{"id":517551,"date":"2023-01-25T23:45:45","date_gmt":"2023-01-26T04:45:45","guid":{"rendered":"https:\/\/wncen.com\/?p=517551"},"modified":"2024-06-11T11:31:24","modified_gmt":"2024-06-11T11:31:24","slug":"ethereum-price-holds-ground-1600","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-holds-ground-1600\/","title":{"rendered":"Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet"},"content":{"rendered":"
Ethereum corrected lower sharply and tested $1,500 against the US Dollar. ETH started a fresh increase and is now trading above the $1,600 pivot level.<\/em><\/p>\n
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Ethereum is gaining pace above the $1,580 and $1,600 levels.<\/li>\n
The price is now trading above $1,600 and the 100 hourly simple moving average.<\/li>\n
There was a break above a major bearish trend line with resistance near $1,615 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could rise further if it stays above the $1,600 and $1,580 support levels.<\/li>\n<\/ul>\n
Ethereum Price Restarts Increase<\/h2>\n
Ethereum price started a sharp downside correction below the $1,600 level. ETH even declined below the $1,550 support zone and the 100 hourly simple moving average.<\/p>\n