Ethereum started a fresh increase above the $1,600 resistance against the US Dollar. ETH is gaining pace and might rise further towards the $1,650 level.<\/p>\n
Ethereum remained well supported above the $1,480 zone.
\nThe price is now trading above $1,550 and the 100 hourly simple moving average.
\nThere is a key rising channel forming with support near $1,510 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair is eyeing more gains above the $1,620 and $1,625 resistance levels.<\/p>\n
Ethereum Price Gains Pace<\/p>\n
Ethereum attempted an upside break<\/a> above the $1,605 level, but struggled. There was a sharp bearish reaction below the $1,560 and $1,550 levels.<\/p>\n Ether price dipped below the $1,520 level and the 100 hourly simple moving average. However, the bulls were active near the $1,500 and $1,480 levels. A low was formed near $1,473 and the price is now rising. There was a clear move above $1,550 and the 100 hourly simple moving average<\/a>.<\/p>\n The price rallied above the 61.8% Fib retracement level of the recent decline from the $1,605 swing high to $1,473 low. It is now consolidating near the $1,600 zone. There is also a key rising channel forming with support near $1,510 on the hourly chart of ETH\/USD<\/p>\n It is facing resistance near the $1,620 and $1,635 levels. \u00a0The stated resistance is near the 1.236 Fib extension level of the recent decline from the $1,605 swing high to $1,473 low. The next major resistance is now forming near the $1,650 level.<\/p>\n <\/a><\/p>\n Source: ETHUSD on TradingView.com<\/a><\/p>\n A clear move above the $1,650 level might send the price towards $1,700 resistance. Any more gains may perhaps open the doors for a test of the $1,750 resistance in the near term.<\/p>\n Fresh Decline in ETH?<\/p>\n If ethereum fails to rise above the $1,620 resistance, it could start another decline. An initial support on the downside is near the $1,560 zone.<\/p>\n The next major support is near $1,540 and the 100 hourly simple moving average, below which ether price gain bearish momentum. In the stated case, the price may perhaps decline towards the $1,520 level. Any more losses may perhaps send the price towards the $1,480 zone.<\/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 $1,540<\/p>\n Major Resistance Level \u2013 $1,635<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Ethereum started a fresh increase above the $1,600 resistance against the US Dollar. ETH is gaining pace and might rise further towards the $1,650 level.<\/p>\n Ethereum remained well supported above the $1,480 zone. Ethereum Price Gains Pace<\/p>\n Ethereum attempted an upside break<\/a> above the $1,605 level, but struggled. There was a sharp bearish reaction below the $1,560 and $1,550 levels.<\/p>\n Ether price dipped below the $1,520 level and the 100 hourly simple moving average. However, the bulls were active near the $1,500 and $1,480 levels. A low was formed near $1,473 and the price is now rising. There was a clear move above $1,550 and the 100 hourly simple moving average<\/a>.<\/p>\n The price rallied above the 61.8% Fib retracement level of the recent decline from the $1,605 swing high to $1,473 low. It is now consolidating near the $1,600 zone. There is also a key rising channel forming with support near $1,510 on the hourly chart of ETH\/USD<\/p>\n It is facing resistance near the $1,620 and $1,635 levels. \u00a0The stated resistance is near the 1.236 Fib extension level of the recent decline from the $1,605 swing high to $1,473 low. The next major resistance is now forming near the $1,650 level.<\/p>\n
\nThe price is now trading above $1,550 and the 100 hourly simple moving average.
\nThere is a key rising channel forming with support near $1,510 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair is eyeing more gains above the $1,620 and $1,625 resistance levels.<\/p>\n
![<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nA clear move above the $1,650 level might send the price towards $1,700 resistance. Any more gains may perhaps open the doors for a test of the $1,750 resistance in the near term.<\/p>\nFresh Decline in ETH?<\/p>\nIf ethereum fails to rise above the $1,620 resistance, it could start another decline. An initial support on the downside is near the $1,560 zone.<\/p>\nThe next major support is near $1,540 and the 100 hourly simple moving average, below which ether price gain bearish momentum. In the stated case, the price may perhaps decline towards the $1,520 level. Any more losses may perhaps send the price towards the $1,480 zone.<\/p>\nTechnical Indicators<\/p>\nHourly MACD \u2013 The MACD for ETH\/USD is now gaining 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 $1,540<\/p>\nMajor Resistance Level \u2013 $1,635<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nEthereum started a fresh increase above the $1,600 resistance against the US Dollar. ETH is gaining pace and might rise further towards the $1,650 level.<\/p>\nEthereum remained well supported above the $1,480 zone.\nThe price is now trading above $1,550 and the 100 hourly simple moving average.\nThere is a key rising channel forming with support near $1,510 on the hourly chart of ETH\/USD (data feed via Kraken).\nThe pair is eyeing more gains above the $1,620 and $1,625 resistance levels.<\/p>\nEthereum Price Gains Pace<\/p>\nEthereum attempted an upside break<\/a> above the $1,605 level, but struggled. There was a sharp bearish reaction below the $1,560 and $1,550 levels.<\/p>\nEther price dipped below the $1,520 level and the 100 hourly simple moving average. However, the bulls were active near the $1,500 and $1,480 levels. A low was formed near $1,473 and the price is now rising. There was a clear move above $1,550 and the 100 hourly simple moving average<\/a>.<\/p>\nThe price rallied above the 61.8% Fib retracement level of the recent decline from the $1,605 swing high to $1,473 low. It is now consolidating near the $1,600 zone. There is also a key rising channel forming with support near $1,510 on the hourly chart of ETH\/USD<\/p>\nIt is facing resistance near the $1,620 and $1,635 levels. \u00a0The stated resistance is near the 1.236 Fib extension level of the recent decline from the $1,605 swing high to $1,473 low. The next major resistance is now forming near the $1,650 level.<\/p>\n<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nA clear move above the $1,650 level might send the price towards $1,700 resistance. Any more gains may perhaps open the doors for a test of the $1,750 resistance in the near term.<\/p>\nFresh Decline in ETH?<\/p>\nIf ethereum fails to rise above the $1,620 resistance, it could start another decline. An initial support on the downside is near the $1,560 zone.<\/p>\nThe next major support is near $1,540 and the 100 hourly simple moving average, below which ether price gain bearish momentum. In the stated case, the price may perhaps decline towards the $1,520 level. Any more losses may perhaps send the price towards the $1,480 zone.<\/p>\nTechnical Indicators<\/p>\nHourly MACD \u2013 The MACD for ETH\/USD is now gaining 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 $1,540<\/p>\nMajor Resistance Level \u2013 $1,635<\/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-6659","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\/6659","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=6659"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/6659\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=6659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=6659"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=6659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Ethereum-21.png\"){kind=link}