{"id":501500,"date":"2022-09-08T04:28:45","date_gmt":"2022-09-08T04:28:45","guid":{"rendered":"https:\/\/uniquehot.com\/?p=501500"},"modified":"2024-06-11T09:24:21","modified_gmt":"2024-06-11T09:24:21","slug":"ethereum-just-reversed-1700","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-just-reversed-1700\/","title":{"rendered":"TA: Ethereum Just Reversed and $1,700 Seems Imminent, Here\u2019s Why"},"content":{"rendered":"
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.<\/em><\/p>\n Ethereum saw a major decline below the $1,600 support similar to bitcoin<\/a>. ETH even dived below $1,550 before the bulls took a stand.<\/p>\n It seems like the bulls defended the $1,500 support<\/a>. 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.<\/p>\n 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.<\/p>\n 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.<\/p>\n <\/a><\/p>\n 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.<\/p>\n 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.<\/p>\n 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.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n Major Support Level \u2013 $1,585<\/p>\n Major Resistance Level \u2013 $1,650<\/p>\n","protected":false},"excerpt":{"rendered":" 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. The price is now trading above $1,600 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,650 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must clear $1,650 to continue higher towards $1,700 in the near term. Ethereum Price Aims Higher 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 support. 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. Source: ETHUSD on 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. Fresh Decline in 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. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $1,585 Major Resistance Level \u2013 $1,650<\/p>\n","protected":false},"author":67,"featured_media":464489,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,1946,8686,78803],"class_list":["post-501500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price Aims Higher<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in ETH?<\/h2>\n