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{"id":549354,"date":"2023-08-30T03:30:18","date_gmt":"2023-08-30T03:30:18","guid":{"rendered":"https:\/\/wncen.com\/?p=549354"},"modified":"2024-06-11T14:28:51","modified_gmt":"2024-06-11T14:28:51","slug":"ethereum-rally-loses-steam-1750","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-rally-loses-steam-1750\/","title":{"rendered":"Ethereum Rally Loses Steam, Why ETH Could Revisit Resistance Turned Support"},"content":{"rendered":"

Ethereum price rallied above the $1,700 resistance against the US Dollar. ETH struggled near $1,750 and is currently correcting gains.<\/em><\/p>\n

\n
Ethereum gained momentum above the $1,660 and $1,670 levels.<\/li>\n
The price is trading above $1,700 and the 100-hourly Simple Moving Average.<\/li>\n
There was a break above a key bearish trend line with resistance near $1,650 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair is now correcting gains from the $1,750 resistance.<\/li>\n<\/ul>\n
Ethereum Price Rally Stalls<\/h2>\n
Ethereum\u2019s price was able to start a decent increase from the $1,620 zone. ETH formed a base and started a steady increase above the $1,650 resistance, like Bitcoin<\/a>.<\/p>\n
There was a break above a key bearish trend line with resistance near $1,650 on the hourly chart of ETH\/USD. The pair climbed higher above the $1,670 and $1,700 resistance levels. However, the bears were active near the $1,750 zone.<\/p>\n
A high is formed near $1,747 and the price is now correcting gains. There was a move below the $1,720 level. The price declined below the 23.6% Fib retracement level of the upward move from the $1,639 swing low to the $1,747 high.<\/p>\n
Ether is now trading above $1,700 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price might face resistance near the $1,725 level. The next resistance is near the $1,750 level.<\/p>\n
$\"Ethereum$ <\/p>\n
A close above the $1,750 level might send the price toward the $1,850 zone. If there is a clear move above $1,850, Ethereum could rise toward the $1,920 resistance. Any more gains might send the price toward the $2,000 resistance.<\/p>\n
Are Dips Supported in ETH?<\/h2>\n
If Ethereum fails to clear the $1,750 resistance, it could continue to move down. Initial support on the downside is near the $1,700 level. The first key support is close to $1,680 or the 61.8% Fib retracement level of the upward move from the $1,639 swing low to the $1,747 high.<\/p>\n
The next major support is near the $1,660 level. If there is a downside break below $1,660, the price could accelerate lower toward the $1,620 level. Any more losses might send the price toward the $1,540 level in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is 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 $1,680<\/p>\n
Major Resistance Level \u2013 $1,750<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price rallied above the $1,700 resistance against the US Dollar. ETH struggled near $1,750 and is currently correcting gains. Ethereum gained momentum above the $1,660 and $1,670 levels. The price is trading above $1,700 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $1,650 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is now correcting gains from the $1,750 resistance. Ethereum Price Rally Stalls Ethereum\u2019s price was able to start a decent increase from the $1,620 zone. ETH formed a base and started a steady increase above the $1,650 resistance, like Bitcoin. There was a break above a key bearish trend line with resistance near $1,650 on the hourly chart of ETH\/USD. The pair climbed higher above the $1,670 and $1,700 resistance levels. However, the bears were active near the $1,750 zone. A high is formed near $1,747 and the price is now correcting gains. There was a move below the $1,720 level. The price declined below the 23.6% Fib retracement level of the upward move from the $1,639 swing low to the $1,747 high. Ether is now trading above $1,700 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1,725 level. The next resistance is near the $1,750 level. A close above the $1,750 level might send the price toward the $1,850 zone. If there is a clear move above $1,850, Ethereum could rise toward the $1,920 resistance. Any more gains might send the price toward the $2,000 resistance. Are Dips Supported in ETH? If Ethereum fails to clear the $1,750 resistance, it could continue to move down. Initial support on the downside is near the $1,700 level. The first key support is close to $1,680 or the 61.8% Fib retracement level of the upward move from the $1,639 swing low to the $1,747 high. The next major support is near the $1,660 level. If there is a downside break below $1,660, the price could accelerate lower toward the $1,620 level. Any more losses might send the price toward the $1,540 level in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $1,680 Major Resistance Level \u2013 $1,750<\/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":[8323,1946,8686,78803],"class_list":["post-549354","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 Rally Loses Steam, Why ETH Could Revisit Resistance Turned Support<\/title>\n<meta name=\"description\" content=\"Ethereum price rallied above the $1,700 resistance 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:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Rally Loses Steam, Why ETH Could Revisit Resistance Turned Support","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-rally-loses-steam-1750\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-rally-loses-steam-1750\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/iStock-908436480.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.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:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","ethusd","ethusdt"],"dateCreated":"2023-08-30T03:30:18Z","datePublished":"2023-08-30T03:30:18Z","dateModified":"2024-06-11T14:28:51Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Rally Loses Steam, Why ETH Could Revisit Resistance Turned Support\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-rally-loses-steam-1750\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-rally-loses-steam-1750\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/iStock-908436480.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.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:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2023-08-30T03:30:18Z\",\"datePublished\":\"2023-08-30T03:30:18Z\",\"dateModified\":\"2024-06-11T14:28:51Z\"}<\/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\/2023\/08\/iStock-908436480.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/549354","targetHints":{"allow":["GET"]}}],"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=549354"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/549354\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/549356"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=549354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=549354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=549354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}