{"id":29266,"date":"2023-09-07T04:52:38","date_gmt":"2023-09-07T08:52:38","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=29266"},"modified":"2023-09-07T04:52:38","modified_gmt":"2023-09-07T08:52:38","slug":"ethereum-price-could-see-lift-off-unless-this-support-gives-way","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/07\/ethereum-price-could-see-lift-off-unless-this-support-gives-way\/","title":{"rendered":"Ethereum Price Could See Lift-off Unless This Support Gives Way"},"content":{"rendered":"

Ethereum price is eyeing an upside break above $1,650 against the US Dollar. ETH must stay above $1,600 to start a fresh increase in the near term.<\/em><\/p>\n

Ethereum is slowly moving higher from the $1,620 support zone.
\nThe price is trading above $1,632 and the 100-hourly Simple Moving Average.
\nThere is a connecting bullish trend line forming with support near $1,622 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 Eyes Fresh Increase<\/h2>\n

Ethereum\u2019s price saw a couple of swing moves below the $1,650 resistance zone. ETH even spiked toward $1,665 but the bears remained active. There was a fresh decline, and the price retested the $1,600 support zone.<\/p>\n

It is again moving higher above $1,620, like Bitcoin<\/a>. Ether is now trading above $1,632 and the 100-hourly Simple Moving Average. Besides, there is a connecting bullish trend line forming with support near $1,622 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price might face resistance near the $1,645 level. It is close to the 50% Fib retracement level of the recent drop from the $1,668 swing high to the $1,624 low.<\/p>\n

The next resistance is near the $1,650 level<\/a> or the 61.8% Fib retracement level of the recent drop from the $1,668 swing high to the $1,624 low, above which the price could rise toward the $1,665 level. The next major hurdle is near the $1,700 level.<\/p>\n\n

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

A close above the $1,700 level might push Ethereum further higher. 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 $1,650 resistance, it could start another decline. Initial support on the downside is near the $1,630 level and the 100-hourly Simple Moving Average.<\/p>\n

The first key support is close to $1,620 and the trend line. The next key support is $1,600. A downside break below $1,600 might put bears in control. 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.<\/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 $1,650<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is eyeing an upside break above $1,650 against the US Dollar. ETH must stay above $1,600 to start a fresh increase in the near term.<\/em><\/p>\n

Ethereum is slowly moving higher from the $1,620 support zone.
\nThe price is trading above $1,632 and the 100-hourly Simple Moving Average.
\nThere is a connecting bullish trend line forming with support near $1,622 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 Eyes Fresh Increase<\/h2>\n

Ethereum\u2019s price saw a couple of swing moves below the $1,650 resistance zone. ETH even spiked toward $1,665 but the bears remained active. There was a fresh decline, and the price retested the $1,600 support zone.<\/p>\n

It is again moving higher above $1,620, like Bitcoin<\/a>. Ether is now trading above $1,632 and the 100-hourly Simple Moving Average. Besides, there is a connecting bullish trend line forming with support near $1,622 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price might face resistance near the $1,645 level. It is close to the 50% Fib retracement level of the recent drop from the $1,668 swing high to the $1,624 low.<\/p>\n

The next resistance is near the $1,650 level<\/a> or the 61.8% Fib retracement level of the recent drop from the $1,668 swing high to the $1,624 low, above which the price could rise toward the $1,665 level. The next major hurdle is near the $1,700 level.<\/p>\n

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

A close above the $1,700 level might push Ethereum further higher. 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 $1,650 resistance, it could start another decline. Initial support on the downside is near the $1,630 level and the 100-hourly Simple Moving Average.<\/p>\n

The first key support is close to $1,620 and the trend line. The next key support is $1,600. A downside break below $1,600 might put bears in control. 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.<\/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 $1,650<\/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-29266","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\/29266","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=29266"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29266\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29266"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}