Ethereum Just ëmgedréint an $ 1,700 schéngt bevirsteet, hei ass firwat

Ethereum started a major recovery wave from $1,500 against the US Dollar. ETH rallied nearly 10% and might aim a move towards the $1,700 resistance.

  • Ethereum started a major increase after the bulls appeared near the $1,500 zone.
  • De Präis handelt elo iwwer $ 1,600 an dem 100 all Stonn einfache bewegt Duerchschnëtt.
  • Et gëtt eng Schlëssel bearish Trendlinn déi sech mat Widderstand bei $ 1,650 op der Stonnekarte vun ETH / USD formt (Datafeed via Kraken).
  • D'Koppel muss $ 1,650 läschen fir méi héich Richtung $ 1,700 a kuerzfristeg weiderzemaachen.

Ethereum Präis zielt méi héich

Ethereum saw a major decline below the $1,600 support similar to bitcoin. ETH even dived below $1,550 before the bulls took a stand.

It seems like the bulls defended the $ 1,500 Ënnerstëtzung. A low was formed near $1,490 and the price started a major increase. There was a clear move above the $1,550 and $1,580 resistance levels. Ether even cleared the 50% Fib retracement level of the key drop from the $1,685 swing high to $1,490 low.

It is now trading above $1,600 and the 100 hourly simple moving average. The price even spiked above the $1,650 level. It is also consolidating near the 76.4% Fib retracement level of the key drop from the $1,685 swing high to $1,490 low.

An immediate resistance on the upside is near the $1,650 level. Besides, there is a key bearish trend line forming with resistance near $1,650 on the hourly chart of ETH/USD.

Ethereum Präis

Source: ETHUSD op TradingView.com

The next major resistance is now forming near the $1,675 level. Any more gains may perhaps open the doors for a move towards the $1,700 resistance in the near term. A clear move above the $1,700 resistance could pump the price towards the $1,800 level.

Frësch Réckgang an der ETH?

If ethereum fails to rise above the $1,650 resistance, it could start a fresh downside correction. An initial support on the downside is near the $1,610 zone.

The next major support is near $1,585 and the 100 hourly simple moving average. A downside break below the $1,585 support might start a sharp decline. In the stated case, ether price might decline towards the $1,540 level.

technesch Indicateuren

Ofleen MACD - De MACD fir ETH / USD verléiert elo Dynamik an der bullish Zone.

Stonn RSI - De RSI fir ETH / USD ass elo iwwer dem 50 Niveau.

Major Support Level - $ 1,585

Major Resistenzniveau - $ 1,650

Source: https://www.newsbtc.com/analysis/eth/ethereum-just-reversed-1700/