Ethereum price started a major increase above the ,700 level against the US Dollar. ETH price is now trading above ,640 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near ,650 on the 4-hours chart (data feed from Coinbase). The pair could rally further if it clears the ,800 resistance zone. Ethereum price is rising above the ,640 level against the US Dollar. ETH/USD could rise further if it clears the ,800 resistance zone. Ethereum Price Analysis This week, ethereum saw a fresh increase from the ,480 zone against the US Dollar. ETH price was able to clear the ,550 and ,600 resistance levels to move into a positive zone. The price even rallied above the ,650 level and the 55 simple
Topics:
Aayush Jindal considers the following as important: Altcoin News, ETH, Ethereum, News, Trading
This could be interesting, too:
Bitcoin Schweiz News writes Die besten Bitcoin-Börsen für die Schweiz: Sortiert nach Trustpilot-Rating
Bitcoin Schweiz News writes Diese 3 Bitcoin-Börsen sind für Anfänger besonders geeignet
Temitope Olatunji writes X Empire Unveils ‘Chill Phase’ Update: Community to Benefit from Expanded Tokenomics
Bhushan Akolkar writes Cardano Investors Continue to Be Hopeful despite 11% ADA Price Drop
- Ethereum price started a major increase above the $1,700 level against the US Dollar.
- ETH price is now trading above $1,640 and the 55 simple moving average (4-hours).
- There was a break above a major bearish trend line with resistance near $1,650 on the 4-hours chart (data feed from Coinbase).
- The pair could rally further if it clears the $1,800 resistance zone.
Ethereum price is rising above the $1,640 level against the US Dollar. ETH/USD could rise further if it clears the $1,800 resistance zone.
Ethereum Price Analysis
This week, ethereum saw a fresh increase from the $1,480 zone against the US Dollar. ETH price was able to clear the $1,550 and $1,600 resistance levels to move into a positive zone.
The price even rallied above the $1,650 level and the 55 simple moving average (4-hours). There was also a break above a major bearish trend line with resistance near $1,650 on the 4-hours chart. However, the price faced sellers near the $1,790 and $1,800 levels. A high is formed near $1,789 and the price is now correcting gains.
There was a minor decline below the $1,760 and $1,750 levels. The price declined below the 23.6% Fib retracement level of the upward move from the $1,489 swing low to $1,689 high.
It is now trading above the $1,640 zone and the 55 simple moving average (4-hours). An immediate resistance is near the $1,750 level. The next major resistance is near the $1,780 zone or $1,800, above which the price could rise towards the $1,880 level.
Any more gains could even send the price towards the $2,000 resistance zone. An intermediate hurdle could be near the $1,920 level.
On the downside, an initial support is near the $1,680 level. The next major support is now near the $1,640 level and the 55 simple moving average (4-hours). It is near the 50% Fib retracement level of the upward move from the $1,489 swing low to $1,689 high.
A break below the $1,640 support could push the price to $1,600. Any more losses could lead the price towards $1,500.
Ethereum Price
Looking at the chart, Ethereum price is clearly trading above the $1,640 zone and the 55 simple moving average (4-hours). Overall, ether price could gain bullish momentum if it clears the $1,800 resistance zone.
Technical indicators
4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is now above the 50 level.
Key Support Levels – $1,640, followed by the $1,600 zone.
Key Resistance$ Levels – $1,780 and $1,800.