{"id":518253,"date":"2023-02-01T04:16:00","date_gmt":"2023-02-01T04:16:00","guid":{"rendered":"https:\/\/wncen.com\/?p=518253"},"modified":"2024-06-11T14:32:07","modified_gmt":"2024-06-11T14:32:07","slug":"ethereum-price-could-take-off-1600","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-could-take-off-1600\/","title":{"rendered":"Ethereum Price Could Take-off If It Clears This Key Resistance Zone"},"content":{"rendered":"
Ethereum is attempting a fresh increase above the $1,580 resistance against the US Dollar. ETH could gain bullish momentum if it clears the $1,610 resistance zone.<\/em><\/p>\n
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Ethereum is slowly moving higher from the $1,530 support zone.<\/li>\n
The price is now trading below $1,600 and the 100 hourly simple moving average.<\/li>\n
There is a key rising channel forming with support at $1,575 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could attempt a fresh increase if there is a clear move above the $1,610 resistance.<\/li>\n<\/ul>\n
Ethereum Price Faces Resistance<\/h2>\n
Ethereum price extended its decline below the $1,600 support zone. However, ETH bulls were active near the $1,550 level. A low was formed near $1,530 before the price started a decent increase, similar to bitcoin<\/a>.<\/p>\n