Ethereum gained pace above the $1,600 resistance against the US Dollar. ETH is showing positive signs and might even clear the $1,700 resistance.<\/p>\n
Ethereum started a major increase and settled above the $1,600 level.
\nThe price is now trading above $1,650 and the 100 hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance near $1,655 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must clear $1,700 to continue higher towards $1,735 in the near term.<\/p>\n
Ethereum Price Gains Momentum<\/p>\n
Ethereum formed a base and started a major increase<\/a> above $1,600. ETH was able to clear the key $1,620 resistance zone and the 100 hourly simple moving average.<\/p>\n There was a clear move above the 76.4% Fib retracement level of the main decline from the $1,685 swing high to $1,490 low. Besides, there was a break above a key bearish trend line with resistance near $1,655 on the hourly chart of ETH\/USD.<\/p>\n Ether price is now trading above $1,650 and the 100 hourly simple moving average<\/a>. It is also testing the $1,700 resistance zone.<\/p>\n If the bulls remain in action, there could be more upsides above $1,700. An immediate resistance on the upside is near the $1,735 level. It is near the 1.236 Fib extension level of the main decline from the $1,685 swing high to $1,490 low.<\/p>\n <\/a><\/p>\n Source: ETHUSD on TradingView.com<\/a><\/p>\n The next major resistance is near the $1,775 level. Any more gains may perhaps open the doors for a move towards the $1,800 resistance in the near term. If the bulls remain in action, the price could pump towards the $1,880 level.<\/p>\n Dips Supported in ETH?<\/p>\n If ethereum fails to rise above the $1,735 resistance, it could start a downside correction. An initial support on the downside is near the $1,660 zone.<\/p>\n The next major support is near $1,640. The main support is now forming near the $1,600 level and the 100 hourly simple moving average. A downside break below the $1,600 support might start a fresh decline. In the stated case, ether price might drop towards the $1,550 level.<\/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 $1,600<\/p>\n Major Resistance Level \u2013 $1,735<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Ethereum gained pace above the $1,600 resistance against the US Dollar. ETH is showing positive signs and might even clear the $1,700 resistance.<\/p>\n Ethereum started a major increase and settled above the $1,600 level. Ethereum Price Gains Momentum<\/p>\n Ethereum formed a base and started a major increase<\/a> above $1,600. ETH was able to clear the key $1,620 resistance zone and the 100 hourly simple moving average.<\/p>\n There was a clear move above the 76.4% Fib retracement level of the main decline from the $1,685 swing high to $1,490 low. Besides, there was a break above a key bearish trend line with resistance near $1,655 on the hourly chart of ETH\/USD.<\/p>\n Ether price is now trading above $1,650 and the 100 hourly simple moving average<\/a>. It is also testing the $1,700 resistance zone.<\/p>\n If the bulls remain in action, there could be more upsides above $1,700. An immediate resistance on the upside is near the $1,735 level. It is near the 1.236 Fib extension level of the main decline from the $1,685 swing high to $1,490 low.<\/p>\n
\nThe price is now trading above $1,650 and the 100 hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance near $1,655 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must clear $1,700 to continue higher towards $1,735 in the near term.<\/p>\n
![<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nThe next major resistance is near the $1,775 level. Any more gains may perhaps open the doors for a move towards the $1,800 resistance in the near term. If the bulls remain in action, the price could pump towards the $1,880 level.<\/p>\nDips Supported in ETH?<\/p>\nIf ethereum fails to rise above the $1,735 resistance, it could start a downside correction. An initial support on the downside is near the $1,660 zone.<\/p>\nThe next major support is near $1,640. The main support is now forming near the $1,600 level and the 100 hourly simple moving average. A downside break below the $1,600 support might start a fresh decline. In the stated case, ether price might drop towards the $1,550 level.<\/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 $1,600<\/p>\nMajor Resistance Level \u2013 $1,735<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nEthereum gained pace above the $1,600 resistance against the US Dollar. ETH is showing positive signs and might even clear the $1,700 resistance.<\/p>\nEthereum started a major increase and settled above the $1,600 level.\nThe price is now trading above $1,650 and the 100 hourly simple moving average.\nThere was a break above a key bearish trend line with resistance near $1,655 on the hourly chart of ETH\/USD (data feed via Kraken).\nThe pair must clear $1,700 to continue higher towards $1,735 in the near term.<\/p>\nEthereum Price Gains Momentum<\/p>\nEthereum formed a base and started a major increase<\/a> above $1,600. ETH was able to clear the key $1,620 resistance zone and the 100 hourly simple moving average.<\/p>\nThere was a clear move above the 76.4% Fib retracement level of the main decline from the $1,685 swing high to $1,490 low. Besides, there was a break above a key bearish trend line with resistance near $1,655 on the hourly chart of ETH\/USD.<\/p>\nEther price is now trading above $1,650 and the 100 hourly simple moving average<\/a>. It is also testing the $1,700 resistance zone.<\/p>\nIf the bulls remain in action, there could be more upsides above $1,700. An immediate resistance on the upside is near the $1,735 level. It is near the 1.236 Fib extension level of the main decline from the $1,685 swing high to $1,490 low.<\/p>\n<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nThe next major resistance is near the $1,775 level. Any more gains may perhaps open the doors for a move towards the $1,800 resistance in the near term. If the bulls remain in action, the price could pump towards the $1,880 level.<\/p>\nDips Supported in ETH?<\/p>\nIf ethereum fails to rise above the $1,735 resistance, it could start a downside correction. An initial support on the downside is near the $1,660 zone.<\/p>\nThe next major support is near $1,640. The main support is now forming near the $1,600 level and the 100 hourly simple moving average. A downside break below the $1,600 support might start a fresh decline. In the stated case, ether price might drop towards the $1,550 level.<\/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 $1,600<\/p>\nMajor Resistance Level \u2013 $1,735<\/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-7292","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\/7292","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=7292"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/7292\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=7292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=7292"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=7292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Ethereum-6.png\"){kind=link}