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{"id":553225,"date":"2023-09-28T04:29:32","date_gmt":"2023-09-28T04:29:32","guid":{"rendered":"https:\/\/uniquehot.com\/?p=553225"},"modified":"2024-06-11T14:10:21","modified_gmt":"2024-06-11T14:10:21","slug":"ethereum-price-faces-rejection-1620","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-faces-rejection-1620\/","title":{"rendered":"Ethereum Price Faces Rejection But Bulls Are Not Out of Woods Yet"},"content":{"rendered":"

Ethereum price is attempting a fresh increase above $1,620 against the US Dollar. ETH must settle above $1,620 and $1,650 to start a decent increase.<\/em><\/p>\n

\n
Ethereum is attempting a recovery wave above the $1,600 level.<\/li>\n
The price is trading above $1,600 and the 100-hourly Simple Moving Average.<\/li>\n
There is a key bullish trend line forming with support near $1,600 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could start a decent increase if there is a close above $1,620 and $1,650.<\/li>\n<\/ul>\n
Ethereum Price Holds Ground<\/h2>\n
Ethereum\u2019s price remained well-supported above the $1,580 level. ETH formed a base above $1,600 and recently moved a few points higher, like Bitcoin<\/a>.<\/p>\n
There was a move above the $1,620 level but upsides were limited. A high was formed near $1,633 before there was a strong bearish reaction. The price trimmed most gains and revisited the $1,580 zone. A low is formed near $1,583 and the price is now rising.<\/p>\n
Ethereum is trading above $1,600 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support near $1,600 on the hourly chart of ETH\/USD.<\/p>\n
On the upside, the price might face resistance near the $1,608 level or the 50% Fib retracement level of the recent decline from the $1,633 swing high to the $1,583 low. The next major resistance is $1,620. It is close to the 76.4% Fib retracement level of the recent decline from the $1,633 swing high to the $1,583 low.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
A push above $1,620 might send Ether further higher in the coming sessions. The main hurdle is still near the $1,650 and $1,660 levels. If the bulls succeed in clearing the $1,660 hurdle, the price could start a decent increase toward the $1,720 resistance. Any more gains might open the doors for a move toward $1,800.<\/p>\n
Another Drop in ETH?<\/h2>\n
If Ethereum fails to clear the $1,620 resistance, it could start another decline. Initial support on the downside is near the $1,600 level and the trend line.<\/p>\n
The next key support is $1,580, below which the price could test the $1,540 support. A downside break below the $1,540 support might spark strong bearish moves. In the stated case, there could be a drop toward the $1,450 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n
Major Support Level \u2013 $1,580<\/p>\n
Major Resistance Level \u2013 $1,620<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price is attempting a fresh increase above $1,620 against the US Dollar. ETH must settle above $1,620 and $1,650 to start a decent increase. Ethereum is attempting a recovery wave above the $1,600 level. The price is trading above $1,600 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $1,600 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a decent increase if there is a close above $1,620 and $1,650. Ethereum Price Holds Ground Ethereum\u2019s price remained well-supported above the $1,580 level. ETH formed a base above $1,600 and recently moved a few points higher, like Bitcoin. There was a move above the $1,620 level but upsides were limited. A high was formed near $1,633 before there was a strong bearish reaction. The price trimmed most gains and revisited the $1,580 zone. A low is formed near $1,583 and the price is now rising. Ethereum is trading above $1,600 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $1,600 on the hourly chart of ETH\/USD. On the upside, the price might face resistance near the $1,608 level or the 50% Fib retracement level of the recent decline from the $1,633 swing high to the $1,583 low. The next major resistance is $1,620. It is close to the 76.4% Fib retracement level of the recent decline from the $1,633 swing high to the $1,583 low. Source: ETHUSD on TradingView.com A push above $1,620 might send Ether further higher in the coming sessions. The main hurdle is still near the $1,650 and $1,660 levels. If the bulls succeed in clearing the $1,660 hurdle, the price could start a decent increase toward the $1,720 resistance. Any more gains might open the doors for a move toward $1,800. Another Drop in ETH? If Ethereum fails to clear the $1,620 resistance, it could start another decline. Initial support on the downside is near the $1,600 level and the trend line. The next key support is $1,580, below which the price could test the $1,540 support. A downside break below the $1,540 support might spark strong bearish moves. In the stated case, there could be a drop toward the $1,450 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $1,580 Major Resistance Level \u2013 $1,620<\/p>\n","protected":false},"author":67,"featured_media":549356,"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":[65296,1946,8686,78803],"class_list":["post-553225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Price Faces Rejection But Bulls Are Not Out of Woods Yet<\/title>\n<meta name=\"description\" content=\"Ethereum price is attempting a fresh increase above $1,620 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 Faces Rejection But Bulls Are Not Out of Woods Yet","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-faces-rejection-1620\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-faces-rejection-1620\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/iStock-908436480.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/iStock-908436480.jpg?fit=1254%2C836"},"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":["ethbtc","ethereum","ethusd","ethusdt"],"dateCreated":"2023-09-28T04:29:32Z","datePublished":"2023-09-28T04:29:32Z","dateModified":"2024-06-11T14:10:21Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Price Faces Rejection But Bulls Are Not Out of Woods Yet\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-price-faces-rejection-1620\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-price-faces-rejection-1620\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/iStock-908436480.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/iStock-908436480.jpg?fit=1254%2C836\"},\"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\":[\"ethbtc\",\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2023-09-28T04:29:32Z\",\"datePublished\":\"2023-09-28T04:29:32Z\",\"dateModified\":\"2024-06-11T14:10:21Z\"}<\/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\/2023\/08\/iStock-908436480.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/553225"}],"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=553225"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/553225\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/549356"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=553225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=553225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=553225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}