Ethereum corrected a few points from the $1,633 high against the US Dollar. ETH remains well supported above the $1,480 level and might start a fresh rally.<\/p>\n
Ethereum started a consolidation phase below the $1,600 resistance zone.
\nThe price is now trading above $1,500 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $1,480 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if there is a clear move above the $1,600 zone.<\/p>\n
Ethereum Price Eyes More Upsides<\/p>\n
Ethereum extended rally above the $1,450 and $1,500 levels. ETH cleared the $1,550 resistance zone to move further into a positive zone.<\/p>\n
The price even rallied above the $1,600 resistance zone and settled well above the 100 hourly simple moving average. Ether price traded as high as $1,633 before there was a downside correction. There was a move below the $1,550 support zone.<\/p>\n
The price dipped below the 23.6% Fib retracement level of the upward move from the $1,325 swing low to $1,633 high. However, the bulls were active above the $1,500 support zone.<\/p>\n
Besides, there is a major bullish trend line forming with support near $1,480 on the hourly chart of ETH\/USD. The trend line is near the 50% Fib retracement level of the upward move from the $1,325 swing low to $1,633 high. An immediate resistance on the upside is near the $1,600 level.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The first major resistance is near the $1,630 zone. A clear move above the $1,630 level could start another major increase. The next key barrier is near the $1,700 level, above which the price might gain strength and rise towards the $1,800 resistance zone.<\/p>\n
Dips Supported in ETH?<\/p>\n
If ethereum fails to rise above the $1,600 resistance, it could start a downside correction. An initial support on the downside is near the $1,520 zone.<\/p>\n
The next major support is near the $1,480 zone and the trend line. Any more losses might even push ether price below the $1,450 support. In the stated case, the price could drop toward the $1,400 level or the 100 hourly simple moving average.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now above the 50 level.<\/p>\n
Major Support Level \u2013 $1,480<\/p>\n
Major Resistance Level \u2013 $1,600<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum corrected a few points from the $1,633 high against the US Dollar. ETH remains well supported above the $1,480 level and might start a fresh rally.<\/p>\n
Ethereum started a consolidation phase below the $1,600 resistance zone.
\nThe price is now trading above $1,500 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $1,480 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if there is a clear move above the $1,600 zone.<\/p>\n
Ethereum Price Eyes More Upsides<\/p>\n
Ethereum extended rally above the $1,450 and $1,500 levels. ETH cleared the $1,550 resistance zone to move further into a positive zone.<\/p>\n
The price even rallied above the $1,600 resistance zone and settled well above the 100 hourly simple moving average. Ether price traded as high as $1,633 before there was a downside correction. There was a move below the $1,550 support zone.<\/p>\n
The price dipped below the 23.6% Fib retracement level of the upward move from the $1,325 swing low to $1,633 high. However, the bulls were active above the $1,500 support zone.<\/p>\n
Besides, there is a major bullish trend line forming with support near $1,480 on the hourly chart of ETH\/USD. The trend line is near the 50% Fib retracement level of the upward move from the $1,325 swing low to $1,633 high. An immediate resistance on the upside is near the $1,600 level.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The first major resistance is near the $1,630 zone. A clear move above the $1,630 level could start another major increase. The next key barrier is near the $1,700 level, above which the price might gain strength and rise towards the $1,800 resistance zone.<\/p>\n
Dips Supported in ETH?<\/p>\n
If ethereum fails to rise above the $1,600 resistance, it could start a downside correction. An initial support on the downside is near the $1,520 zone.<\/p>\n
The next major support is near the $1,480 zone and the trend line. Any more losses might even push ether price below the $1,450 support. In the stated case, the price could drop toward the $1,400 level or the 100 hourly simple moving average.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now above the 50 level.<\/p>\n
Major Support Level \u2013 $1,480<\/p>\n
Major Resistance Level \u2013 $1,600<\/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-3750","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\/3750","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=3750"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/3750\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=3750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=3750"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=3750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}