{"id":29597,"date":"2023-09-14T04:53:11","date_gmt":"2023-09-14T08:53:11","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=29597"},"modified":"2023-09-14T04:53:11","modified_gmt":"2023-09-14T08:53:11","slug":"ethereum-price-looks-primed-for-gains-until-this-changes","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/14\/ethereum-price-looks-primed-for-gains-until-this-changes\/","title":{"rendered":"Ethereum Price Looks Primed For Gains Until This Changes"},"content":{"rendered":"

Ethereum price is slowly moving higher above $1,600 against the US Dollar. ETH could gain bullish momentum unless there is a nasty drop below $1,550.<\/em><\/p>\n

Ethereum is showing a few positive signs for a move above the $1,650 resistance.
\nThe price is trading above $1,600 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance near $1,610 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if there is a close above $1,650 and $1,670.<\/p>\n

Ethereum Price Shows Bullish Signs<\/h2>\n

Ethereum\u2019s price remained well-supported above the $1,550 level<\/a>. ETH climbed higher slowly above the $1,580 and $1,600 resistance levels, like Bitcoin<\/a>.<\/p>\n

There was a break above a key bearish trend line with resistance near $1,610 on the hourly chart of ETH\/USD. The pair even broke the $1,620 resistance. However, the bears are still active below the $1,650 level. A high is formed near $1,638 and the price is now consolidating gains.<\/p>\n

Ether is now trading above $1,600 and the 100-hourly Simple Moving Average. It is also above the 23.6% Fib retracement level of the recent increase from the $1,530 swing low to the $1,638 high.<\/p>\n

On the upside, the price might face resistance near the $1,635 level. The next resistance is near the $1,650 level. A close above the $1,650 resistance might send the price toward the $1,670 resistance. If the price reclaims the $1,670 resistance, there could be a steady increase.<\/p>\n\n

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

The next major hurdle is near the $1,750 level. A close above the $1,750 level might send Ethereum further higher toward $1,880.<\/p>\n

Another Drop 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 $1,600 level and the 100-hourly Simple Moving Average.<\/p>\n

The first key support is close to $1,585 and the 50% Fib retracement level of the recent increase from the $1,530 swing low to the $1,638 high. The next key support is $1,550. A downside break below $1,550 might spark a fresh round of selling. In the stated case, the price could even decline toward the $1,500 level in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is 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 slowly moving higher above $1,600 against the US Dollar. ETH could gain bullish momentum unless there is a nasty drop below $1,550.<\/em><\/p>\n

Ethereum is showing a few positive signs for a move above the $1,650 resistance.
\nThe price is trading above $1,600 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance near $1,610 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if there is a close above $1,650 and $1,670.<\/p>\n

Ethereum Price Shows Bullish Signs<\/h2>\n

Ethereum\u2019s price remained well-supported above the $1,550 level<\/a>. ETH climbed higher slowly above the $1,580 and $1,600 resistance levels, like Bitcoin<\/a>.<\/p>\n

There was a break above a key bearish trend line with resistance near $1,610 on the hourly chart of ETH\/USD. The pair even broke the $1,620 resistance. However, the bears are still active below the $1,650 level. A high is formed near $1,638 and the price is now consolidating gains.<\/p>\n

Ether is now trading above $1,600 and the 100-hourly Simple Moving Average. It is also above the 23.6% Fib retracement level of the recent increase from the $1,530 swing low to the $1,638 high.<\/p>\n

On the upside, the price might face resistance near the $1,635 level. The next resistance is near the $1,650 level. A close above the $1,650 resistance might send the price toward the $1,670 resistance. If the price reclaims the $1,670 resistance, there could be a steady increase.<\/p>\n

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

The next major hurdle is near the $1,750 level. A close above the $1,750 level might send Ethereum further higher toward $1,880.<\/p>\n

Another Drop 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 $1,600 level and the 100-hourly Simple Moving Average.<\/p>\n

The first key support is close to $1,585 and the 50% Fib retracement level of the recent increase from the $1,530 swing low to the $1,638 high. The next key support is $1,550. A downside break below $1,550 might spark a fresh round of selling. In the stated case, the price could even decline toward the $1,500 level in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is 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-29597","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\/29597","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=29597"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29597\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29597"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}