{"id":30298,"date":"2023-09-29T04:52:55","date_gmt":"2023-09-29T08:52:55","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=30298"},"modified":"2023-09-29T04:52:55","modified_gmt":"2023-09-29T08:52:55","slug":"ethereum-price-registers-breakout-but-lacks-momentum-1620-is-the-key","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/29\/ethereum-price-registers-breakout-but-lacks-momentum-1620-is-the-key\/","title":{"rendered":"Ethereum Price Registers Breakout But Lacks Momentum, $1,620 Is The Key"},"content":{"rendered":"

Ethereum price is attempting a fresh increase above $1,650 against the US Dollar. ETH could accelerate higher if it clears the $1,670 resistance.<\/em><\/p>\n

Ethereum is attempting a fresh increase above the $1,620 level.
\nThe price is trading above $1,620 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $1,645 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it clears the $1,670 resistance zone.<\/p>\n

Ethereum Price Climbs Higher<\/h2>\n

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

There was a move above the $1,650 level but upsides were limited. A high was formed near $1,667 and there was a minor downside correction. The price is now trading near the 23.6% Fib retracement level of the upward move from the $1,583 swing low to the $1,667 high.<\/p>\n

Ethereum is trading above $1,640 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support near $1,645 on the hourly chart of ETH\/USD.<\/p>\n

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

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

On the upside, the price might face resistance near the $1,670 level. The next major resistance is $1,720. A clear move above the $1,720 resistance zone could set the pace for a larger increase. In the stated case, the price could visit the $1,800 resistance. The next key resistance might be $1,820. Any more gains might open the doors for a move toward $1,880.<\/p>\n

Are Dips Limited in ETH?<\/h2>\n

If Ethereum fails to clear the $1,670 resistance, it could a downside correction. Initial support on the downside is near the $1,645 level and the trend line.<\/p>\n

The next key support is $1,620 or the, below which the price could test the $1,600 support. A downside break below the $1,600 support might start another bearish wave. In the stated case, there could be a drop toward the $1,540 level.<\/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 above the 50 level.<\/p>\n

Major Support Level \u2013 $1,620<\/p>\n

Major Resistance Level \u2013 $1,670<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is attempting a fresh increase above $1,650 against the US Dollar. ETH could accelerate higher if it clears the $1,670 resistance.<\/em><\/p>\n

Ethereum is attempting a fresh increase above the $1,620 level.
\nThe price is trading above $1,620 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $1,645 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it clears the $1,670 resistance zone.<\/p>\n

Ethereum Price Climbs Higher<\/h2>\n

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

There was a move above the $1,650 level but upsides were limited. A high was formed near $1,667 and there was a minor downside correction. The price is now trading near the 23.6% Fib retracement level of the upward move from the $1,583 swing low to the $1,667 high.<\/p>\n

Ethereum is trading above $1,640 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support near $1,645 on the hourly chart of ETH\/USD.<\/p>\n

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

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

On the upside, the price might face resistance near the $1,670 level. The next major resistance is $1,720. A clear move above the $1,720 resistance zone could set the pace for a larger increase. In the stated case, the price could visit the $1,800 resistance. The next key resistance might be $1,820. Any more gains might open the doors for a move toward $1,880.<\/p>\n

Are Dips Limited in ETH?<\/h2>\n

If Ethereum fails to clear the $1,670 resistance, it could a downside correction. Initial support on the downside is near the $1,645 level and the trend line.<\/p>\n

The next key support is $1,620 or the, below which the price could test the $1,600 support. A downside break below the $1,600 support might start another bearish wave. In the stated case, there could be a drop toward the $1,540 level.<\/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 above the 50 level.<\/p>\n

Major Support Level \u2013 $1,620<\/p>\n

Major Resistance Level \u2013 $1,670<\/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-30298","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\/30298","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=30298"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30298\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=30298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=30298"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=30298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}