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Ethereum Price Revisits $1,700 And $1,800 Seems Imminent, Here’s Why
Ethereum started a fresh increase and retested $1,700 against the US Dollar. ETH is showing positive signs and might rise further towards the $1,800 zone.
Ethereum gained pace and was able to clear the $1,660 resistance zone. The price is now trading above $1,660 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $1,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise further if there is a clear move above the $1,700 resistance.Ethereum Price Reverses Losses
Ethereum price remained well bid above the $1,600 support, similar to bitcoin at $22,500. ETH formed a base above the $1,620 level and recently started a steady increase.
There was a clear move above the $1,650 and $1,660 resistance levels. Besides, there was a break above a key bearish trend line with resistance near $1,640 on the hourly chart of ETH/USD. The pair even retested the $1,700 resistance and formed a high at $1,698 before there was a minor decline.
Ko te utu Ether kei te hokohoko i runga ake i te $1,660 me te 100 haora te toharite neke ngawari. Kei te hokohoko tata ki te taumata 23.6% Fib retracement o te neke whakarunga mai i te $1,624 piu iti ki te $1,698 teitei.
Source: ETHUSD i runga i te TradingView.com
An immediate resistance is near the $1,690 level. The next major resistance is near the $1,700 level. An upside break above the $1,700 resistance zone could spark a fresh increase. In the stated case, the price may perhaps rise towards the $1,750 resistance. Any more gains might send ether price towards the $1,820 resistance zone.
Ka tautokohia nga whiu i te ETH?
If ethereum fails to clear the $1,700 resistance, it could start another downside correction. An initial support on the downside is near the $1,660 level.
The next major support is near the $1,650 zone or the 61.8% Fib retracement level of the upward move from the $1,624 swing low to $1,698 high. If there is a break below $1,650, the price might accelerate lower towards the $1,620 support. Any more losses might call for a test of the $1,600 support zone.
Tohu Hangarau
Maara MACD - Ko te MACD mo te ETH / USD kei te ngaro i te waa i roto i te waahanga uara.
Whanau RSI - Ko te RSI mo ETH / USD kei runga ake nei i te taumata 50.
Taumata Tautoko Nui - $ 1,650
Taumata Whakahoki Nui - $ 1,700
Kuputuhi taketake: NewsBTC