Ethereum is slowly moving higher above the $1,120 zone against the US Dollar. ETH could rally if there is a clear move above the $1,165 resistance level.<\/p>\n
Ethereum is facing resistance near the $1,165 and $1,190 levels.
\nThe price is now trading above $1,120 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $1,085 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if there is a clear move above the $1,165 resistance.<\/p>\n
Ethereum Price Eyes Upside Break<\/p>\n
Ethereum started a downside correction below the $1,120 level. ETH even traded below the $1,080 level, but the bulls were active near the $1,050 support zone.<\/p>\n
The price traded as low as $1,048 and recently started a fresh increase. Ether price was able to surpass the $1,100 level. There was a move above the 50% Fib retracement level of the downward move from the $1,192 swing high to $1,048 low.<\/p>\n
Besides, there was a break above a major bearish trend line with resistance near $1,085 on the hourly chart of ETH\/USD. The pair is now trading above $1,120 and the 100 hourly simple moving average.<\/p>\n
An immediate resistance on the upside is near the $1,165 level. It is close to the 76.4% Fib retracement level of the downward move from the $1,192 swing high to $1,048 low. The next major resistance is near the $1,190 zone. A clear move above the $1,190 resistance zone could start a steady increase.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,250 level. Any more gains could start a move towards the $1,320 resistance in the near term.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,165 resistance, it could start a fresh decline. An initial support on the downside is near the $1,120 zone.<\/p>\n
The next major support is near the $1,100 zone and the 100 hourly simple moving average. A close below the $1,100 level might start another decline. In the stated case, ether price may perhaps decline towards the $1,050 level. Any more losses might call for a move towards the $1,000 support.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now above the 50 level.<\/p>\n
Major Support Level \u2013 $1,100<\/p>\n
Major Resistance Level \u2013 $1,165<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum is slowly moving higher above the $1,120 zone against the US Dollar. ETH could rally if there is a clear move above the $1,165 resistance level.<\/p>\n
Ethereum is facing resistance near the $1,165 and $1,190 levels.
\nThe price is now trading above $1,120 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $1,085 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if there is a clear move above the $1,165 resistance.<\/p>\n
Ethereum Price Eyes Upside Break<\/p>\n
Ethereum started a downside correction below the $1,120 level. ETH even traded below the $1,080 level, but the bulls were active near the $1,050 support zone.<\/p>\n
The price traded as low as $1,048 and recently started a fresh increase. Ether price was able to surpass the $1,100 level. There was a move above the 50% Fib retracement level of the downward move from the $1,192 swing high to $1,048 low.<\/p>\n
Besides, there was a break above a major bearish trend line with resistance near $1,085 on the hourly chart of ETH\/USD. The pair is now trading above $1,120 and the 100 hourly simple moving average.<\/p>\n
An immediate resistance on the upside is near the $1,165 level. It is close to the 76.4% Fib retracement level of the downward move from the $1,192 swing high to $1,048 low. The next major resistance is near the $1,190 zone. A clear move above the $1,190 resistance zone could start a steady increase.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,250 level. Any more gains could start a move towards the $1,320 resistance in the near term.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,165 resistance, it could start a fresh decline. An initial support on the downside is near the $1,120 zone.<\/p>\n
The next major support is near the $1,100 zone and the 100 hourly simple moving average. A close below the $1,100 level might start another decline. In the stated case, ether price may perhaps decline towards the $1,050 level. Any more losses might call for a move towards the $1,000 support.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now above the 50 level.<\/p>\n
Major Support Level \u2013 $1,100<\/p>\n
Major Resistance Level \u2013 $1,165<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-1941","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\/1941","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=1941"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/1941\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=1941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=1941"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=1941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}