{"id":520371,"date":"2023-02-21T04:56:56","date_gmt":"2023-02-21T04:56:56","guid":{"rendered":"https:\/\/wncen.com\/?p=520371"},"modified":"2024-06-11T14:32:41","modified_gmt":"2024-06-11T14:32:41","slug":"ethereum-price-breaking-this-confluence-resistance-could-spark-significant-surge","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-breaking-this-confluence-resistance-could-spark-significant-surge\/","title":{"rendered":"Ethereum Price Breaking This Confluence Resistance Could Spark Significant Surge"},"content":{"rendered":"<p><em>Ethereum price is still struggling to clear the $1,720 resistance against the US Dollar. ETH could surge if there is a close above $1,720 and $1,740.<\/em><\/p>\n<ul>\n<li>Ethereum is still facing a major hurdle near $1,720 and $1,740.<\/li>\n<li>The price is trading above $1,660 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $1,715 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start another rally if there is a proper close above the $1,720 resistance.<\/li>\n<\/ul>\n<h2>Ethereum Price Faces Key Hurdle<\/h2>\n<p>Ethereum price made another attempt to clear the $1,720 resistance zone. However, ETH failed to gain pace for a close above the $1,720 resistance, similar to <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-could-skyrocket-25k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">bitcoin<\/a> at $25,000.<\/p>\n<p>The recent high was formed near $1,719 and the price is now consolidating gains. It corrected a few points below the $1,700 level. There was a move below the 23.6% Fib retracement level of the upward move from the $1,651 swing low to $1,719 high.<\/p>\n<p>Ether price is now trading above $1,660 and the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-correction-1635\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. On the upside, the price is facing resistance near the $1,715 level. There is also a key bearish trend line forming with resistance near $1,715 on the hourly chart of ETH\/USD.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-14.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-520372\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-14.png?resize=1834%2C845\" alt=\"Ethereum Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-14.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-14.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-14.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-14.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-14.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-14.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-14.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/p>\n<p>The next major resistance is near the $1,720 zone. A proper close above the $1,720 resistance zone start a major increase. In the stated scenario, the price might rise towards the $1,800 level. Any more gains might open the doors for a move towards the $1,880 level.<\/p>\n<h2>Dips Limited in ETH?<\/h2>\n<p>If ethereum fails to clear the $1,720 resistance, it could start another downside correction. An initial support on the downside is near the $1,685 level and the 100 hourly SMA.<\/p>\n<p>The 50% Fib retracement level of the upward move from the $1,651 swing low to $1,719 high is also near $1,685. The next major support is near the $1,665 zone. If there is a break below $1,665, the price might continue to drop towards the $1,600 support. Any more losses might call for a test of the $1,565 level.<\/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 $1,665<\/p>\n<p>Major Resistance Level \u2013 $1,720<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is still struggling to clear the $1,720 resistance against the US Dollar. ETH could surge if there is a close above $1,720 and $1,740. Ethereum is still facing a major hurdle near $1,720 and $1,740. The price is trading above $1,660 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,715 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start another rally if there is a proper close above the $1,720 resistance. Ethereum Price Faces Key Hurdle Ethereum price made another attempt to clear the $1,720 resistance zone. However, ETH failed to gain pace for a close above the $1,720 resistance, similar to bitcoin at $25,000. The recent high was formed near $1,719 and the price is now consolidating gains. It corrected a few points below the $1,700 level. There was a move below the 23.6% Fib retracement level of the upward move from the $1,651 swing low to $1,719 high. Ether price is now trading above $1,660 and the 100 hourly simple moving average. On the upside, the price is facing resistance near the $1,715 level. There is also a key bearish trend line forming with resistance near $1,715 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com The next major resistance is near the $1,720 zone. A proper close above the $1,720 resistance zone start a major increase. In the stated scenario, the price might rise towards the $1,800 level. Any more gains might open the doors for a move towards the $1,880 level. Dips Limited in ETH? If ethereum fails to clear the $1,720 resistance, it could start another downside correction. An initial support on the downside is near the $1,685 level and the 100 hourly SMA. The 50% Fib retracement level of the upward move from the $1,651 swing low to $1,719 high is also near $1,685. The next major support is near the $1,665 zone. If there is a break below $1,665, the price might continue to drop towards the $1,600 support. Any more losses might call for a test of the $1,565 level. 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 $1,665 Major Resistance Level \u2013 $1,720<\/p>\n","protected":false},"author":67,"featured_media":511243,"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-520371","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>Ethereum Price Breaking This Confluence Resistance Could Spark Significant Surge<\/title>\n<meta name=\"description\" content=\"Ethereum price is still struggling to clear the $1,720 resistance against the US Dollar. 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