This Resistance Is The Key"},"content":{"rendered":"

Ethereum started another increase above the $1,620 resistance against the US Dollar. ETH is rising and might rally if it clears the $1,665 resistance zone.<\/em><\/p>\n

Ethereum is slowly moving higher above the $1,600 and $1,620 levels.
\nThe price is now trading above $1,620 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 rally if there is a clear move above the $1,665 resistance zone.<\/p>\n

Ethereum Price Starts Increase<\/h2>\n

Ethereum price remained well bid above the $1,550 level. ETH formed a base and started a fresh increase above the $1,600 resistance zone. There was a clear move above the $1,620 resistance, similar to bitcoin<\/a>.<\/p>\n

There was a break above a major bearish trend line with resistance near $1,615 on the hourly chart of ETH\/USD. The bulls were able to pump the price above the $1,640 resistance. A high is formed near $1,658 and the price is now consolidating gains.<\/p>\n

Ether price is now trading above $1,620 and the 100 hourly simple moving average<\/a>. It is trading near the 23.6% Fib retracement level of the upward move from the $1,557 swing low to $1,658 high.<\/p>\n

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

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

An immediate resistance is near the $1,655 level. The next major resistance is near the $1,665 level. An upside break above the $1,665 resistance zone could start a decent increase. In the stated case, the price may perhaps rise towards the $1,720 resistance. Any more gains might send ether towards the $1,800 level.<\/p>\n

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

If ethereum fails to clear the $1,665 resistance, it could start a downside correction. An initial support on the downside is near the $1,620 level or the broken trend line.<\/p>\n

The next major support is near the $1,600 level or the 50% Fib retracement level of the upward move from the $1,557 swing low to $1,658 high. If there is a break below $1,600, the price might drop towards the $1,550 support. Any more losses might call for a retest of the $1,520 zone in the near term.<\/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 $1,620<\/p>\n

Major Resistance Level \u2013 $1,665<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum started another increase above the $1,620 resistance against the US Dollar. ETH is rising and might rally if it clears the $1,665 resistance zone.<\/em><\/p>\n

Ethereum is slowly moving higher above the $1,600 and $1,620 levels.
\nThe price is now trading above $1,620 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 rally if there is a clear move above the $1,665 resistance zone.<\/p>\n

Ethereum Price Starts Increase<\/h2>\n

Ethereum price remained well bid above the $1,550 level. ETH formed a base and started a fresh increase above the $1,600 resistance zone. There was a clear move above the $1,620 resistance, similar to bitcoin<\/a>.<\/p>\n

There was a break above a major bearish trend line with resistance near $1,615 on the hourly chart of ETH\/USD. The bulls were able to pump the price above the $1,640 resistance. A high is formed near $1,658 and the price is now consolidating gains.<\/p>\n

Ether price is now trading above $1,620 and the 100 hourly simple moving average<\/a>. It is trading near the 23.6% Fib retracement level of the upward move from the $1,557 swing low to $1,658 high.<\/p>\n

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

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

An immediate resistance is near the $1,655 level. The next major resistance is near the $1,665 level. An upside break above the $1,665 resistance zone could start a decent increase. In the stated case, the price may perhaps rise towards the $1,720 resistance. Any more gains might send ether towards the $1,800 level.<\/p>\n

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

If ethereum fails to clear the $1,665 resistance, it could start a downside correction. An initial support on the downside is near the $1,620 level or the broken trend line.<\/p>\n

The next major support is near the $1,600 level or the 50% Fib retracement level of the upward move from the $1,557 swing low to $1,658 high. If there is a break below $1,600, the price might drop towards the $1,550 support. Any more losses might call for a retest of the $1,520 zone in the near term.<\/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 $1,620<\/p>\n

Major Resistance Level \u2013 $1,665<\/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-17114","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\/17114","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=17114"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/17114\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=17114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=17114"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=17114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}