Ethereum was able to clear the $1,700 resistance against the US Dollar. ETH failed to stay above $1,700 and is currently struggling to continue higher.<\/p>\n
Ethereum was able to slowly move higher above $1,650 and $1,700.
\nThe price is now trading above $1,655 and the 100 hourly simple moving average.
\nThere is a crucial rising channel forming with support near $1,670 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move up if it stays above the $1,655 support zone.<\/p>\n
Ethereum Price Tops Near $1,700<\/p>\n
Ethereum started an upside correction above the $1,650 resistance zone<\/a>. ETH climbed above the $1,660 and $1,675 levels to move into a short-term positive zone.<\/p>\n There was a spike above the $1,700 level and a close above the 100 hourly simple moving average<\/a>. Ether price even moved a few points above the 50% Fib retracement level of the key decline from the $1,880 swing high to $1,525 low.<\/p>\n However, the bulls failed to stay above the $1,700 resistance zone. It is now moving lower below $1,680. There is also a crucial rising channel forming with support near $1,670 on the hourly chart of ETH\/USD.<\/p>\n An immediate resistance on the upside is near the $1,700 level. The first major resistance is now forming near the $1,720 level. The next major resistance is near the $1,745 level. It is near the 61.8% Fib retracement level of the key decline from the $1,880 swing high to $1,525 low.<\/p>\n <\/a><\/p>\n Source: ETHUSD on TradingView.com<\/a><\/p>\n A clear move above the $1,745 level might send the price towards $1,800 resistance. Any more gains may perhaps open the doors for a test of the $1,850 resistance.<\/p>\n Fresh Decline in ETH?<\/p>\n If ethereum fails to rise above the $1,720 resistance, it could start a fresh decline. An initial support on the downside is near the $1,670 zone and the channel trend line.<\/p>\n The next major support is near $1,655 and the 100 hourly simple moving average, below which ether price might accelerate lower. In the stated case, the price may perhaps decline towards the $1,600 level. Any more losses may perhaps send the price towards the $1,550 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 below the 50 level.<\/p>\n Major Support Level \u2013 $1,655<\/p>\n Major Resistance Level \u2013 $1,720<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Ethereum was able to clear the $1,700 resistance against the US Dollar. ETH failed to stay above $1,700 and is currently struggling to continue higher.<\/p>\n Ethereum was able to slowly move higher above $1,650 and $1,700. Ethereum Price Tops Near $1,700<\/p>\n Ethereum started an upside correction above the $1,650 resistance zone<\/a>. ETH climbed above the $1,660 and $1,675 levels to move into a short-term positive zone.<\/p>\n There was a spike above the $1,700 level and a close above the 100 hourly simple moving average<\/a>. Ether price even moved a few points above the 50% Fib retracement level of the key decline from the $1,880 swing high to $1,525 low.<\/p>\n However, the bulls failed to stay above the $1,700 resistance zone. It is now moving lower below $1,680. There is also a crucial rising channel forming with support near $1,670 on the hourly chart of ETH\/USD.<\/p>\n An immediate resistance on the upside is near the $1,700 level. The first major resistance is now forming near the $1,720 level. The next major resistance is near the $1,745 level. It is near the 61.8% Fib retracement level of the key decline from the $1,880 swing high to $1,525 low.<\/p>\n
\nThe price is now trading above $1,655 and the 100 hourly simple moving average.
\nThere is a crucial rising channel forming with support near $1,670 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move up if it stays above the $1,655 support zone.<\/p>\n
![<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nA clear move above the $1,745 level might send the price towards $1,800 resistance. Any more gains may perhaps open the doors for a test of the $1,850 resistance.<\/p>\nFresh Decline in ETH?<\/p>\nIf ethereum fails to rise above the $1,720 resistance, it could start a fresh decline. An initial support on the downside is near the $1,670 zone and the channel trend line.<\/p>\nThe next major support is near $1,655 and the 100 hourly simple moving average, below which ether price might accelerate lower. In the stated case, the price may perhaps decline towards the $1,600 level. Any more losses may perhaps send the price towards the $1,550 level.<\/p>\nTechnical Indicators<\/p>\nHourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\nHourly RSI \u2013 The RSI for ETH\/USD is now below the 50 level.<\/p>\nMajor Support Level \u2013 $1,655<\/p>\nMajor Resistance Level \u2013 $1,720<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nEthereum was able to clear the $1,700 resistance against the US Dollar. ETH failed to stay above $1,700 and is currently struggling to continue higher.<\/p>\nEthereum was able to slowly move higher above $1,650 and $1,700.\nThe price is now trading above $1,655 and the 100 hourly simple moving average.\nThere is a crucial rising channel forming with support near $1,670 on the hourly chart of ETH\/USD (data feed via Kraken).\nThe pair could continue to move up if it stays above the $1,655 support zone.<\/p>\nEthereum Price Tops Near $1,700<\/p>\nEthereum started an upside correction above the $1,650 resistance zone<\/a>. ETH climbed above the $1,660 and $1,675 levels to move into a short-term positive zone.<\/p>\nThere was a spike above the $1,700 level and a close above the 100 hourly simple moving average<\/a>. Ether price even moved a few points above the 50% Fib retracement level of the key decline from the $1,880 swing high to $1,525 low.<\/p>\nHowever, the bulls failed to stay above the $1,700 resistance zone. It is now moving lower below $1,680. There is also a crucial rising channel forming with support near $1,670 on the hourly chart of ETH\/USD.<\/p>\nAn immediate resistance on the upside is near the $1,700 level. The first major resistance is now forming near the $1,720 level. The next major resistance is near the $1,745 level. It is near the 61.8% Fib retracement level of the key decline from the $1,880 swing high to $1,525 low.<\/p>\n<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nA clear move above the $1,745 level might send the price towards $1,800 resistance. Any more gains may perhaps open the doors for a test of the $1,850 resistance.<\/p>\nFresh Decline in ETH?<\/p>\nIf ethereum fails to rise above the $1,720 resistance, it could start a fresh decline. An initial support on the downside is near the $1,670 zone and the channel trend line.<\/p>\nThe next major support is near $1,655 and the 100 hourly simple moving average, below which ether price might accelerate lower. In the stated case, the price may perhaps decline towards the $1,600 level. Any more losses may perhaps send the price towards the $1,550 level.<\/p>\nTechnical Indicators<\/p>\nHourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\nHourly RSI \u2013 The RSI for ETH\/USD is now below the 50 level.<\/p>\nMajor Support Level \u2013 $1,655<\/p>\nMajor Resistance Level \u2013 $1,720<\/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-6367","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\/6367","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=6367"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/6367\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=6367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=6367"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=6367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Ethereum-18.png\"){kind=link}