Ethereum extended its rally above the $1,550 resistance against the US Dollar. ETH is correcting gains but dips might find bids near $1,460.<\/p>\n
Ethereum gained bullish momentum and even surpassed the $1,550 resistance.
\nThe price is now trading above $1,500 and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $1,420 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to gain pace if there is a clear move above the $1,600 zone.<\/p>\n
Ethereum Price Extended Rally<\/p>\n
Ethereum gained pace after there was a clear move above the $1,350 and $1,400 levels. ETH cleared the $1,500 resistance zone to move further into a positive zone.<\/p>\n
The price even rallied above the $1,550 resistance zone and settled well above the 100 hourly simple moving average. Ether price even spiked above the $1,600 level and traded to a new multi-week high at $1,633. It is now correcting gains below the $1,600 level.<\/p>\n
There was a move below the 23.6% Fib retracement level of the recent rally from the $1,327 swing low to $1,633 high. However, there are many supports near $1,460. There is also a key bullish trend line forming with support near $1,420 on the hourly chart of ETH\/USD.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
An immediate resistance on the upside is near the $1,530 level. The first major resistance is near the $1,550 zone. A clear move above the $1,550 level could send the price higher. The next key barrier is near the $1,620 level, above which the price gain strength and rise towards the $1,700 resistance zone.<\/p>\n
Dips Limited in ETH?<\/p>\n
If ethereum fails to rise above the $1,550 resistance, it could start a downside correction. An initial support on the downside is near the $1,480 zone. The next major support is near the $1,460 zone.<\/p>\n
The 50% Fib retracement level of the recent rally from the $1,327 swing low to $1,633 high is also near $1,460. Any more losses might even push ether price below the trend line support. In the stated case, the price could drop toward the $1,360 level or the 100 hourly simple moving average.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is moving towards the 50 level.<\/p>\n
Major Support Level \u2013 $1,420<\/p>\n
Major Resistance Level \u2013 $1,550<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum extended its rally above the $1,550 resistance against the US Dollar. ETH is correcting gains but dips might find bids near $1,460.<\/p>\n
Ethereum gained bullish momentum and even surpassed the $1,550 resistance.
\nThe price is now trading above $1,500 and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $1,420 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to gain pace if there is a clear move above the $1,600 zone.<\/p>\n
Ethereum Price Extended Rally<\/p>\n
Ethereum gained pace after there was a clear move above the $1,350 and $1,400 levels. ETH cleared the $1,500 resistance zone to move further into a positive zone.<\/p>\n
The price even rallied above the $1,550 resistance zone and settled well above the 100 hourly simple moving average. Ether price even spiked above the $1,600 level and traded to a new multi-week high at $1,633. It is now correcting gains below the $1,600 level.<\/p>\n
There was a move below the 23.6% Fib retracement level of the recent rally from the $1,327 swing low to $1,633 high. However, there are many supports near $1,460. There is also a key bullish trend line forming with support near $1,420 on the hourly chart of ETH\/USD.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
An immediate resistance on the upside is near the $1,530 level. The first major resistance is near the $1,550 zone. A clear move above the $1,550 level could send the price higher. The next key barrier is near the $1,620 level, above which the price gain strength and rise towards the $1,700 resistance zone.<\/p>\n
Dips Limited in ETH?<\/p>\n
If ethereum fails to rise above the $1,550 resistance, it could start a downside correction. An initial support on the downside is near the $1,480 zone. The next major support is near the $1,460 zone.<\/p>\n
The 50% Fib retracement level of the recent rally from the $1,327 swing low to $1,633 high is also near $1,460. Any more losses might even push ether price below the trend line support. In the stated case, the price could drop toward the $1,360 level or the 100 hourly simple moving average.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is moving towards the 50 level.<\/p>\n
Major Support Level \u2013 $1,420<\/p>\n
Major Resistance Level \u2013 $1,550<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-3662","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\/3662","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=3662"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/3662\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=3662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=3662"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=3662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}