{"id":25813,"date":"2023-06-23T03:59:26","date_gmt":"2023-06-23T07:59:26","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=25813"},"modified":"2023-06-23T03:59:26","modified_gmt":"2023-06-23T07:59:26","slug":"ethereum-price-consolidates-below-1920-what-could-trigger-a-fresh-increase","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/23\/ethereum-price-consolidates-below-1920-what-could-trigger-a-fresh-increase\/","title":{"rendered":"Ethereum Price Consolidates Below $1,920: What Could Trigger A Fresh Increase?"},"content":{"rendered":"

Ethereum price is correcting gains from $1,930 against the US Dollar. ETH could start a fresh increase unless there is an extended decline toward $1,820.<\/em><\/p>\n

Ethereum is currently correcting lower from the $1,930 resistance.
\nThe price is trading above $1,850 and the 100-hourly Simple Moving Average.
\nThere was a break below a connecting bullish trend line with support near $1,900 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise further above the $1,900 and $1,930 resistance levels.<\/p>\n

Ethereum Price Is Stable Above $1,850<\/h2>\n

Ethereum\u2019s price rallied above the $1,850 resistance zone. ETH even spiked above $1,900 before the bears appeared. A high is formed near $1,930 and the price is now correcting gains, similar to Bitcoin<\/a>.<\/p>\n

There was a move below the $1,900 and $1,880 levels. The price traded below the 23.6% Fib retracement level of the upward move from the $1,715 swing low to the $1,930 high. Besides, there was a break below a connecting bullish trend line with support near $1,900 on the hourly chart of ETH\/USD.<\/p>\n

Ether is still trading above $1,850 and the 100-hourly Simple Moving Average<\/a>. Immediate resistance is near the $1,900 level. The next major resistance is near the $1,930 level.<\/p>\n\n

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

If the bulls manage to pump Ethereum above the recent high, the price might even surpass $1,950. The next resistance sits near $2,000, above which the bulls could aim a move toward the $2,050 level. Any more gains above the $2,050 resistance zone might send the price toward the $2,120 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,930 resistance, it could continue to move down. Initial support on the downside is near the $1,865 level.<\/p>\n

The next major support is near the $1,820 level and the 100-hourly Simple Moving Average. It is close to the 50% Fib retracement level of the upward move from the $1,715 swing low to the $1,930 high. If there is a break below the $1,820 support, the price could test $1,800. Any more losses may perhaps send the price toward the $1,750 zone or even $1,720 in the coming days.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,820<\/p>\n

Major Resistance Level \u2013 $1,930<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is correcting gains from $1,930 against the US Dollar. ETH could start a fresh increase unless there is an extended decline toward $1,820.<\/em><\/p>\n

Ethereum is currently correcting lower from the $1,930 resistance.
\nThe price is trading above $1,850 and the 100-hourly Simple Moving Average.
\nThere was a break below a connecting bullish trend line with support near $1,900 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise further above the $1,900 and $1,930 resistance levels.<\/p>\n

Ethereum Price Is Stable Above $1,850<\/h2>\n

Ethereum\u2019s price rallied above the $1,850 resistance zone. ETH even spiked above $1,900 before the bears appeared. A high is formed near $1,930 and the price is now correcting gains, similar to Bitcoin<\/a>.<\/p>\n

There was a move below the $1,900 and $1,880 levels. The price traded below the 23.6% Fib retracement level of the upward move from the $1,715 swing low to the $1,930 high. Besides, there was a break below a connecting bullish trend line with support near $1,900 on the hourly chart of ETH\/USD.<\/p>\n

Ether is still trading above $1,850 and the 100-hourly Simple Moving Average<\/a>. Immediate resistance is near the $1,900 level. The next major resistance is near the $1,930 level.<\/p>\n

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

If the bulls manage to pump Ethereum above the recent high, the price might even surpass $1,950. The next resistance sits near $2,000, above which the bulls could aim a move toward the $2,050 level. Any more gains above the $2,050 resistance zone might send the price toward the $2,120 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,930 resistance, it could continue to move down. Initial support on the downside is near the $1,865 level.<\/p>\n

The next major support is near the $1,820 level and the 100-hourly Simple Moving Average. It is close to the 50% Fib retracement level of the upward move from the $1,715 swing low to the $1,930 high. If there is a break below the $1,820 support, the price could test $1,800. Any more losses may perhaps send the price toward the $1,750 zone or even $1,720 in the coming days.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,820<\/p>\n

Major Resistance Level \u2013 $1,930<\/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-25813","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\/25813","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=25813"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25813\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25813"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}