{"id":500448,"date":"2022-08-30T04:28:54","date_gmt":"2022-08-30T04:28:54","guid":{"rendered":"https:\/\/wncen.com\/?p=500448"},"modified":"2024-06-11T14:23:09","modified_gmt":"2024-06-11T14:23:09","slug":"ethereum-just-reversed-1600-imminent","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-just-reversed-1600-imminent\/","title":{"rendered":"TA: Ethereum Just Reversed and $1,600 is Imminent, Here&#8217;s Why"},"content":{"rendered":"<p><em>Ethereum started a strong recovery from the $1,425 zone against the US Dollar. ETH is back above $1,500 and might rise further towards the $1,600 resistance.<\/em><\/p>\n<ul>\n<li>Ethereum remained well supported above the $1,425 zone.<\/li>\n<li>The price is now trading above $1,500 and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a key bearish trend line with resistance near $1,485 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is eyeing more gains above the $1,560 and $1,565 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Starts Recovery<\/h2>\n<p>Ethereum found support near the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-dives-below-1500\/\" target=\"_blank\" rel=\"noopener \">$1,425 zone<\/a> after a strong decline. ETH formed a base above the $1,425 and $1,440 levels and recently started an upside correction.<\/p>\n<p>There was a clear move above the $1,500 resistance zone. Besides, there was a break above a key bearish trend line with resistance near $1,485 on the hourly chart of ETH\/USD. The pair even climbed above the $1,520 level and the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-loses-steam-1700\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p>There was a clear move above the 23.6% Fib retracement level of the key drop from the $1,707 swing high to $1,423 low. Ether price is now trading above $1,500 and the 100 hourly simple moving average.<\/p>\n<p>It is facing resistance near the $1,560 and $1,565 levels. The stated resistance is near the 50% Fib retracement level of the key drop from the $1,707 swing high to $1,423 low. The next major resistance is now forming near the $1,600 level.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/Ethereum-20.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-500449\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/Ethereum-20.png?resize=1834%2C845\" alt=\"Ethereum Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/Ethereum-20.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/Ethereum-20.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/Ethereum-20.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/Ethereum-20.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/Ethereum-20.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/Ethereum-20.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/Ethereum-20.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/pre>\n<p>A clear move above the $1,600 level might send the price towards $1,640 resistance. Any more gains may perhaps open the doors for a test of the $1,700 resistance in the near term.<\/p>\n<h2>Fresh Decline in ETH?<\/h2>\n<p>If ethereum fails to rise above the $1,565 resistance, it could start another decline. An initial support on the downside is near the $1,530 zone and the 100 hourly simple moving average.<\/p>\n<p>The next major support is near $1,490, below which ether price gain bearish momentum. In the stated case, the price may perhaps decline towards the $1,450 level. Any more losses may perhaps send the price towards the $1,425 zone or the last swing low.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,490<\/p>\n<p>Major Resistance Level \u2013 $1,565<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum started a strong recovery from the $1,425 zone against the US Dollar. ETH is back above $1,500 and might rise further towards the $1,600 resistance. Ethereum remained well supported above the $1,425 zone. The price is now trading above $1,500 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $1,485 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is eyeing more gains above the $1,560 and $1,565 resistance levels. Ethereum Price Starts Recovery Ethereum found support near the $1,425 zone after a strong decline. ETH formed a base above the $1,425 and $1,440 levels and recently started an upside correction. There was a clear move above the $1,500 resistance zone. Besides, there was a break above a key bearish trend line with resistance near $1,485 on the hourly chart of ETH\/USD. The pair even climbed above the $1,520 level and the 100 hourly simple moving average. There was a clear move above the 23.6% Fib retracement level of the key drop from the $1,707 swing high to $1,423 low. Ether price is now trading above $1,500 and the 100 hourly simple moving average. It is facing resistance near the $1,560 and $1,565 levels. The stated resistance is near the 50% Fib retracement level of the key drop from the $1,707 swing high to $1,423 low. The next major resistance is now forming near the $1,600 level. Source: ETHUSD on TradingView.com A clear move above the $1,600 level might send the price towards $1,640 resistance. Any more gains may perhaps open the doors for a test of the $1,700 resistance in the near term. Fresh Decline in ETH? If ethereum fails to rise above the $1,565 resistance, it could start another decline. An initial support on the downside is near the $1,530 zone and the 100 hourly simple moving average. The next major support is near $1,490, below which ether price gain bearish momentum. In the stated case, the price may perhaps decline towards the $1,450 level. Any more losses may perhaps send the price towards the $1,425 zone or the last swing low. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $1,490 Major Resistance Level \u2013 $1,565<\/p>\n","protected":false},"author":67,"featured_media":460745,"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-500448","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<title>TA: Ethereum Just Reversed and $1,600 is Imminent, Here&#039;s Why<\/title>\n<meta name=\"description\" content=\"Ethereum started a strong recovery from the $1,425 zone against the US Dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Ethereum Just Reversed and $1,600 is Imminent, Here&#8217;s Why","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-just-reversed-1600-imminent\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-just-reversed-1600-imminent\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_609209402.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_609209402.jpg?fit=1000%2C554"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","ethusd","ethusdt"],"dateCreated":"2022-08-30T04:28:54Z","datePublished":"2022-08-30T04:28:54Z","dateModified":"2024-06-11T14:23:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Ethereum Just Reversed and $1,600 is Imminent, Here&#8217;s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-just-reversed-1600-imminent\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-just-reversed-1600-imminent\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_609209402.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_609209402.jpg?fit=1000%2C554\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2022-08-30T04:28:54Z\",\"datePublished\":\"2022-08-30T04:28:54Z\",\"dateModified\":\"2024-06-11T14:23:09Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_609209402.jpg?fit=1000%2C554","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/500448"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=500448"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/500448\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/460745"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=500448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=500448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=500448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}