{"id":496911,"date":"2022-07-28T04:08:36","date_gmt":"2022-07-28T04:08:36","guid":{"rendered":"https:\/\/wncen.com\/?p=496911"},"modified":"2024-06-11T14:21:58","modified_gmt":"2024-06-11T14:21:58","slug":"ethereum-surges-15-pc-1600","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-surges-15-pc-1600\/","title":{"rendered":"TA: Ethereum Surges 15%, Why ETH Could Climb Above $1,700"},"content":{"rendered":"
Ethereum started a strong increase above the $1,600 level against the US Dollar. ETH is up over 15% and might even clear the $1,700 resistance zone.<\/em><\/p>\n Ethereum formed a base above the $1,400 level<\/a> and started a major increase. ETH was able to clear a few key hurdles near the $1,500 and $1,550 levels.<\/p>\n The price jumped over 15% and even surpassed the $1,600 level. There was a break above a key bearish trend line with resistance near $1,450 on the hourly chart of ETH\/USD. The pair climbed sharply and surpassed the 76.4% Fib retracement level of the downward move from the $1,663 swing high to $1,357 low.<\/p>\n It even broke the $1,650 level and now trading near the $1,660 zone. Ether price is now trading above $1,600 and the 100 hourly simple moving average<\/a>. An immediate resistance on the upside is near the $1,675 level. The first major resistance is near the $1,700 zone.<\/p>\n <\/a><\/p>\n The main resistance is now forming near the $1,735 zone. It is near the 1.236 Fib extension level of the downward move from the $1,663 swing high to $1,357 low. A clear move above the $1,735 level could push the price further higher. In the stated case, the price may perhaps rise towards the $1,800 resistance zone.<\/p>\n If ethereum fails to rise above the $1,675 resistance, it could start a downside correction. An initial support on the downside is near the $1,620 zone.<\/p>\n A clear move below the $1,620 support might spark a move towards the $1,580 level. Any more losses might even push the price to the $1,510 support or even the 100 hourly simple moving average in the near term.<\/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 in the overbought zone.<\/p>\n Major Support Level \u2013 $1,620<\/p>\n Major Resistance Level \u2013 $1,675<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum started a strong increase above the $1,600 level against the US Dollar. ETH is up over 15% and might even clear the $1,700 resistance zone. Ethereum started a major increase above the $1,550 and $1,600 levels. The price is now trading above $1,600 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $1,450 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue to rise if there is a clear move above the $1,675 level. Ethereum Price Jumps Above $1,600 Ethereum formed a base above the $1,400 level and started a major increase. ETH was able to clear a few key hurdles near the $1,500 and $1,550 levels. The price jumped over 15% and even surpassed the $1,600 level. There was a break above a key bearish trend line with resistance near $1,450 on the hourly chart of ETH\/USD. The pair climbed sharply and surpassed the 76.4% Fib retracement level of the downward move from the $1,663 swing high to $1,357 low. It even broke the $1,650 level and now trading near the $1,660 zone. Ether price is now trading above $1,600 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,675 level. The first major resistance is near the $1,700 zone. Source: ETHUSD on TradingView.com The main resistance is now forming near the $1,735 zone. It is near the 1.236 Fib extension level of the downward move from the $1,663 swing high to $1,357 low. A clear move above the $1,735 level could push the price further higher. In the stated case, the price may perhaps rise towards the $1,800 resistance zone. Dips Supported in ETH? If ethereum fails to rise above the $1,675 resistance, it could start a downside correction. An initial support on the downside is near the $1,620 zone. A clear move below the $1,620 support might spark a move towards the $1,580 level. Any more losses might even push the price to the $1,510 support or even the 100 hourly simple moving average in the near term. 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 in the overbought zone. Major Support Level \u2013 $1,620 Major Resistance Level \u2013 $1,675<\/p>\n","protected":false},"author":67,"featured_media":463156,"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-496911","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 Jumps Above $1,600<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in ETH?<\/h2>\n