{"id":28539,"date":"2023-08-22T04:53:20","date_gmt":"2023-08-22T08:53:20","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=28539"},"modified":"2023-08-22T04:53:20","modified_gmt":"2023-08-22T08:53:20","slug":"ethereum-price-key-indicators-suggest-rising-selling-interest-below-1700","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/22\/ethereum-price-key-indicators-suggest-rising-selling-interest-below-1700\/","title":{"rendered":"Ethereum Price Key Indicators Suggest Rising Selling Interest Below $1,700"},"content":{"rendered":"

Ethereum price is struggling to recover above the $1,700 resistance against the US Dollar. ETH could start a fresh decline if it stays below $1,700 and $1,720.<\/em><\/p>\n

Ethereum is struggling to recover above the $1,700 and $1,720 levels.
\nThe price is trading below $1,700 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $1,680 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start another decline if it stays below the $1,700 level in the near term.<\/p>\n

Ethereum Price Consolidates Below $1,700<\/h2>\n

Ethereum\u2019s price started a recovery wave from the $1,520 zone. ETH managed to recover above the $1,550 and $1,580 levels, similar to Bitcoin<\/a>.<\/p>\n

However, the price is struggling to recover above the $1,700 and $1,720 levels. It is now moving lower and trading below the 23.6% Fib retracement level of the recovery wave from the $1,517 swing low to the $1,716 high. There is also a key bearish trend line forming with resistance near $1,680 on the hourly chart of ETH\/USD.<\/p>\n

Ether is now trading below $1,700 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price might face resistance near the $1,680 level and the trend line.<\/p>\n\n

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

The next resistance is near $1,690 or the 100-hourly Simple Moving Average. The first major resistance is forming near $1,700 and $1,720. A close above the $1,720 level could start a decent increase in the near term. The next major resistance is near the $1,750 level. Any more gains might send the price toward the $1,820 resistance or even $1,880 in the coming days.<\/p>\n

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

If Ethereum fails to clear the $1,700 resistance, it could start another decline. Initial support on the downside is near the $1,620 level or the 50% Fib retracement level of the recovery wave from the $1,517 swing low to the $1,716 high.<\/p>\n

The first major support is near the $1,600 zone. If there is a downside break below $1,600, there could be more losses. The next major support is near the $1,565 support level. Any more losses might send the price toward the $1,520 level in the near term.<\/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 below the 50 level.<\/p>\n

Major Support Level \u2013 $1,600<\/p>\n

Major Resistance Level \u2013 $1,700<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is struggling to recover above the $1,700 resistance against the US Dollar. ETH could start a fresh decline if it stays below $1,700 and $1,720.<\/em><\/p>\n

Ethereum is struggling to recover above the $1,700 and $1,720 levels.
\nThe price is trading below $1,700 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $1,680 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start another decline if it stays below the $1,700 level in the near term.<\/p>\n

Ethereum Price Consolidates Below $1,700<\/h2>\n

Ethereum\u2019s price started a recovery wave from the $1,520 zone. ETH managed to recover above the $1,550 and $1,580 levels, similar to Bitcoin<\/a>.<\/p>\n

However, the price is struggling to recover above the $1,700 and $1,720 levels. It is now moving lower and trading below the 23.6% Fib retracement level of the recovery wave from the $1,517 swing low to the $1,716 high. There is also a key bearish trend line forming with resistance near $1,680 on the hourly chart of ETH\/USD.<\/p>\n

Ether is now trading below $1,700 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price might face resistance near the $1,680 level and the trend line.<\/p>\n

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

The next resistance is near $1,690 or the 100-hourly Simple Moving Average. The first major resistance is forming near $1,700 and $1,720. A close above the $1,720 level could start a decent increase in the near term. The next major resistance is near the $1,750 level. Any more gains might send the price toward the $1,820 resistance or even $1,880 in the coming days.<\/p>\n

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

If Ethereum fails to clear the $1,700 resistance, it could start another decline. Initial support on the downside is near the $1,620 level or the 50% Fib retracement level of the recovery wave from the $1,517 swing low to the $1,716 high.<\/p>\n

The first major support is near the $1,600 zone. If there is a downside break below $1,600, there could be more losses. The next major support is near the $1,565 support level. Any more losses might send the price toward the $1,520 level in the near term.<\/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 below the 50 level.<\/p>\n

Major Support Level \u2013 $1,600<\/p>\n

Major Resistance Level \u2013 $1,700<\/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-28539","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\/28539","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=28539"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28539\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28539"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}