Ethereum price is moving higher above the ,650 resistance against the US Dollar. ETH price is now trading above ,600 and the 55 simple moving average (4-hours). There is a key contracting triangle forming with support near ,660 on the 4-hours chart (data feed from Coinbase). The pair could climb further if it stays above the ,600 support zone. Ethereum price is consolidating above the ,660 level against the US Dollar. ETH/USD could rise further if it clears the ,750 resistance zone. Ethereum Price Analysis In the past few days, ethereum saw a decent increase above the ,620 level against the US Dollar. ETH price was able to gain pace for a move above the ,650 level and the 55 simple moving average (4-hours). The bulls even pushed the price above the
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- Ethereum price is moving higher above the $1,650 resistance against the US Dollar.
- ETH price is now trading above $1,600 and the 55 simple moving average (4-hours).
- There is a key contracting triangle forming with support near $1,660 on the 4-hours chart (data feed from Coinbase).
- The pair could climb further if it stays above the $1,600 support zone.
Ethereum price is consolidating above the $1,660 level against the US Dollar. ETH/USD could rise further if it clears the $1,750 resistance zone.
Ethereum Price Analysis
In the past few days, ethereum saw a decent increase above the $1,620 level against the US Dollar. ETH price was able to gain pace for a move above the $1,650 level and the 55 simple moving average (4-hours).
The bulls even pushed the price above the $1,700 resistance zone. However, the bears were active near the $1,740 and $1,750 levels. A high was formed near $1,742 and the price saw a downside correction. There was a move below the $1,700 and $1,680 levels.
There was a move below the 23.6% Fib retracement level of the upward move from the $1,462 swing low to $1,742 high. The price is now trading above $1,630 and the 55 simple moving average (4-hours).
There is also a key contracting triangle forming with support near $1,660 on the 4-hours chart. An immediate resistance on the upside is near the $1,720 level. The next major resistance is near the $1,740 zone and the recent swing high.
A clear move above the $1,740 level could send the price towards $1,820. Any more gains could even send the price towards the $1,950 resistance zone or $2,000 in the near term.
On the downside, an initial support is near the $1,660 level and the triangle trend line. The next major support is now near the $1,600 level or the 50% Fib retracement level of the upward move from the $1,462 swing low to $1,742 high.
A break below the $1,600 support could push the price to $1,530. Any more losses could lead the price towards $1,440 or even $1,400 in the coming days.
Ethereum Price
Looking at the chart, Ethereum price is clearly trading above the $1,630 zone and the 55 simple moving average (4-hours). Overall, ether price could climb further if it stays above the $1,600 support 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 – $1,660, followed by the $1,600 zone.
Key Resistance$ Levels – $1,720 and $1,740.