Ethereum prices have risen above the resistance level of $1650 against the US dollar.ETH prices are currently trading above $1600 and 55 simple moving averages (4 hours)
- Ethereum prices have risen above the resistance level of $1650 against the US dollar.
- ETH prices are currently trading above $1600 and 55 simple moving averages (4 hours).
- On the 4-hour chart (data from Coinbase), a key contraction triangle is forming, with support around $1660.
- If it remains above the support range of $1600, the currency pair may further climb.
Ethereum prices have stabilized above $1660 against the US dollar. If the resistance zone of $1750 is cleared, ETH/USD may further rise.
Ethereum Price Analysis
In the past few days, the exchange rate of Ethereum against the US dollar has significantly increased to over $1620. ETH prices can accelerate the pace, breaking through $1650 and 55 simple moving averages (4 hours).
Bulls even pushed prices above the resistance level of $1700. However, bears were active around $1740 and $1750. A high point was formed near $1742, and prices showed a downward correction. The price fell below the levels of $1700 and $1680.
There was a decline below the 23.6% Fibonacci retracement level, which swung from a low of $1462 to a high of $1742. The current price is trading above $1630 and 55 simple moving averages (4 hours).
There is also a key contraction triangle formed on the 4-hour chart, with a support level around $1660. The direct resistance level for the upward trend is around $1720. The next major resistance level is around the $1740 area and near the recent high point of volatility.
Clearly exceeding $1740 may push the price towards $1820. Any further gains may even push prices towards the resistance zone of $1950 or $2000 in the short term.
On the downside, the initial support level is around $1660 and the triangular trend line. The next major support is the 50% Fibonacci retracement level, which is now close to the $1600 level or moving up from a swinging low of $1462 to a high of $1742.
Falling below the support level of $1600 may push the price up to $1530. In the coming days, any further losses may lead to prices rising to $1440 or even $1400.
Ethereum Price
Ethereum Price 1,630 55 4 1,600
Technical indicators
The 4-hour MACD ETH/USD MACD is now gaining momentum in bullish areas.
4-hour RSI (Relative strength index) - The RSI of ETH/USD is now higher than 50.
Key support level - $1660, followed by the $1600 area.
Key resistance levels - $1720 and $1740.
If you want to warm up in a group or have any doubts, please join us and follow the public: Crypto Higo
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
