Ethereum started a strong increase above the $1,600 level against the US Dollar. ETH is up over 15% and might even clear the $1,700 resistance zone.<\/p>\n
Ethereum started a major increase above the $1,550 and $1,600 levels.
\nThe price is now trading above $1,600 and the 100 hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance near $1,450 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 $1,675 level.<\/p>\n
Ethereum Price Jumps Above $1,600<\/p>\n
Ethereum formed a base above the $1,400 level and started a major increase. ETH was able to clear a few key hurdles near the $1,500 and $1,550 levels.<\/p>\n
The price jumped over 15% and even surpassed the $1,600 level. There was a break above a key bearish trend line with resistance near $1,450 on the hourly chart of ETH\/USD. The pair climbed sharply and surpassed the 76.4% Fib retracement level of the downward move from the $1,663 swing high to $1,357 low.<\/p>\n
It even broke the $1,650 level and now trading near the $1,660 zone. Ether price is now trading above $1,600 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,675 level. The first major resistance is near the $1,700 zone.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The main resistance is now forming near the $1,735 zone. It is near the 1.236 Fib extension level of the downward move from the $1,663 swing high to $1,357 low. A clear move above the $1,735 level could push the price further higher. In the stated case, the price may perhaps rise towards the $1,800 resistance zone.<\/p>\n
Dips Supported in ETH?<\/p>\n
If ethereum fails to rise above the $1,675 resistance, it could start a downside correction. An initial support on the downside is near the $1,620 zone.<\/p>\n
A clear move below the $1,620 support might spark a move towards the $1,580 level. Any more losses might even push the price to the $1,510 support or even the 100 hourly simple moving average in the near term.<\/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 now in the overbought zone.<\/p>\n
Major Support Level \u2013 $1,620<\/p>\n
Major Resistance Level \u2013 $1,675<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum started a strong increase above the $1,600 level against the US Dollar. ETH is up over 15% and might even clear the $1,700 resistance zone.<\/p>\n
Ethereum started a major increase above the $1,550 and $1,600 levels.
\nThe price is now trading above $1,600 and the 100 hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance near $1,450 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 $1,675 level.<\/p>\n
Ethereum Price Jumps Above $1,600<\/p>\n
Ethereum formed a base above the $1,400 level and started a major increase. ETH was able to clear a few key hurdles near the $1,500 and $1,550 levels.<\/p>\n
The price jumped over 15% and even surpassed the $1,600 level. There was a break above a key bearish trend line with resistance near $1,450 on the hourly chart of ETH\/USD. The pair climbed sharply and surpassed the 76.4% Fib retracement level of the downward move from the $1,663 swing high to $1,357 low.<\/p>\n
It even broke the $1,650 level and now trading near the $1,660 zone. Ether price is now trading above $1,600 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,675 level. The first major resistance is near the $1,700 zone.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The main resistance is now forming near the $1,735 zone. It is near the 1.236 Fib extension level of the downward move from the $1,663 swing high to $1,357 low. A clear move above the $1,735 level could push the price further higher. In the stated case, the price may perhaps rise towards the $1,800 resistance zone.<\/p>\n
Dips Supported in ETH?<\/p>\n
If ethereum fails to rise above the $1,675 resistance, it could start a downside correction. An initial support on the downside is near the $1,620 zone.<\/p>\n
A clear move below the $1,620 support might spark a move towards the $1,580 level. Any more losses might even push the price to the $1,510 support or even the 100 hourly simple moving average in the near term.<\/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 now in the overbought zone.<\/p>\n
Major Support Level \u2013 $1,620<\/p>\n
Major Resistance Level \u2013 $1,675<\/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-4312","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\/4312","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=4312"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4312\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=4312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=4312"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=4312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}