Ethereum remained well bid above the $1,720 support against the US Dollar. ETH recovered losses, but it is still facing hurdles near the $1,850 zone.<\/p>\n
Ethereum remained well bid above the $1,720 support zone.
\nThe price is now trading below $1,800 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,840 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair might start a steady increase if there is a clear move above the $1,850 resistance zone.<\/p>\n
Ethereum Price Remains Stable<\/p>\n
Ethereum remained well bid above the $1,700 level and near the $1,720 support zone. A base was formed near $1,720 and there was a fresh increase.<\/p>\n
The price gained pace for a move above the $1,800 level and the 100 hourly simple moving average. There was a clear move above the 50% Fib retracement level of the downward move from the $1,918 swing high to $1,725 low.<\/p>\n
The price spiked above the $1,850 resistance zone. However, the bears remained active near the $1,865 level. Ether failed to clear the 61.8% Fib retracement level of the downward move from the $1,918 swing high to $1,725 low.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
There is also a key bearish trend line forming with resistance near $1,840 on the hourly chart of ETH\/USD. On the upside, an initial resistance is near the $1,830 level. The next major resistance is near the $1,850 and $1,865 levels. A clear move above the $1,865 resistance might start a fresh increase. In the stated case, the price could revisit $1,920. Any more gains might set the pace for a move towards $2,000.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,865 resistance, it could continue to move down. An initial support on the downside is near the $1,770 zone.<\/p>\n
The next major support is near the $1,720 level. A clear move below the $1,720 level might spark a major decline. The next major support might be $1,680. Any more losses could send the price towards the $1,600 level in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $1,720<\/p>\n
Major Resistance Level \u2013 $1,865<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum remained well bid above the $1,720 support against the US Dollar. ETH recovered losses, but it is still facing hurdles near the $1,850 zone.<\/p>\n
Ethereum remained well bid above the $1,720 support zone.
\nThe price is now trading below $1,800 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,840 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair might start a steady increase if there is a clear move above the $1,850 resistance zone.<\/p>\n
Ethereum Price Remains Stable<\/p>\n
Ethereum remained well bid above the $1,700 level and near the $1,720 support zone. A base was formed near $1,720 and there was a fresh increase.<\/p>\n
The price gained pace for a move above the $1,800 level and the 100 hourly simple moving average. There was a clear move above the 50% Fib retracement level of the downward move from the $1,918 swing high to $1,725 low.<\/p>\n
The price spiked above the $1,850 resistance zone. However, the bears remained active near the $1,865 level. Ether failed to clear the 61.8% Fib retracement level of the downward move from the $1,918 swing high to $1,725 low.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
There is also a key bearish trend line forming with resistance near $1,840 on the hourly chart of ETH\/USD. On the upside, an initial resistance is near the $1,830 level. The next major resistance is near the $1,850 and $1,865 levels. A clear move above the $1,865 resistance might start a fresh increase. In the stated case, the price could revisit $1,920. Any more gains might set the pace for a move towards $2,000.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,865 resistance, it could continue to move down. An initial support on the downside is near the $1,770 zone.<\/p>\n
The next major support is near the $1,720 level. A clear move below the $1,720 level might spark a major decline. The next major support might be $1,680. Any more losses could send the price towards the $1,600 level in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $1,720<\/p>\n
Major Resistance Level \u2013 $1,865<\/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-761","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\/761","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=761"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/761\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=761"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}