Ethereum is holding gains and rising towards $1,600 against the US Dollar. ETH could rally if there is a clear move above the $1,620 resistance zone.<\/p>\n
Ethereum remained stable above the $1,520 and $1,500 support levels.
\nThe price is now trading above $1,550 and the 100 hourly simple moving average.
\nThere is a crucial rising channel forming with support near $1,535 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start another increase if it stays above the $1,520 and $1,500 support levels.<\/p>\n
Ethereum Price Eyes Upside Break<\/p>\n
Ethereum corrected lower below the $1,550 support level<\/a>. The bears were able to push the price below the $1,540 level and the 100 hourly simple moving average.<\/p>\n However, the $1,500 support acted as a strong barrier. Ether price traded as low as $1,513 and recently started an upside correction. There was a move above the $1,550 and $1,560 resistance levels. The price climbed above the 50% Fib retracement level of the recent decline from the $1,620 swing high to $1,513 low.<\/p>\n The price is now trading above $1,550 and the 100 hourly simple moving average<\/a>. There is also a crucial rising channel forming with support near $1,535 on the hourly chart of ETH\/USD.<\/p>\n The pair is now consolidating near the 76.4% Fib retracement level of the recent decline from the $1,620 swing high to $1,513 low. An immediate resistance on the upside is near the $1,610 level. The next major resistance is now forming near the $1,620 level.<\/p>\n <\/a><\/p>\n Source: ETHUSD on TradingView.com<\/a><\/p>\n A clear move above the $1,620 level might start a steady increase towards $1,650 resistance. Any more gains may perhaps open the doors for a move towards the $1,700 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 and the 100 hourly SMA.<\/p>\n The next major support is near $1,535 and the channel trend line, below which ether price might revisit $1,500. Any more losses may perhaps send the price towards the $1,420 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 $1,535<\/p>\n Major Resistance Level \u2013 $1,620<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Ethereum is holding gains and rising towards $1,600 against the US Dollar. ETH could rally if there is a clear move above the $1,620 resistance zone.<\/p>\n Ethereum remained stable above the $1,520 and $1,500 support levels. Ethereum Price Eyes Upside Break<\/p>\n Ethereum corrected lower below the $1,550 support level<\/a>. The bears were able to push the price below the $1,540 level and the 100 hourly simple moving average.<\/p>\n However, the $1,500 support acted as a strong barrier. Ether price traded as low as $1,513 and recently started an upside correction. There was a move above the $1,550 and $1,560 resistance levels. The price climbed above the 50% Fib retracement level of the recent decline from the $1,620 swing high to $1,513 low.<\/p>\n The price is now trading above $1,550 and the 100 hourly simple moving average<\/a>. There is also a crucial rising channel forming with support near $1,535 on the hourly chart of ETH\/USD.<\/p>\n The pair is now consolidating near the 76.4% Fib retracement level of the recent decline from the $1,620 swing high to $1,513 low. An immediate resistance on the upside is near the $1,610 level. The next major resistance is now forming near the $1,620 level.<\/p>\n
\nThe price is now trading above $1,550 and the 100 hourly simple moving average.
\nThere is a crucial rising channel forming with support near $1,535 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start another increase if it stays above the $1,520 and $1,500 support levels.<\/p>\n
![<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nA clear move above the $1,620 level might start a steady increase towards $1,650 resistance. Any more gains may perhaps open the doors for a move towards the $1,700 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 and the 100 hourly SMA.<\/p>\nThe next major support is near $1,535 and the channel trend line, below which ether price might revisit $1,500. Any more losses may perhaps send the price towards the $1,420 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 $1,535<\/p>\nMajor Resistance Level \u2013 $1,620<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nEthereum is holding gains and rising towards $1,600 against the US Dollar. ETH could rally if there is a clear move above the $1,620 resistance zone.<\/p>\nEthereum remained stable above the $1,520 and $1,500 support levels.\nThe price is now trading above $1,550 and the 100 hourly simple moving average.\nThere is a crucial rising channel forming with support near $1,535 on the hourly chart of ETH\/USD (data feed via Kraken).\nThe pair could start another increase if it stays above the $1,520 and $1,500 support levels.<\/p>\nEthereum Price Eyes Upside Break<\/p>\nEthereum corrected lower below the $1,550 support level<\/a>. The bears were able to push the price below the $1,540 level and the 100 hourly simple moving average.<\/p>\nHowever, the $1,500 support acted as a strong barrier. Ether price traded as low as $1,513 and recently started an upside correction. There was a move above the $1,550 and $1,560 resistance levels. The price climbed above the 50% Fib retracement level of the recent decline from the $1,620 swing high to $1,513 low.<\/p>\nThe price is now trading above $1,550 and the 100 hourly simple moving average<\/a>. There is also a crucial rising channel forming with support near $1,535 on the hourly chart of ETH\/USD.<\/p>\nThe pair is now consolidating near the 76.4% Fib retracement level of the recent decline from the $1,620 swing high to $1,513 low. An immediate resistance on the upside is near the $1,610 level. The next major resistance is now forming near the $1,620 level.<\/p>\n<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nA clear move above the $1,620 level might start a steady increase towards $1,650 resistance. Any more gains may perhaps open the doors for a move towards the $1,700 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 and the 100 hourly SMA.<\/p>\nThe next major support is near $1,535 and the channel trend line, below which ether price might revisit $1,500. Any more losses may perhaps send the price towards the $1,420 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 $1,535<\/p>\nMajor Resistance Level \u2013 $1,620<\/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-6841","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\/6841","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=6841"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/6841\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=6841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=6841"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=6841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Ethereum-1.png\"){kind=link}