Ethereum extended its increase above the $1,720 level against the US Dollar. ETH is now consolidating above the key $1,670 support zone.<\/p>\n
Ethereum remained in a positive zone but struggled near the $1,785 resistance zone.
\nThe price is now trading above $1,650 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $1,710 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a downside correction if there is a close below $1,670 and $1,650.<\/p>\n
Ethereum Price Holds Key Support<\/p>\n
Ethereum remained in a positive zone above the $1,600 level. ETH even extended its increase above the $1,670 and $1,700 levels.<\/p>\n
It climbed above the $1,750 but there was no move to $1,800. A high was formed near $1,784 and the price started a downside correction. There was a minor move below the $1,730 and $1,720 levels. Ether declined below the 23.6% Fib retracement level of the upward move from the $1,355 swing low to $1,784 high.<\/p>\n
Besides, there was a break below a key bullish trend line with support near $1,710 on the hourly chart of ETH\/USD. The price is now trading above $1,650 and the 100 hourly simple moving average.<\/p>\n
It is also consolidating above the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,720 level. The first major resistance is near the $1,750 zone.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The main resistance is now forming near the $1,785 zone. A clear move above the $1,785 level could even pump the price to $1,850. In the stated case, the price may perhaps rise towards the $1,920 resistance zone.<\/p>\n
Downside Break in ETH?<\/p>\n
If ethereum fails to rise above the $1,750 resistance, it could start a downside correction. An initial support on the downside is near the $1,670 zone and the 100 hourly SMA.<\/p>\n
A clear move below the $1,670 support might spark a move towards the $1,625 level. The next major support is near the 50% Fib retracement level of the upward move from the $1,355 swing low to $1,784 high. Any more losses might even push the price to the $1,500 support.<\/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 below the 50 level.<\/p>\n
Major Support Level \u2013 $1,670<\/p>\n
Major Resistance Level \u2013 $1,750<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum extended its increase above the $1,720 level against the US Dollar. ETH is now consolidating above the key $1,670 support zone.<\/p>\n
Ethereum remained in a positive zone but struggled near the $1,785 resistance zone.
\nThe price is now trading above $1,650 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $1,710 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a downside correction if there is a close below $1,670 and $1,650.<\/p>\n
Ethereum Price Holds Key Support<\/p>\n
Ethereum remained in a positive zone above the $1,600 level. ETH even extended its increase above the $1,670 and $1,700 levels.<\/p>\n
It climbed above the $1,750 but there was no move to $1,800. A high was formed near $1,784 and the price started a downside correction. There was a minor move below the $1,730 and $1,720 levels. Ether declined below the 23.6% Fib retracement level of the upward move from the $1,355 swing low to $1,784 high.<\/p>\n
Besides, there was a break below a key bullish trend line with support near $1,710 on the hourly chart of ETH\/USD. The price is now trading above $1,650 and the 100 hourly simple moving average.<\/p>\n
It is also consolidating above the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,720 level. The first major resistance is near the $1,750 zone.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The main resistance is now forming near the $1,785 zone. A clear move above the $1,785 level could even pump the price to $1,850. In the stated case, the price may perhaps rise towards the $1,920 resistance zone.<\/p>\n
Downside Break in ETH?<\/p>\n
If ethereum fails to rise above the $1,750 resistance, it could start a downside correction. An initial support on the downside is near the $1,670 zone and the 100 hourly SMA.<\/p>\n
A clear move below the $1,670 support might spark a move towards the $1,625 level. The next major support is near the 50% Fib retracement level of the upward move from the $1,355 swing low to $1,784 high. Any more losses might even push the price to the $1,500 support.<\/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 below the 50 level.<\/p>\n
Major Support Level \u2013 $1,670<\/p>\n
Major Resistance Level \u2013 $1,750<\/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-4618","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\/4618","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=4618"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4618\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=4618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=4618"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=4618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}