Ethereum started a strong recovery from the $1,425 zone against the US Dollar. ETH is back above $1,500 and might rise further towards the $1,600 resistance.<\/p>\n
Ethereum remained well supported above the $1,425 zone.
\nThe price is now trading above $1,500 and the 100 hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance near $1,485 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair is eyeing more gains above the $1,560 and $1,565 resistance levels.<\/p>\n
Ethereum Price Starts Recovery<\/p>\n
Ethereum found support near the $1,425 zone<\/a> after a strong decline. ETH formed a base above the $1,425 and $1,440 levels and recently started an upside correction.<\/p>\n There was a clear move above the $1,500 resistance zone. Besides, there was a break above a key bearish trend line with resistance near $1,485 on the hourly chart of ETH\/USD. The pair even climbed above the $1,520 level and the 100 hourly simple moving average<\/a>.<\/p>\n There was a clear move above the 23.6% Fib retracement level of the key drop from the $1,707 swing high to $1,423 low. Ether price is now trading above $1,500 and the 100 hourly simple moving average.<\/p>\n It is facing resistance near the $1,560 and $1,565 levels. The stated resistance is near the 50% Fib retracement level of the key drop from the $1,707 swing high to $1,423 low. The next major resistance is now forming near the $1,600 level.<\/p>\n <\/a><\/p>\n Source: ETHUSD on TradingView.com<\/a><\/p>\n A clear move above the $1,600 level might send the price towards $1,640 resistance. Any more gains may perhaps open the doors for a test of the $1,700 resistance in the near term.<\/p>\n Fresh Decline in ETH?<\/p>\n If ethereum fails to rise above the $1,565 resistance, it could start another decline. An initial support on the downside is near the $1,530 zone and the 100 hourly simple moving average.<\/p>\n The next major support is near $1,490, below which ether price gain bearish momentum. In the stated case, the price may perhaps decline towards the $1,450 level. Any more losses may perhaps send the price towards the $1,425 zone or the last swing low.<\/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 $1,490<\/p>\n Major Resistance Level \u2013 $1,565<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Ethereum started a strong recovery from the $1,425 zone against the US Dollar. ETH is back above $1,500 and might rise further towards the $1,600 resistance.<\/p>\n Ethereum remained well supported above the $1,425 zone. Ethereum Price Starts Recovery<\/p>\n Ethereum found support near the $1,425 zone<\/a> after a strong decline. ETH formed a base above the $1,425 and $1,440 levels and recently started an upside correction.<\/p>\n There was a clear move above the $1,500 resistance zone. Besides, there was a break above a key bearish trend line with resistance near $1,485 on the hourly chart of ETH\/USD. The pair even climbed above the $1,520 level and the 100 hourly simple moving average<\/a>.<\/p>\n There was a clear move above the 23.6% Fib retracement level of the key drop from the $1,707 swing high to $1,423 low. Ether price is now trading above $1,500 and the 100 hourly simple moving average.<\/p>\n It is facing resistance near the $1,560 and $1,565 levels. The stated resistance is near the 50% Fib retracement level of the key drop from the $1,707 swing high to $1,423 low. The next major resistance is now forming near the $1,600 level.<\/p>\n
\nThe price is now trading above $1,500 and the 100 hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance near $1,485 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair is eyeing more gains above the $1,560 and $1,565 resistance levels.<\/p>\n
![<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nA clear move above the $1,600 level might send the price towards $1,640 resistance. Any more gains may perhaps open the doors for a test of the $1,700 resistance in the near term.<\/p>\nFresh Decline in ETH?<\/p>\nIf ethereum fails to rise above the $1,565 resistance, it could start another decline. An initial support on the downside is near the $1,530 zone and the 100 hourly simple moving average.<\/p>\nThe next major support is near $1,490, below which ether price gain bearish momentum. In the stated case, the price may perhaps decline towards the $1,450 level. Any more losses may perhaps send the price towards the $1,425 zone or the last swing low.<\/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 above the 50 level.<\/p>\nMajor Support Level \u2013 $1,490<\/p>\nMajor Resistance Level \u2013 $1,565<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nEthereum started a strong recovery from the $1,425 zone against the US Dollar. ETH is back above $1,500 and might rise further towards the $1,600 resistance.<\/p>\nEthereum remained well supported above the $1,425 zone.\nThe price is now trading above $1,500 and the 100 hourly simple moving average.\nThere was a break above a key bearish trend line with resistance near $1,485 on the hourly chart of ETH\/USD (data feed via Kraken).\nThe pair is eyeing more gains above the $1,560 and $1,565 resistance levels.<\/p>\nEthereum Price Starts Recovery<\/p>\nEthereum found support near the $1,425 zone<\/a> after a strong decline. ETH formed a base above the $1,425 and $1,440 levels and recently started an upside correction.<\/p>\nThere was a clear move above the $1,500 resistance zone. Besides, there was a break above a key bearish trend line with resistance near $1,485 on the hourly chart of ETH\/USD. The pair even climbed above the $1,520 level and the 100 hourly simple moving average<\/a>.<\/p>\nThere was a clear move above the 23.6% Fib retracement level of the key drop from the $1,707 swing high to $1,423 low. Ether price is now trading above $1,500 and the 100 hourly simple moving average.<\/p>\nIt is facing resistance near the $1,560 and $1,565 levels. The stated resistance is near the 50% Fib retracement level of the key drop from the $1,707 swing high to $1,423 low. The next major resistance is now forming near the $1,600 level.<\/p>\n<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nA clear move above the $1,600 level might send the price towards $1,640 resistance. Any more gains may perhaps open the doors for a test of the $1,700 resistance in the near term.<\/p>\nFresh Decline in ETH?<\/p>\nIf ethereum fails to rise above the $1,565 resistance, it could start another decline. An initial support on the downside is near the $1,530 zone and the 100 hourly simple moving average.<\/p>\nThe next major support is near $1,490, below which ether price gain bearish momentum. In the stated case, the price may perhaps decline towards the $1,450 level. Any more losses may perhaps send the price towards the $1,425 zone or the last swing low.<\/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 above the 50 level.<\/p>\nMajor Support Level \u2013 $1,490<\/p>\nMajor Resistance Level \u2013 $1,565<\/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-6573","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\/6573","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=6573"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/6573\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=6573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=6573"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=6573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Ethereum-20.png\"){kind=link}