Ethereum Price Revisits $1,700 And $1,800 Seems Imminent, Here’s Why

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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.

Cena éteru sa teraz obchoduje nad 1,660 XNUMX USD a 100 hodinový jednoduchý kĺzavý priemer. Obchoduje sa v blízkosti úrovne 23.6% Fib retracement pohybu nahor z minima 1,624 1,698 USD na maximum XNUMX XNUMX USD.

zdroj: ETHUSD na 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.

Poklesy podporované v ETH?

Ak sa ethereu nepodarí vyčistiť odpor 1,700 1,660 USD, môže to začať ďalšiu korekciu smerom nadol. Počiatočná podpora smerom nadol je blízko úrovne XNUMX XNUMX USD.

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.

Technické indikátory

Hodinová MACD - MACD pre ETH / USD teraz stráca na sile v býčia zóna.

Hodinové RSI - RSI pre ETH / USD je teraz nad úrovňou 50.

Hlavná úroveň podpory - $ 1,650

Úroveň vysokého odporu - $ 1,700

Originálny zdroj: NewsBTC