Ethereum Price Holds Strong at $1,600: A Strengthening Case for Upside<\/title>\n<meta name=\"description\" content=\"Ethereum price is slowly moving higher above the $1,620 resistance zone against the US Dollar. ETH must surpass $1,650 and $1,670 to continue higher in the near term.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-holds-strong-1600\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Price Holds Strong at $1,600: A Strengthening Case for Upside\" \/>\n<meta property=\"og:description\" content=\"Ethereum price is slowly moving higher above the $1,620 resistance zone against the US Dollar. 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{"id":521105,"date":"2023-02-27T05:57:29","date_gmt":"2023-02-27T05:57:29","guid":{"rendered":"https:\/\/uniquehot.com\/?p=521105"},"modified":"2024-06-11T08:29:18","modified_gmt":"2024-06-11T08:29:18","slug":"ethereum-price-holds-strong-1600","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-holds-strong-1600\/","title":{"rendered":"Ethereum Price Holds Strong at $1,600: A Strengthening Case for Upside"},"content":{"rendered":"

Ethereum price is slowly moving higher above the $1,620 resistance zone against the US Dollar. ETH must surpass $1,650 and $1,670 to continue higher in the near term.<\/em><\/p>\n

\n
Ethereum is recovering higher from the $1,565 support zone.<\/li>\n
The price is trading above $1,620 and the 100 hourly simple moving average.<\/li>\n
There was a break above a major bearish trend line with resistance near $1,615 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could start a decent increase if it clears $1,650 and $1,670 in the near term.<\/li>\n<\/ul>\n
Ethereum Price Recovers Above $1,600<\/h2>\n
Ethereum price extended its decline below the $1.600 support zone. ETH tested the key $1,565 support zone, where the bulls emerged. A low was formed near $1,558 and the price is now rising, similar to bitcoin<\/a>.<\/p>\n
There was a clear move above the $1,600 resistance zone. Besides, there was a break above a major bearish trend line with resistance near $1,615 on the hourly chart of ETH\/USD. There was a move above the 61.8% Fib retracement level of the downward move from the $1,671 swing high to $1,558 low.<\/p>\n
Ether price is now trading above $1,620 and the 100 hourly simple moving average<\/a>. On the upside, the price is facing resistance near the $1,645 level or the 76.4% Fib retracement level of the downward move from the $1,671 swing high to $1,558 low.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
The first major resistance is near the $1,670 zone. The next major resistance is near the $1,700 zone. A close above the $1,700 resistance zone might start a steady increase towards the $1,800 level. Any more gains might open the doors for a move towards the $1,880 level.<\/p>\n
Fresh Decline in ETH?<\/h2>\n
If ethereum fails to clear the $1,670 resistance, it could start another downside correction. An initial support on the downside is near the $1,620 level.<\/p>\n
The next major support is near the $1,585 zone. If there is a break below $1,585, the price might drop towards the $1,565 support. Any more losses might call for a test of the $1,500 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 $1,600<\/p>\n
Major Resistance Level \u2013 $1,670<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price is slowly moving higher above the $1,620 resistance zone against the US Dollar. ETH must surpass $1,650 and $1,670 to continue higher in the near term. Ethereum is recovering higher from the $1,565 support zone. The price is trading above $1,620 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,615 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a decent increase if it clears $1,650 and $1,670 in the near term. Ethereum Price Recovers Above $1,600 Ethereum price extended its decline below the $1.600 support zone. ETH tested the key $1,565 support zone, where the bulls emerged. A low was formed near $1,558 and the price is now rising, similar to bitcoin. There was a clear move above the $1,600 resistance zone. Besides, there was a break above a major bearish trend line with resistance near $1,615 on the hourly chart of ETH\/USD. There was a move above the 61.8% Fib retracement level of the downward move from the $1,671 swing high to $1,558 low. Ether price is now trading above $1,620 and the 100 hourly simple moving average. On the upside, the price is facing resistance near the $1,645 level or the 76.4% Fib retracement level of the downward move from the $1,671 swing high to $1,558 low. Source: ETHUSD on TradingView.com The first major resistance is near the $1,670 zone. The next major resistance is near the $1,700 zone. A close above the $1,700 resistance zone might start a steady increase towards the $1,800 level. Any more gains might open the doors for a move towards the $1,880 level. Fresh Decline in ETH? If ethereum fails to clear the $1,670 resistance, it could start another downside correction. An initial support on the downside is near the $1,620 level. The next major support is near the $1,585 zone. If there is a break below $1,585, the price might drop towards the $1,565 support. Any more losses might call for a test of the $1,500 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 $1,600 Major Resistance Level \u2013 $1,670<\/p>\n","protected":false},"author":67,"featured_media":464009,"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-521105","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 Strong at $1,600: A Strengthening Case for Upside<\/title>\n<meta name=\"description\" content=\"Ethereum price is slowly moving higher above the $1,620 resistance zone 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 Strong at $1,600: A Strengthening Case for Upside","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-holds-strong-1600\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-holds-strong-1600\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_519464068.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_519464068.jpg?fit=1000%2C636"},"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":"2023-02-27T05:57:29Z","datePublished":"2023-02-27T05:57:29Z","dateModified":"2024-06-11T08:29:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Price Holds Strong at $1,600: A Strengthening Case for Upside\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-price-holds-strong-1600\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-price-holds-strong-1600\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_519464068.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_519464068.jpg?fit=1000%2C636\"},\"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\":\"2023-02-27T05:57:29Z\",\"datePublished\":\"2023-02-27T05:57:29Z\",\"dateModified\":\"2024-06-11T08:29:18Z\"}<\/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\/2021\/05\/shutterstock_519464068.jpg?fit=1000%2C636","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/521105"}],"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=521105"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/521105\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/464009"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=521105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=521105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=521105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}