{"id":29854,"date":"2023-09-20T03:52:55","date_gmt":"2023-09-20T07:52:55","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=29854"},"modified":"2023-09-20T03:52:55","modified_gmt":"2023-09-20T07:52:55","slug":"ethereum-price-lacks-momentum-above-1660-eth-holders-are-safe-heres-why","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/20\/ethereum-price-lacks-momentum-above-1660-eth-holders-are-safe-heres-why\/","title":{"rendered":"Ethereum Price Lacks Momentum Above $1,660, ETH Holders Are Safe: Here\u2019s Why"},"content":{"rendered":"

Ethereum price is still struggling to gain pace above $1,670 and $1,680 against the US Dollar. ETH must stay above $1,620 to start another increase.<\/em><\/p>\n

Ethereum struggled to clear the $1,660 resistance.
\nThe price is trading above $1,635 and the 100-hourly Simple Moving Average.
\nThere is a key contracting triangle forming with resistance near $1,650 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must stay above the $1,620 support zone to start another increase in the short term.<\/p>\n

Ethereum Price Faces Key Hurdle<\/h2>\n

Ethereum\u2019s price remained well-supported above the $1,620 zone<\/a>. ETH again climbed above the $1,650 resistance but struggled to clear $1,660, unlike Bitcoin<\/a>.<\/p>\n

The price made two attempts to gain strength above $1,660 but failed. A high was formed near $1,660 and the price started a downside correction. There was a move below the $1,650 level. The price declined below the 50% Fib retracement level of the recent increase from the $1,627 swing low to the $1,660 high.<\/p>\n

Ether is now trading above $1,635 and the 100-hourly Simple Moving Average. It is also holding the 76.4% Fib retracement level of the recent increase from the $1,627 swing low to the $1,660 high.<\/p>\n

On the upside, the price might face resistance near the $1,650 level. There is also a key contracting triangle forming with resistance near $1,650 on the hourly chart of ETH\/USD. The next resistance is near the $1,660 level. The main resistance is now forming near $1,670.<\/p>\n\n

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

A close above the $1,670 resistance might send the price toward the $1,750 resistance. The next major hurdle is near the $1,820 level. A close above the $1,820 level might send Ethereum further higher toward $1,950 in the coming days.<\/p>\n

Downside Break 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 $1,635 level and the 100-hourly Simple Moving Average.<\/p>\n

The first key support is close to $1,620. The next key support is $1,600. A clear move below $1,600 might increase selling pressure. In the stated case, the price could even decline 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 $1,620<\/p>\n

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

<\/p>\n

Ethereum price is still struggling to gain pace above $1,670 and $1,680 against the US Dollar. ETH must stay above $1,620 to start another increase.<\/em><\/p>\n

Ethereum struggled to clear the $1,660 resistance.
\nThe price is trading above $1,635 and the 100-hourly Simple Moving Average.
\nThere is a key contracting triangle forming with resistance near $1,650 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must stay above the $1,620 support zone to start another increase in the short term.<\/p>\n

Ethereum Price Faces Key Hurdle<\/h2>\n

Ethereum\u2019s price remained well-supported above the $1,620 zone<\/a>. ETH again climbed above the $1,650 resistance but struggled to clear $1,660, unlike Bitcoin<\/a>.<\/p>\n

The price made two attempts to gain strength above $1,660 but failed. A high was formed near $1,660 and the price started a downside correction. There was a move below the $1,650 level. The price declined below the 50% Fib retracement level of the recent increase from the $1,627 swing low to the $1,660 high.<\/p>\n

Ether is now trading above $1,635 and the 100-hourly Simple Moving Average. It is also holding the 76.4% Fib retracement level of the recent increase from the $1,627 swing low to the $1,660 high.<\/p>\n

On the upside, the price might face resistance near the $1,650 level. There is also a key contracting triangle forming with resistance near $1,650 on the hourly chart of ETH\/USD. The next resistance is near the $1,660 level. The main resistance is now forming near $1,670.<\/p>\n

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

A close above the $1,670 resistance might send the price toward the $1,750 resistance. The next major hurdle is near the $1,820 level. A close above the $1,820 level might send Ethereum further higher toward $1,950 in the coming days.<\/p>\n

Downside Break 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 $1,635 level and the 100-hourly Simple Moving Average.<\/p>\n

The first key support is close to $1,620. The next key support is $1,600. A clear move below $1,600 might increase selling pressure. In the stated case, the price could even decline 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 $1,620<\/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-29854","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\/29854","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=29854"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29854\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29854"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}