{"id":550467,"date":"2023-09-08T04:14:35","date_gmt":"2023-09-08T04:14:35","guid":{"rendered":"https:\/\/wncen.com\/?p=550467"},"modified":"2024-06-11T14:29:04","modified_gmt":"2024-06-11T14:29:04","slug":"ethereum-price-rally-1670-key","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-rally-1670-key\/","title":{"rendered":"Ethereum Price is Showing Early Signs of Fresh Rally But $1,670 is the Key"},"content":{"rendered":"<p><em>Ethereum price is eyeing an upside break above $1,650 against the US Dollar. ETH could gain bullish momentum if it clears $1,650 and $1,670 in the near term.<\/em><\/p>\n<ul>\n<li>Ethereum is slowly moving higher above the $1,620 support zone.<\/li>\n<li>The price is trading above $1,640 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bullish trend line forming with support near $1,625 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a decent increase if there is a close above the $1,650 and $1,670 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Eyes Upside Break<\/h2>\n<p>Ethereum\u2019s price remained stable above the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-could-see-lift-off-1650\/\" target=\"_blank\" rel=\"noopener \">$1,620 support zone<\/a>. ETH formed a base and made another attempt to clear the $1,650 resistance, like <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-recovery-26000\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>.<\/p>\n<p>There was a spike above the $1,650 resistance zone but the bulls struggled near the next hurdle at $1,670. A high was formed near $1,669 before the price trimmed gains. It traded below the $1,650 level. The bears pushed it below the 50% Fib retracement level of the upward move from the $1,625 swing low to the $1,669 high.<\/p>\n<p>However, the bulls protected the $1,640 zone. It is close to the 61.8% Fib retracement level of the upward move from the $1,625 swing low to the $1,669 high.<\/p>\n<p>Ether is now trading above $1,640 and the 100-hourly Simple Moving Average. Besides, there is a key bullish trend line forming with support near $1,625 on the hourly chart of ETH\/USD. On the upside, the price might face resistance near the $1,650 level.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-550468\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/Ethereum-5.png?resize=1024%2C468\" alt=\"Ethereum Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/Ethereum-5.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/Ethereum-5.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/Ethereum-5.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/Ethereum-5.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/Ethereum-5.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/Ethereum-5.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/Ethereum-5.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/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 resistance is near the $1,670 level, above which the price could rise toward the $1,720 level. The next major hurdle is near the $1,750 level. A close above the $1,750 level might send Ethereum further higher. The next resistance might be near $1,820. Any more gains might send the price toward the $1,880 resistance.<\/p>\n<h2>Another Decline in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,670 resistance, it could start another decline. Initial support on the downside is near the $1,642 level.<\/p>\n<p>The first key support is close to $1,635 and the 100-hourly Simple Moving Average. The next key support is $1,625 and the trend line. A downside break below $1,625 might push it to $1,600. If there is a downside break below $1,600, the price could revisit the key $1,540 support level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is slowly gaining 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 $1,625<\/p>\n<p>Major Resistance Level \u2013 $1,670<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is eyeing an upside break above $1,650 against the US Dollar. ETH could gain bullish momentum if it clears $1,650 and $1,670 in the near term. Ethereum is slowly moving higher above the $1,620 support zone. The price is trading above $1,640 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $1,625 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a decent increase if there is a close above the $1,650 and $1,670 resistance levels. Ethereum Price Eyes Upside Break Ethereum\u2019s price remained stable above the $1,620 support zone. ETH formed a base and made another attempt to clear the $1,650 resistance, like Bitcoin. There was a spike above the $1,650 resistance zone but the bulls struggled near the next hurdle at $1,670. A high was formed near $1,669 before the price trimmed gains. It traded below the $1,650 level. The bears pushed it below the 50% Fib retracement level of the upward move from the $1,625 swing low to the $1,669 high. However, the bulls protected the $1,640 zone. It is close to the 61.8% Fib retracement level of the upward move from the $1,625 swing low to the $1,669 high. Ether is now trading above $1,640 and the 100-hourly Simple Moving Average. Besides, there is a key bullish trend line forming with support near $1,625 on the hourly chart of ETH\/USD. On the upside, the price might face resistance near the $1,650 level. Source: ETHUSD on TradingView.com The next resistance is near the $1,670 level, above which the price could rise toward the $1,720 level. The next major hurdle is near the $1,750 level. A close above the $1,750 level might send Ethereum further higher. The next resistance might be near $1,820. Any more gains might send the price toward the $1,880 resistance. Another Decline in ETH? If Ethereum fails to clear the $1,670 resistance, it could start another decline. Initial support on the downside is near the $1,642 level. The first key support is close to $1,635 and the 100-hourly Simple Moving Average. The next key support is $1,625 and the trend line. A downside break below $1,625 might push it to $1,600. If there is a downside break below $1,600, the price could revisit the key $1,540 support level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly gaining momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $1,625 Major Resistance Level \u2013 $1,670<\/p>\n","protected":false},"author":67,"featured_media":460240,"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-550467","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 is Showing Early Signs of Fresh Rally But $1,670 is the Key<\/title>\n<meta name=\"description\" content=\"Ethereum price is eyeing an upside break above $1,650 against the US Dollar. 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