{"id":29668,"date":"2023-09-15T04:53:20","date_gmt":"2023-09-15T08:53:20","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=29668"},"modified":"2023-09-15T04:53:20","modified_gmt":"2023-09-15T08:53:20","slug":"ethereum-price-nears-make-or-break-resistance-can-bulls-make-it","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/15\/ethereum-price-nears-make-or-break-resistance-can-bulls-make-it\/","title":{"rendered":"Ethereum Price Nears Make-or-Break Resistance, Can Bulls Make It?"},"content":{"rendered":"

Ethereum price is eyeing a key upside break above $1,650 against the US Dollar. ETH could gain bullish momentum if there is a close above $1,650 and $1,670.<\/em><\/p>\n

Ethereum is moving higher toward the $1,650 resistance.
\nThe price is trading above $1,610 and the 100-hourly Simple Moving Average.
\nThere is a short-term rising channel forming with support near $1,630 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise steadily if there is a close above $1,650 and $1,670.<\/p>\n

Ethereum Price Eyes Upside Break<\/h2>\n

Ethereum\u2019s price formed a base above the $1,580 level and extended its increase. ETH traded above the $1,620 resistance to move into a positive zone, like Bitcoin<\/a>.<\/p>\n

The price is now trading near a key barrier at $1,650, above which it could accelerate higher<\/a>. Ether is now trading above $1,610 and the 100-hourly Simple Moving Average. It is also above the 23.6% Fib retracement level of the recent increase from the $1,582 swing low to the $1,644 high.<\/p>\n

Besides, there is a short-term rising channel forming with support near $1,630 on the hourly chart of ETH\/USD. On the upside, the price might face resistance near the $1,645 level. The next resistance is near the $1,650 level. A close above the $1,650 resistance might push the price toward the $1,670 resistance.<\/p>\n\n

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

To start a steady increase, the price must settle above the $1,670 resistance. 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 Rejection 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 channel trend line.<\/p>\n

The first key support is close to $1,610, the 100-hourly Simple Moving Average, and the 50% Fib retracement level of the recent increase from the $1,582 swing low to the $1,644 high. The next key support is $1,580. A downside break below $1,580 might start another bearish wave. In the stated case, the price could even decline 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 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 $1,610<\/p>\n

Major Resistance Level \u2013 $1,650<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is eyeing a key upside break above $1,650 against the US Dollar. ETH could gain bullish momentum if there is a close above $1,650 and $1,670.<\/em><\/p>\n

Ethereum is moving higher toward the $1,650 resistance.
\nThe price is trading above $1,610 and the 100-hourly Simple Moving Average.
\nThere is a short-term rising channel forming with support near $1,630 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise steadily if there is a close above $1,650 and $1,670.<\/p>\n

Ethereum Price Eyes Upside Break<\/h2>\n

Ethereum\u2019s price formed a base above the $1,580 level and extended its increase. ETH traded above the $1,620 resistance to move into a positive zone, like Bitcoin<\/a>.<\/p>\n

The price is now trading near a key barrier at $1,650, above which it could accelerate higher<\/a>. Ether is now trading above $1,610 and the 100-hourly Simple Moving Average. It is also above the 23.6% Fib retracement level of the recent increase from the $1,582 swing low to the $1,644 high.<\/p>\n

Besides, there is a short-term rising channel forming with support near $1,630 on the hourly chart of ETH\/USD. On the upside, the price might face resistance near the $1,645 level. The next resistance is near the $1,650 level. A close above the $1,650 resistance might push the price toward the $1,670 resistance.<\/p>\n

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

To start a steady increase, the price must settle above the $1,670 resistance. 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 Rejection 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 channel trend line.<\/p>\n

The first key support is close to $1,610, the 100-hourly Simple Moving Average, and the 50% Fib retracement level of the recent increase from the $1,582 swing low to the $1,644 high. The next key support is $1,580. A downside break below $1,580 might start another bearish wave. In the stated case, the price could even decline 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 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 $1,610<\/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-29668","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\/29668","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=29668"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29668\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29668"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}