Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Este artículo también está disponible en español.
Ethereum price started a fresh increase above the $1,600 zone. ETH is now up nearly 15% and might attempt a move above the $1,680 zone.
Ethereum started a decent increase above the $1,550 and $1,600 levels.
The price is trading above $1,550 and the 100-hourly Simple Moving Average.
There was a break above a key bearish trend line with resistance at $1,470 on the hourly chart of ETH/USD (data feed via Kraken).
The pair tested the $1,680 resistance zone and might correct some gains.
Ethereum Price Jumps Over 12%
Ethereum price formed a base above $1,380 and started a fresh increase, like Bitcoin. ETH gained pace for a move above the $1,450 and $1,500 resistance levels.
The bulls even pumped the price above the $1,550 zone. There was a break above a key bearish trend line with resistance at $1,470 on the hourly chart of ETH/USD. The pair even cleared the $1,620 resistance zone. A high was formed at $1,687 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $1,384 swing low to the $1,687 high.
Ethereum price is now trading above $1,550 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $1,650 level.
The next key resistance is near the $1,680 level. The first major resistance is near the $1,720 level. A clear move above the $1,720 resistance might send the price toward the $1,750 resistance. An upside break above the $1,750 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $1,850 resistance zone or even $1,880 in the near term.
Are Dips Limited In ETH?
If Ethereum fails to clear the $1,650 resistance, it could start a downside correction. Initial support on the downside is near the $1,615 level. The first major support sits near the $1,580 zone.
A clear move below the $1,580 support might push the price toward the $1,535 support and the 50% Fib retracement level of the upward move from the $1,384 swing low to the $1,687 high. Any more losses might send the price toward the $1,480 support level in the near term. The next key support sits at $1,420.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $1,535
Major Resistance Level – $1,650
