Ethereum found support near the $1,520 zone against the US Dollar. ETH is attempting an upside correction and might eye a strong move towards $1,800.<\/p>\n
Ethereum remained well bid above the $1,520 level and corrected above $1,600.
\nThe price is now trading below $1,650 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,625 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if there is a clear move above the $1,650 resistance.<\/p>\n
Ethereum Price Faces Hurdle<\/p>\n
Ethereum found support near the $1,520 zone. ETH bears made two attempts to push the price below the $1,520 support, but the bulls remained active.<\/p>\n
A base was formed near $1,520 and the price started a decent increase. There was a move above the $1,580 and $1,600 levels. Ether price even spiked above the 23.6% Fib retracement level of the downward move from the $1,880 swing high to $1,524 low.<\/p>\n
It is now trading below $1,650 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,650 level. There is also a key bearish trend line forming with resistance near $1,625 on the hourly chart of ETH\/USD.<\/p>\n
The first major resistance is now forming near the $1,700 level. It is near the 50% Fib retracement level of the downward move from the $1,880 swing high to $1,524 low. A clear move above the $1,700 level could send the price further higher.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,800 level. A clear move above the $1,800 resistance could even push the price above the $1,850 resistance.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,650 resistance, it could continue to move down. An initial support on the downside is near the $1,560 zone.<\/p>\n
The next major support is near $1,520, below which ether price might accelerate lower. In the stated case, the price may perhaps decline towards the $1,480 level. Any more losses may perhaps open the doors for a move towards the $1,465 level.<\/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 $1,525<\/p>\n
Major Resistance Level \u2013 $1,650<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum found support near the $1,520 zone against the US Dollar. ETH is attempting an upside correction and might eye a strong move towards $1,800.<\/p>\n
Ethereum remained well bid above the $1,520 level and corrected above $1,600.
\nThe price is now trading below $1,650 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,625 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if there is a clear move above the $1,650 resistance.<\/p>\n
Ethereum Price Faces Hurdle<\/p>\n
Ethereum found support near the $1,520 zone. ETH bears made two attempts to push the price below the $1,520 support, but the bulls remained active.<\/p>\n
A base was formed near $1,520 and the price started a decent increase. There was a move above the $1,580 and $1,600 levels. Ether price even spiked above the 23.6% Fib retracement level of the downward move from the $1,880 swing high to $1,524 low.<\/p>\n
It is now trading below $1,650 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,650 level. There is also a key bearish trend line forming with resistance near $1,625 on the hourly chart of ETH\/USD.<\/p>\n
The first major resistance is now forming near the $1,700 level. It is near the 50% Fib retracement level of the downward move from the $1,880 swing high to $1,524 low. A clear move above the $1,700 level could send the price further higher.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,800 level. A clear move above the $1,800 resistance could even push the price above the $1,850 resistance.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,650 resistance, it could continue to move down. An initial support on the downside is near the $1,560 zone.<\/p>\n
The next major support is near $1,520, below which ether price might accelerate lower. In the stated case, the price may perhaps decline towards the $1,480 level. Any more losses may perhaps open the doors for a move towards the $1,465 level.<\/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 $1,525<\/p>\n
Major Resistance Level \u2013 $1,650<\/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-6114","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\/6114","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=6114"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/6114\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=6114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=6114"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=6114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}