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{"id":518734,"date":"2023-02-06T05:01:31","date_gmt":"2023-02-06T05:01:31","guid":{"rendered":"https:\/\/uniquehot.com\/?p=518734"},"modified":"2024-06-11T14:32:13","modified_gmt":"2024-06-11T14:32:13","slug":"ethereum-price-holds-support-1600","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-holds-support-1600\/","title":{"rendered":"Ethereum Price Holds Key Support and Eyes Fresh Move To $1,700"},"content":{"rendered":"

Ethereum corrected lower and traded below $1,640 against the US Dollar. ETH is holding the $1,610 support and might aim a fresh increase.<\/em><\/p>\n

\n
Ethereum started a downside correction below $1,650 and $1,640.<\/li>\n
The price is now trading below $1,650 and the 100 hourly simple moving average.<\/li>\n
There is a key bullish trend line forming with support near $1,615 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could start another increase if it stays above the $1,600 support zone.<\/li>\n<\/ul>\n
Ethereum Price Remains Supported<\/h2>\n
Ethereum price failed to clear the $1,720 resistance zone and corrected lower, similar to bitcoin<\/a>. ETH declined below the $1,650 and $1,640 support levels.<\/p>\n
There was also a spike below the 50% Fib retracement level of the upward move from the $1,530 swing low to $1,715 high. Ether price is now trading below $1,650 and the 100 hourly simple moving average. It seems to be holding a major support near the $1,610 level.<\/p>\n
There is also a key bullish trend line forming with support near $1,615 on the hourly chart of ETH\/USD. An immediate resistance is near the $1,640 level and the 100 hourly simple moving average. The next major resistance is near the $1,660 level. An upside break above the $1,660 resistance zone could spark a fresh increase.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
In the stated case, the price may perhaps rise towards the $1,700 resistance<\/a>. Any more gains might send ether price towards the $1,780 resistance zone.<\/p>\n
More Losses in ETH?<\/h2>\n
If ethereum fails to clear the $1,650 resistance, it could continue to move down. An initial support on the downside is near the $1,610 level and the trend line.<\/p>\n
The next major support is near the $1,600 zone or the 61.8% Fib retracement level of the upward move from the $1,530 swing low to $1,715 high. If there is a break below $1,600, the price might drop towards the $1,565 support. Any more losses might call for a test of the $1,530 support.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $1,600<\/p>\n
Major Resistance Level \u2013 $1,660<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum corrected lower and traded below $1,640 against the US Dollar. ETH is holding the $1,610 support and might aim a fresh increase. Ethereum started a downside correction below $1,650 and $1,640. The price is now trading below $1,650 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,615 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start another increase if it stays above the $1,600 support zone. Ethereum Price Remains Supported Ethereum price failed to clear the $1,720 resistance zone and corrected lower, similar to bitcoin. ETH declined below the $1,650 and $1,640 support levels. There was also a spike below the 50% Fib retracement level of the upward move from the $1,530 swing low to $1,715 high. Ether price is now trading below $1,650 and the 100 hourly simple moving average. It seems to be holding a major support near the $1,610 level. There is also a key bullish trend line forming with support near $1,615 on the hourly chart of ETH\/USD. An immediate resistance is near the $1,640 level and the 100 hourly simple moving average. The next major resistance is near the $1,660 level. An upside break above the $1,660 resistance zone could spark a fresh increase. Source: ETHUSD on TradingView.com In the stated case, the price may perhaps rise towards the $1,700 resistance. Any more gains might send ether price towards the $1,780 resistance zone. More Losses in ETH? If ethereum fails to clear the $1,650 resistance, it could continue to move down. An initial support on the downside is near the $1,610 level and the trend line. The next major support is near the $1,600 zone or the 61.8% Fib retracement level of the upward move from the $1,530 swing low to $1,715 high. If there is a break below $1,600, the price might drop towards the $1,565 support. Any more losses might call for a test of the $1,530 support. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $1,600 Major Resistance Level \u2013 $1,660<\/p>\n","protected":false},"author":67,"featured_media":508278,"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-518734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Price Holds Key Support and Eyes Fresh Move To $1,700<\/title>\n<meta name=\"description\" content=\"Ethereum corrected lower and traded below $1,640 against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Price Holds Key Support and Eyes Fresh Move To $1,700","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-holds-support-1600\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-holds-support-1600\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/shutterstock_729876625-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/shutterstock_729876625-1.jpg?fit=1000%2C668"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","ethusd","ethusdt"],"dateCreated":"2023-02-06T05:01:31Z","datePublished":"2023-02-06T05:01:31Z","dateModified":"2024-06-11T14:32:13Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Price Holds Key Support and Eyes Fresh Move To $1,700\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-price-holds-support-1600\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-price-holds-support-1600\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/shutterstock_729876625-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/shutterstock_729876625-1.jpg?fit=1000%2C668\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2023-02-06T05:01:31Z\",\"datePublished\":\"2023-02-06T05:01:31Z\",\"dateModified\":\"2024-06-11T14:32:13Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/shutterstock_729876625-1.jpg?fit=1000%2C668","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/518734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=518734"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/518734\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/508278"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=518734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=518734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=518734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}