Ethereum started a major recovery wave from $1,500 against the US Dollar. ETH rallied nearly 10% and might aim a move towards the $1,700 resistance.<\/p>\n
Ethereum started a major increase after the bulls appeared near the $1,500 zone.
\nThe price is now trading above $1,600 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,650 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must clear $1,650 to continue higher towards $1,700 in the near term.<\/p>\n
Ethereum Price Aims Higher<\/p>\n
Ethereum saw a major decline below the $1,600 support similar to bitcoin<\/a>. ETH even dived below $1,550 before the bulls took a stand.<\/p>\n It seems like the bulls defended the $1,500 support<\/a>. A low was formed near $1,490 and the price started a major increase. There was a clear move above the $1,550 and $1,580 resistance levels. Ether even cleared the 50% Fib retracement level of the key drop from the $1,685 swing high to $1,490 low.<\/p>\n It is now trading above $1,600 and the 100 hourly simple moving average. The price even spiked above the $1,650 level. It is also consolidating near the 76.4% Fib retracement level of the key drop from the $1,685 swing high to $1,490 low.<\/p>\n An immediate resistance on the upside is near the $1,650 level. Besides, there is a key bearish trend line forming with resistance near $1,650 on the hourly chart of ETH\/USD.<\/p>\n <\/a><\/p>\n Source: ETHUSD on TradingView.com<\/a><\/p>\n The next major resistance is now forming near the $1,675 level. Any more gains may perhaps open the doors for a move towards the $1,700 resistance in the near term. A clear move above the $1,700 resistance could pump the price towards the $1,800 level.<\/p>\n Fresh Decline in ETH?<\/p>\n If ethereum fails to rise above the $1,650 resistance, it could start a fresh downside correction. An initial support on the downside is near the $1,610 zone.<\/p>\n The next major support is near $1,585 and the 100 hourly simple moving average. A downside break below the $1,585 support might start a sharp decline. In the stated case, ether price might decline towards the $1,540 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 $1,585<\/p>\n Major Resistance Level \u2013 $1,650<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Ethereum started a major recovery wave from $1,500 against the US Dollar. ETH rallied nearly 10% and might aim a move towards the $1,700 resistance.<\/p>\n Ethereum started a major increase after the bulls appeared near the $1,500 zone. Ethereum Price Aims Higher<\/p>\n Ethereum saw a major decline below the $1,600 support similar to bitcoin<\/a>. ETH even dived below $1,550 before the bulls took a stand.<\/p>\n It seems like the bulls defended the $1,500 support<\/a>. A low was formed near $1,490 and the price started a major increase. There was a clear move above the $1,550 and $1,580 resistance levels. Ether even cleared the 50% Fib retracement level of the key drop from the $1,685 swing high to $1,490 low.<\/p>\n It is now trading above $1,600 and the 100 hourly simple moving average. The price even spiked above the $1,650 level. It is also consolidating near the 76.4% Fib retracement level of the key drop from the $1,685 swing high to $1,490 low.<\/p>\n An immediate resistance on the upside is near the $1,650 level. Besides, there is a key bearish trend line forming with resistance near $1,650 on the hourly chart of ETH\/USD.<\/p>\n
\nThe price is now trading above $1,600 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,650 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must clear $1,650 to continue higher towards $1,700 in the near term.<\/p>\n
![<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nThe next major resistance is now forming near the $1,675 level. Any more gains may perhaps open the doors for a move towards the $1,700 resistance in the near term. A clear move above the $1,700 resistance could pump the price towards the $1,800 level.<\/p>\nFresh Decline in ETH?<\/p>\nIf ethereum fails to rise above the $1,650 resistance, it could start a fresh downside correction. An initial support on the downside is near the $1,610 zone.<\/p>\nThe next major support is near $1,585 and the 100 hourly simple moving average. A downside break below the $1,585 support might start a sharp decline. In the stated case, ether price might decline towards the $1,540 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 above the 50 level.<\/p>\nMajor Support Level \u2013 $1,585<\/p>\nMajor Resistance Level \u2013 $1,650<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nEthereum started a major recovery wave from $1,500 against the US Dollar. ETH rallied nearly 10% and might aim a move towards the $1,700 resistance.<\/p>\nEthereum started a major increase after the bulls appeared near the $1,500 zone.\nThe price is now trading above $1,600 and the 100 hourly simple moving average.\nThere is a key bearish trend line forming with resistance near $1,650 on the hourly chart of ETH\/USD (data feed via Kraken).\nThe pair must clear $1,650 to continue higher towards $1,700 in the near term.<\/p>\nEthereum Price Aims Higher<\/p>\nEthereum saw a major decline below the $1,600 support similar to bitcoin<\/a>. ETH even dived below $1,550 before the bulls took a stand.<\/p>\nIt seems like the bulls defended the $1,500 support<\/a>. A low was formed near $1,490 and the price started a major increase. There was a clear move above the $1,550 and $1,580 resistance levels. Ether even cleared the 50% Fib retracement level of the key drop from the $1,685 swing high to $1,490 low.<\/p>\nIt is now trading above $1,600 and the 100 hourly simple moving average. The price even spiked above the $1,650 level. It is also consolidating near the 76.4% Fib retracement level of the key drop from the $1,685 swing high to $1,490 low.<\/p>\nAn immediate resistance on the upside is near the $1,650 level. Besides, there is a key bearish trend line forming with resistance near $1,650 on the hourly chart of ETH\/USD.<\/p>\n<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nThe next major resistance is now forming near the $1,675 level. Any more gains may perhaps open the doors for a move towards the $1,700 resistance in the near term. A clear move above the $1,700 resistance could pump the price towards the $1,800 level.<\/p>\nFresh Decline in ETH?<\/p>\nIf ethereum fails to rise above the $1,650 resistance, it could start a fresh downside correction. An initial support on the downside is near the $1,610 zone.<\/p>\nThe next major support is near $1,585 and the 100 hourly simple moving average. A downside break below the $1,585 support might start a sharp decline. In the stated case, ether price might decline towards the $1,540 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 above the 50 level.<\/p>\nMajor Support Level \u2013 $1,585<\/p>\nMajor Resistance Level \u2013 $1,650<\/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-7192","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\/7192","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=7192"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/7192\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=7192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=7192"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=7192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Ethereum-5.png\"){kind=link}