{"id":25342,"date":"2023-06-13T04:52:47","date_gmt":"2023-06-13T08:52:47","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=25342"},"modified":"2023-06-13T04:52:47","modified_gmt":"2023-06-13T08:52:47","slug":"ethereum-price-could-see-recovery-if-its-able-to-clear-1800","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/13\/ethereum-price-could-see-recovery-if-its-able-to-clear-1800\/","title":{"rendered":"Ethereum Price Could See Recovery If It\u2019s Able to Clear $1,800"},"content":{"rendered":"

Ethereum price is attempting a recovery wave above the $1,740 level against the US Dollar. ETH could rise steadily if there is a move above the $1,780 resistance.<\/em><\/p>\n

Ethereum is still below the $1,780 and $1,800 resistance levels.
\nThe price is trading below $1,780 and the 100-hourly Simple Moving Average.
\nThere was a break above a major bearish trend line with resistance near $1,740 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could recover if there is a move above the $1,780 and $1,800 levels.<\/p>\n

Ethereum Price Forms Support Base<\/h2>\n

Ethereum\u2019s price settled below the $1,775 and $1,780 resistance levels<\/a>. ETH tested the $1,720 zone and is currently forming a support base, similar to Bitcoin<\/a>.<\/p>\n

A low is formed near $1,718 and the price is attempting a recovery wave. The price is slowly moving higher above the $1,740 level. There was a break above a major bearish trend line with resistance near $1,740 on the hourly chart of ETH\/USD.<\/p>\n

Ether is now testing the 23.6% Fib retracement level of the main drop from the $1,854 swing high to the $1,718 low. However, it is still trading below $1,780 and the 100-hourly Simple Moving Average.<\/p>\n

Immediate resistance is near the $1,770 zone and the 100-hourly Simple Moving Average. The next major resistance is near the $1,785 level. It is close to the 50% Fib retracement level of the main drop from the $1,854 swing high to the $1,718 low.<\/p>\n\n

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

A proper move above the $1,770 and $1,785 resistance levels might send Ether toward $1,820. The next resistance sits near $1,850, above which Ethereum could rise toward the $1,880 level. Any more gains above the $1,880 resistance zone might send the price toward the $1,920 resistance.<\/p>\n

Another Drop in ETH?<\/h2>\n

If Ethereum fails to clear the $1,770 resistance, it could start another decline. Initial support on the downside is near the $1,730 level.<\/p>\n

The next major support is near the $1,720 level. If there is a break and close below the $1,720 support, the price could gain bearish momentum toward the $1,640 support. Any more losses may perhaps send the price toward the $1,600 zone.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is 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 $1,720<\/p>\n

Major Resistance Level \u2013 $1,780<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is attempting a recovery wave above the $1,740 level against the US Dollar. ETH could rise steadily if there is a move above the $1,780 resistance.<\/em><\/p>\n

Ethereum is still below the $1,780 and $1,800 resistance levels.
\nThe price is trading below $1,780 and the 100-hourly Simple Moving Average.
\nThere was a break above a major bearish trend line with resistance near $1,740 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could recover if there is a move above the $1,780 and $1,800 levels.<\/p>\n

Ethereum Price Forms Support Base<\/h2>\n

Ethereum\u2019s price settled below the $1,775 and $1,780 resistance levels<\/a>. ETH tested the $1,720 zone and is currently forming a support base, similar to Bitcoin<\/a>.<\/p>\n

A low is formed near $1,718 and the price is attempting a recovery wave. The price is slowly moving higher above the $1,740 level. There was a break above a major bearish trend line with resistance near $1,740 on the hourly chart of ETH\/USD.<\/p>\n

Ether is now testing the 23.6% Fib retracement level of the main drop from the $1,854 swing high to the $1,718 low. However, it is still trading below $1,780 and the 100-hourly Simple Moving Average.<\/p>\n

Immediate resistance is near the $1,770 zone and the 100-hourly Simple Moving Average. The next major resistance is near the $1,785 level. It is close to the 50% Fib retracement level of the main drop from the $1,854 swing high to the $1,718 low.<\/p>\n

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

A proper move above the $1,770 and $1,785 resistance levels might send Ether toward $1,820. The next resistance sits near $1,850, above which Ethereum could rise toward the $1,880 level. Any more gains above the $1,880 resistance zone might send the price toward the $1,920 resistance.<\/p>\n

Another Drop in ETH?<\/h2>\n

If Ethereum fails to clear the $1,770 resistance, it could start another decline. Initial support on the downside is near the $1,730 level.<\/p>\n

The next major support is near the $1,720 level. If there is a break and close below the $1,720 support, the price could gain bearish momentum toward the $1,640 support. Any more losses may perhaps send the price toward the $1,600 zone.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is 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 $1,720<\/p>\n

Major Resistance Level \u2013 $1,780<\/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-25342","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\/25342","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=25342"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25342\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25342"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}