{"id":30173,"date":"2023-09-27T04:53:00","date_gmt":"2023-09-27T08:53:00","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=30173"},"modified":"2023-09-27T04:53:00","modified_gmt":"2023-09-27T08:53:00","slug":"ethereum-price-stages-recovery-but-can-it-overcome-this-key-hurdle","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/27\/ethereum-price-stages-recovery-but-can-it-overcome-this-key-hurdle\/","title":{"rendered":"Ethereum Price Stages Recovery But Can It Overcome This Key Hurdle?"},"content":{"rendered":"

Ethereum price is eyeing a recovery wave from $1,565 against the US Dollar. ETH could rise steadily if it settles above $1,600 and $1,620.<\/em><\/p>\n

Ethereum is attempting a recovery wave above the $1,580 level.
\nThe price is trading above $1,590 and the 100-hourly Simple Moving Average.
\nThere was a break above a major bearish trend line with resistance near $1,590 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a recovery wave if there is a close above $1,600 and $1,620.<\/p>\n

Ethereum Price Signals Recovery<\/h2>\n

Ethereum\u2019s price remained well-bid above the $1,565 level. ETH seems to be forming a base above $1,565 and is slowly moving higher, like Bitcoin<\/a>.<\/p>\n

The price was able to recover above the $1,580 and $1,590 levels. There was a move above the 23.6% Fib retracement level of the downward move from the $1,669 swing high to the $1,565 low. Besides, there was a break above a major bearish trend line with resistance near $1,590 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum is now trading above $1,590 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1,600 level<\/a>.<\/p>\n

The next major resistance is $1,620. It is close to the 50% Fib retracement level of the downward move from the $1,669 swing high to the $1,565 low. A push above $1,620 might send Ether further higher and there are chances of a steady increase.<\/p>\n

<\/a><\/p>\n

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

The next major resistance is near $1,650 and $1,660. If the bulls succeed in clearing the $1,660 hurdle, the price could start a decent increase toward the $1,720 resistance. Any more gains might open the doors for a move toward $1,800.<\/p>\n

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

If Ethereum fails to clear the $1,620 resistance, it could start another decline. Initial support on the downside is near the $1,580 level.<\/p>\n

The next key support is $1,565, below which the price could test the $1,540 support. If the bulls fail to protect the $1,540 support, there could be a sharp decline. In the stated case, there could be a drop toward the $1,440 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,565<\/p>\n

Major Resistance Level \u2013 $1,620<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is eyeing a recovery wave from $1,565 against the US Dollar. ETH could rise steadily if it settles above $1,600 and $1,620.<\/em><\/p>\n

Ethereum is attempting a recovery wave above the $1,580 level.
\nThe price is trading above $1,590 and the 100-hourly Simple Moving Average.
\nThere was a break above a major bearish trend line with resistance near $1,590 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a recovery wave if there is a close above $1,600 and $1,620.<\/p>\n

Ethereum Price Signals Recovery<\/h2>\n

Ethereum\u2019s price remained well-bid above the $1,565 level. ETH seems to be forming a base above $1,565 and is slowly moving higher, like Bitcoin<\/a>.<\/p>\n

The price was able to recover above the $1,580 and $1,590 levels. There was a move above the 23.6% Fib retracement level of the downward move from the $1,669 swing high to the $1,565 low. Besides, there was a break above a major bearish trend line with resistance near $1,590 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum is now trading above $1,590 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1,600 level<\/a>.<\/p>\n

The next major resistance is $1,620. It is close to the 50% Fib retracement level of the downward move from the $1,669 swing high to the $1,565 low. A push above $1,620 might send Ether further higher and there are chances of a steady increase.<\/p>\n

<\/a><\/p>\n

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

The next major resistance is near $1,650 and $1,660. If the bulls succeed in clearing the $1,660 hurdle, the price could start a decent increase toward the $1,720 resistance. Any more gains might open the doors for a move toward $1,800.<\/p>\n

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

If Ethereum fails to clear the $1,620 resistance, it could start another decline. Initial support on the downside is near the $1,580 level.<\/p>\n

The next key support is $1,565, below which the price could test the $1,540 support. If the bulls fail to protect the $1,540 support, there could be a sharp decline. In the stated case, there could be a drop toward the $1,440 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,565<\/p>\n

Major Resistance Level \u2013 $1,620<\/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-30173","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\/30173","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=30173"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30173\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=30173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=30173"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=30173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}