{"id":29210,"date":"2023-09-06T04:53:58","date_gmt":"2023-09-06T08:53:58","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=29210"},"modified":"2023-09-06T04:53:58","modified_gmt":"2023-09-06T08:53:58","slug":"ethereum-price-shows-signs-of-life-but-lacks-momentum-above-1650","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/06\/ethereum-price-shows-signs-of-life-but-lacks-momentum-above-1650\/","title":{"rendered":"Ethereum Price Shows Signs of Life But Lacks Momentum Above $1,650"},"content":{"rendered":"

Ethereum price is attempting a recovery wave above $1,620 against the US Dollar. ETH must settle above $1,650 to start a decent increase.<\/em><\/p>\n

Ethereum is slowly moving higher from the $1,600 support zone.
\nThe price is trading near $1,630 and the 100-hourly Simple Moving Average.
\nThere was a break above two bearish trend lines with resistance near $1,620 and $1,630 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a steady increase if there is a close above the $1,650 resistance.<\/p>\n

Ethereum Price Holds Key Support<\/h2>\n

Ethereum\u2019s price managed to stay above the $1,600 support zone. ETH price is forming a base and is currently attempting a recovery wave above $1,620, like Bitcoin<\/a>.<\/p>\n

There was a break above two bearish trend lines with resistance near $1,620 and $1,630 on the hourly chart of ETH\/USD. The pair retested the 23.6% Fib retracement level of the main decline from the $1,750 swing high to the $1,600 low.<\/p>\n

Ether is now trading near $1,630 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price might face resistance near the $1,645 level. The next resistance is near the $1,660 level, above which the price could rise toward the $1,675 level.<\/p>\n\n

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

The 50% Fib retracement level of the main decline from the $1,750 swing high to the $1,600 low is also near $1,675. The next major barrier is near the $1,700 level. A close above the $1,700 level might push Ethereum into a positive zone. The next resistance might be near $1,750. Any more gains might send the price toward the $1,800 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,660 resistance, it could start another decline. Initial support on the downside is near the $1,620 level. The first key support is close to $1,600. A downside break below $1,600 might increase selling pressure.<\/p>\n

The next major support is near the $1,580 level. If there is a downside break below $1,580, the price could revisit the key $1,540 support level. Any more losses might send the price toward the $1,480 level or even $1,440.<\/p>\n

Technical Indicators<\/p>\n

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

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

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

Major Resistance Level \u2013 $1,660<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is attempting a recovery wave above $1,620 against the US Dollar. ETH must settle above $1,650 to start a decent increase.<\/em><\/p>\n

Ethereum is slowly moving higher from the $1,600 support zone.
\nThe price is trading near $1,630 and the 100-hourly Simple Moving Average.
\nThere was a break above two bearish trend lines with resistance near $1,620 and $1,630 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a steady increase if there is a close above the $1,650 resistance.<\/p>\n

Ethereum Price Holds Key Support<\/h2>\n

Ethereum\u2019s price managed to stay above the $1,600 support zone. ETH price is forming a base and is currently attempting a recovery wave above $1,620, like Bitcoin<\/a>.<\/p>\n

There was a break above two bearish trend lines with resistance near $1,620 and $1,630 on the hourly chart of ETH\/USD. The pair retested the 23.6% Fib retracement level of the main decline from the $1,750 swing high to the $1,600 low.<\/p>\n

Ether is now trading near $1,630 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price might face resistance near the $1,645 level. The next resistance is near the $1,660 level, above which the price could rise toward the $1,675 level.<\/p>\n

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

The 50% Fib retracement level of the main decline from the $1,750 swing high to the $1,600 low is also near $1,675. The next major barrier is near the $1,700 level. A close above the $1,700 level might push Ethereum into a positive zone. The next resistance might be near $1,750. Any more gains might send the price toward the $1,800 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,660 resistance, it could start another decline. Initial support on the downside is near the $1,620 level. The first key support is close to $1,600. A downside break below $1,600 might increase selling pressure.<\/p>\n

The next major support is near the $1,580 level. If there is a downside break below $1,580, the price could revisit the key $1,540 support level. Any more losses might send the price toward the $1,480 level or even $1,440.<\/p>\n

Technical Indicators<\/p>\n

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

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

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

Major Resistance Level \u2013 $1,660<\/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-29210","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\/29210","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=29210"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29210\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29210"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}