Ethereum Price Corrects But This Level Could Trigger Fresh Increase

2022-10-28 11:30

Ethereum started a downside correction from $1,600 against the US Dollar. ETH could start a fresh increase if it stays above the $1,450 support.

Ethereum is correcting gains from the $1,580 and $1,600 resistance levels. The price is now trading above $1,450 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,540 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $1,450 support zone. Ethereum Price Remains Supported

Ethereum started a decent increase above the $1,450 and $1,500 resistance levels. ETH even cleared the $1,550 level and settled above the 100 hourly simple moving average.

The price traded close to the $1,600 resistance zone. A high was formed near $1,593 before there was a downside correction. There was a drop below the $1,550 level. Ether price even declined below the 23.6% Fib retracement level of the upward wave from the $1,340 swing low to $1,593 high.

It is now trading above $1,450 and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $1,540 on the hourly chart of ETH/USD.

An immediate resistance on the upside is near the $1,540 level and the trend line zone. The first major resistance is near the $1,550 and $1,560 levels, above which the price could gain bullish momentum. The main barrier is now near the $1,600 zone.

Source: ETHUSD on TradingView.com

A clear upside break above the $1,600 resistance zone could set the pace for a fresh rally. In the stated case, the price might rise towards the $1,720 level.

Dips Supported in ETH?

If ethereum fails to climb above the $1,550 resistance, it could continue to move down. An initial support on the downside is near the $1,465 level and the 100 hourly simple moving average.

The 50% Fib retracement level of the upward wave from the $1,340 swing low to $1,593 high is also near $1,450. A downside break below the $1,450 zone might increase selling pressure and the price might drop to $1,400 in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 level.

Major Support Level – $1,450

Major Resistance Level – $1,550

origin »

Bitcoin price in Telegram @btc_price_every_hour

Ethereum (ETH) на Currencies.ru

$ 1872.6 (-0.11%)
Объем 24H $7.942b
Изменеия 24h: -2.64 %, 7d: 0.45 %
Cегодня L: $1869.42 - H: $1879.46
Капитализация $225.99b Rank 2
Цена в час новости $ 1503.2 (24.57%)

ethereum fresh increase could support stays above

Источник: newsbtc.com

ethereum fresh → Результатов: 126


Фото:

Why Surging Options Volume Can Put an End to Ethereum’s Epic Rally

Ethereum posted an intense breakout rally yesterday that allowed it to set fresh local highs This rally came about rather suddenly, with it coming about prior to any movement seen by Bitcoin or the aggregated crypto market Analysts are now noting that this uptrend may start to falter in the days ahead, as it is currently repeating a pattern that is strikingly similar to that seen in months past This potential weakness comes as Ethereum’s […]

2020-6-1 22:00


Фото:

Ethereum’s Rocketing Funding Rates a Grave Sign for Its Ongoing Rally

Ethereum has been severely underperforming Bitcoin in recent times, but this appears to be shifting as the cryptocurrency posts a breakout rally while BTC declines This uptrend has come about as long positions for the cryptocurrency rocket higher, reaching a fresh all-time high this week In tandem with this, ETH’s funding rate has also grown massively – which is typically a grave sign that a torrent of liquidations is imminent Ethereum has been able to […]

2020-5-30 23:00


Фото:

Here’s why Ethereum’s “hodlers” could ultimately fuel an explosive uptrend

Ethereum has seen notable volatility in recent times, primarily stemming from that seen by Bitcoin and many of its other peers. This has allowed the ETH to rally to fresh post-February highs of $230 overnight, although its push up to this level proved to be highly unsustainable and resulted in it declining back into the […] The post Here’s why Ethereum’s “hodlers” could ultimately fuel an explosive uptrend appeared first on CryptoSlate.

2020-5-1 10:00


Ethereum Has Yet to Post a Strong Bottom; Are Fresh Lows Imminent?

Ethereum (ETH) has been moving in tandem with Bitcoin as of late, with BTC’s bullishness allowing the cryptocurrency to put significant distance between its 2020 lows and its current price levels. It is important to note that although ETH appears to have gained a solid foothold within the $170 region, the cryptocurrency has been struggling... The post appeared first on NewsBTC.

2020-1-31 02:00


A Visit to This Level Could Send Ethereum on a Face Ripping Rally

Ethereum (ETH) has found itself caught within a firm upwards trend over the past month, which has come about in tandem with the uptrend seen by the aggregated crypto markets throughout 2020. This momentum reached a boiling point yesterday evening when Bitcoin rallied to fresh 2020 highs of $9,500 before finding some resistance, which in... The post appeared first on NewsBTC.

2020-1-30 02:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Smart Money Might Be Repeating This Playbook — ETH Soared 173% Last Time

After a fairly good performance in April, the Ethereum price has reversed almost all its recent gains over the past month. As it crumbled under the weight of the bears heading into the weekend, the altcoin eventually found a cushion of support just above $2,000 in the early hours of Saturday. However, the Ethereum token seems […]

Ethereum Cools Off Below $2,450 – Lower Leverage Sets The Stage For A Breakout

Ethereum is testing resistance as the market heats up and buyers attempt to force a decisive break above the level that has capped the recovery for nearly a month. The price action is building toward a resolution — and top analyst Darkfost has examined the derivatives data behind the current setup in a way that adds structural context to both the consolidation and what it might take to end it.

Ethereum Leverage Ratio Sees Sharp Drop: What It Means

Data shows the Estimated Leverage Ratio has seen a sharp decline for Ethereum on Binance, a sign that traders have been pulling back on risk. Ethereum Leverage Ratio Has Dropped To A Value Of 0.57 As pointed out by an analyst in a CryptoQuant Quicktake post, speculative activity in the Binance Ethereum derivatives market has […]

Ethereum Is Finally Rewarding Risk Again – But the Direction Has Changed

Ethereum is pushing against the $2,400 level but has not been able to close above it, caught in a market that is heating up around it, while the price action remains tentative. The broader environment is increasingly constructive, but ETH is still navigating the lingering effects of the correction that defined the first quarter of […]