{"id":28971,"date":"2023-08-31T04:53:31","date_gmt":"2023-08-31T08:53:31","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=28971"},"modified":"2023-08-31T04:53:31","modified_gmt":"2023-08-31T08:53:31","slug":"ethereum-holds-uptrend-support-and-could-aim-fresh-rally-to-1800","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/31\/ethereum-holds-uptrend-support-and-could-aim-fresh-rally-to-1800\/","title":{"rendered":"Ethereum Holds Uptrend Support And Could Aim Fresh Rally To $1,800"},"content":{"rendered":"

Ethereum price is correcting gains from the $1,750 resistance against the US Dollar. ETH is trading above the $1,680 support and might start a fresh increase.<\/em><\/p>\n

Ethereum started a downside correction below the $1,720 level.
\nThe price is trading above $1,690 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance near $1,705 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could soon start a fresh increase above $1,720 and $1,750.<\/p>\n

Ethereum Price Eyes Fresh Increase<\/h2>\n

Ethereum\u2019s price started a decent increase above the $1,700 level. ETH climbed toward the $1,750 zone before the bears appeared, like Bitcoin<\/a>.<\/p>\n

A high was formed near $1,747 and the price recently started a downside correction. There was a move below the $1,720 level. It even traded close to the 50% Fib retracement level of the key increase from the $1,640 swing low to the $1,747 high.<\/p>\n

However, the bulls are active above the $1,680 level. Ether is now trading above $1,690 and the 100-hourly Simple Moving Average<\/a>. Besides, there is a connecting bearish trend line forming with resistance near $1,705 on the hourly chart of ETH\/USD.<\/p>\n\n

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

On the upside, the price might face resistance near the $1,700 level and the trend line. The next resistance is near the $1,710 level. A close above the $1,710 level might send the price toward the $1,750 zone. If there is a clear move above $1,750, Ethereum could rise toward the $1,800 resistance. Any more gains might send the price toward the $1,850 resistance.<\/p>\n

More Losses in ETH?<\/h2>\n

If Ethereum fails to clear the $1,710 resistance, it could continue to move down. Initial support on the downside is near the $1,690 level. The first key support is close to $1,680 or the 61.8% Fib retracement level of the key increase from the $1,640 swing low to the $1,747 high.<\/p>\n

The next major support is near the $1,665 level. If there is a downside break below $1,665, the price could extend its decline toward the $1,620 level. Any more losses might send the price toward the $1,540 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 bullish zone.<\/p>\n

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

Major Support Level \u2013 $1,680<\/p>\n

Major Resistance Level \u2013 $1,710<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is correcting gains from the $1,750 resistance against the US Dollar. ETH is trading above the $1,680 support and might start a fresh increase.<\/em><\/p>\n

Ethereum started a downside correction below the $1,720 level.
\nThe price is trading above $1,690 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance near $1,705 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could soon start a fresh increase above $1,720 and $1,750.<\/p>\n

Ethereum Price Eyes Fresh Increase<\/h2>\n

Ethereum\u2019s price started a decent increase above the $1,700 level. ETH climbed toward the $1,750 zone before the bears appeared, like Bitcoin<\/a>.<\/p>\n

A high was formed near $1,747 and the price recently started a downside correction. There was a move below the $1,720 level. It even traded close to the 50% Fib retracement level of the key increase from the $1,640 swing low to the $1,747 high.<\/p>\n

However, the bulls are active above the $1,680 level. Ether is now trading above $1,690 and the 100-hourly Simple Moving Average<\/a>. Besides, there is a connecting bearish trend line forming with resistance near $1,705 on the hourly chart of ETH\/USD.<\/p>\n

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

On the upside, the price might face resistance near the $1,700 level and the trend line. The next resistance is near the $1,710 level. A close above the $1,710 level might send the price toward the $1,750 zone. If there is a clear move above $1,750, Ethereum could rise toward the $1,800 resistance. Any more gains might send the price toward the $1,850 resistance.<\/p>\n

More Losses in ETH?<\/h2>\n

If Ethereum fails to clear the $1,710 resistance, it could continue to move down. Initial support on the downside is near the $1,690 level. The first key support is close to $1,680 or the 61.8% Fib retracement level of the key increase from the $1,640 swing low to the $1,747 high.<\/p>\n

The next major support is near the $1,665 level. If there is a downside break below $1,665, the price could extend its decline toward the $1,620 level. Any more losses might send the price toward the $1,540 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 bullish zone.<\/p>\n

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

Major Support Level \u2013 $1,680<\/p>\n

Major Resistance Level \u2013 $1,710<\/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-28971","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\/28971","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=28971"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28971\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28971"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}