Ethereum is showing positive signs above $1,720 against the US Dollar. ETH could start a strong increase if there is a clear move above the $1,850 resistance.<\/p>\n
Ethereum remained well supported above the $1,720 support zone.
\nThe price is now trading below $1,820 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $1,815 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair might start a strong increase if there is a clear move above the $1,850 resistance zone.<\/p>\n
Ethereum Price Holds Support<\/p>\n
Ethereum remained well supported above the $1,720 support zone. A base was formed near $1,725 and there was a fresh increase.<\/p>\n
The price spiked above the $1,800 resistance level and the 100 hourly simple moving average. However, the price struggled to gain pace above the $1,850 level. A high was formed near $1,875 and the price corrected gains. It is now consolidating above the $1,770 level.<\/p>\n
The recent low was formed near $1,753 before the price climbed above $1,780. Ether price is now trading below $1,820 and the 100 hourly simple moving average.<\/p>\n
On the upside, an initial resistance is near the $1,810 level. There is also a major bearish trend line forming with resistance near $1,815 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the recent decline from the $1,875 swing high to $1,753 low.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,830 level. It is near the 61.8% Fib retracement level of the recent decline from the $1,875 swing high to $1,753 low. The main resistance is near the $1,850 level. A clear move above the $1,850 resistance might start a strong increase.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,850 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 close below the $1,720 support could increase selling pressure. In the stated case, the price could slide towards the $1,650 support zone in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now near the 50 level.<\/p>\n
Major Support Level \u2013 $1,720<\/p>\n
Major Resistance Level \u2013 $1,850<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum is showing positive signs above $1,720 against the US Dollar. ETH could start a strong increase if there is a clear move above the $1,850 resistance.<\/p>\n
Ethereum remained well supported above the $1,720 support zone.
\nThe price is now trading below $1,820 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $1,815 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair might start a strong increase if there is a clear move above the $1,850 resistance zone.<\/p>\n
Ethereum Price Holds Support<\/p>\n
Ethereum remained well supported above the $1,720 support zone. A base was formed near $1,725 and there was a fresh increase.<\/p>\n
The price spiked above the $1,800 resistance level and the 100 hourly simple moving average. However, the price struggled to gain pace above the $1,850 level. A high was formed near $1,875 and the price corrected gains. It is now consolidating above the $1,770 level.<\/p>\n
The recent low was formed near $1,753 before the price climbed above $1,780. Ether price is now trading below $1,820 and the 100 hourly simple moving average.<\/p>\n
On the upside, an initial resistance is near the $1,810 level. There is also a major bearish trend line forming with resistance near $1,815 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the recent decline from the $1,875 swing high to $1,753 low.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,830 level. It is near the 61.8% Fib retracement level of the recent decline from the $1,875 swing high to $1,753 low. The main resistance is near the $1,850 level. A clear move above the $1,850 resistance might start a strong increase.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,850 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 close below the $1,720 support could increase selling pressure. In the stated case, the price could slide towards the $1,650 support zone in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now near the 50 level.<\/p>\n
Major Support Level \u2013 $1,720<\/p>\n
Major Resistance Level \u2013 $1,850<\/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-838","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\/838","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=838"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/838\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=838"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}