Ethereum was able to clear the $1,650 resistance against the US Dollar. ETH might rise further towards $1,800 if it stays above the $1,625 support.<\/p>\n
Ethereum was able to slowly move higher above $1,640 and $1,650.
\nThe price is now trading above $1,650 and the 100 hourly simple moving average.
\nThere is a major rising channel forming with support near $1,645 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move up if it stays above the $1,625 support zone.<\/p>\n
Ethereum Price Starts Recovery<\/p>\n
Ethereum was able to start an upside correction above the $1,600 resistance zone. ETH climbed above the $1,620 and $1,625 levels, opening the doors for more gains.<\/p>\n
The price broke the 23.6% Fib retracement level of the main drop from the $1,880 swing high to $1,524 low. Ether price even cleared the $1,650 resistance and settled above the 100 hourly simple moving average. Finally, it traded close to the $1,700 resistance, where the bears emerged.<\/p>\n
The price is now trading above $1,650 and the 100 hourly simple moving average. There is also a major rising channel forming with support near $1,645 on the hourly chart of ETH\/USD.<\/p>\n
An immediate resistance on the upside is near the $1,680 level. The first major resistance is now forming near the $1,700 level. It is near the 50% Fib retracement level of the main drop from the $1,880 swing high to $1,524 low. A clear move above the $1,700 level could start a steady increase.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,745 level, above which the price could gain bullish momentum and rise and test the $1,800 resistance.<\/p>\n
Fresh Drop in ETH?<\/p>\n
If ethereum fails to rise above the $1,700 resistance, it could start a fresh decline. An initial support on the downside is near the $1,650 zone, the 100 hourly simple moving average, and the channel trend line.<\/p>\n
The next major support is near $1,625, below which ether price might accelerate lower. In the stated case, the price may perhaps decline towards the $1,550 level. Any more losses may perhaps open the doors for a move towards the $1,520 level.<\/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 above the 50 level.<\/p>\n
Major Support Level \u2013 $1,625<\/p>\n
Major Resistance Level \u2013 $1,700<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum was able to clear the $1,650 resistance against the US Dollar. ETH might rise further towards $1,800 if it stays above the $1,625 support.<\/p>\n
Ethereum was able to slowly move higher above $1,640 and $1,650.
\nThe price is now trading above $1,650 and the 100 hourly simple moving average.
\nThere is a major rising channel forming with support near $1,645 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move up if it stays above the $1,625 support zone.<\/p>\n
Ethereum Price Starts Recovery<\/p>\n
Ethereum was able to start an upside correction above the $1,600 resistance zone. ETH climbed above the $1,620 and $1,625 levels, opening the doors for more gains.<\/p>\n
The price broke the 23.6% Fib retracement level of the main drop from the $1,880 swing high to $1,524 low. Ether price even cleared the $1,650 resistance and settled above the 100 hourly simple moving average. Finally, it traded close to the $1,700 resistance, where the bears emerged.<\/p>\n
The price is now trading above $1,650 and the 100 hourly simple moving average. There is also a major rising channel forming with support near $1,645 on the hourly chart of ETH\/USD.<\/p>\n
An immediate resistance on the upside is near the $1,680 level. The first major resistance is now forming near the $1,700 level. It is near the 50% Fib retracement level of the main drop from the $1,880 swing high to $1,524 low. A clear move above the $1,700 level could start a steady increase.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,745 level, above which the price could gain bullish momentum and rise and test the $1,800 resistance.<\/p>\n
Fresh Drop in ETH?<\/p>\n
If ethereum fails to rise above the $1,700 resistance, it could start a fresh decline. An initial support on the downside is near the $1,650 zone, the 100 hourly simple moving average, and the channel trend line.<\/p>\n
The next major support is near $1,625, below which ether price might accelerate lower. In the stated case, the price may perhaps decline towards the $1,550 level. Any more losses may perhaps open the doors for a move towards the $1,520 level.<\/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 above the 50 level.<\/p>\n
Major Support Level \u2013 $1,625<\/p>\n
Major Resistance Level \u2013 $1,700<\/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-6280","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\/6280","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=6280"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/6280\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=6280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=6280"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=6280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}