• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis ETH

Ethereum Climbs above $1,600, Why ETH Could Soon Test $1,720

Aayush Jindal by Aayush Jindal
1 month ago
in ETH
Reading Time: 2min read
Ethereum
Advertisement

Ethereum started a strong increase above the $1,550 and $1,600 resistance levels against the US Dollar. ETH price is likely to continue higher towards the $1,700 and $1,720 resistance levels.

  • ETH price found support near $1,550 and recently started a fresh increase against the US Dollar.
  • The price is trading well above $1,600 and the 100 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $1,550 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair is likely to continue higher towards the $1,700 and $1,720 resistance levels.

Ethereum Turns Green

This past week, bitcoin and ethereum saw a downside correction below $48,000 and $1,550 respectively against the US Dollar. ETH even traded below the $1,500 support zone and settled well below the 100 simple moving average (4-hours).

It traded as low as $1,444 before correcting higher. The bulls were able to push the price convincingly above the $1,500 and $1,550 resistance levels. There was also a break above a connecting bearish trend line at $1,540 on the 4-hours chart of ETH/USD.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Ethereum

Source: ETHUSD on TradingView.com

Ether price climbed steadily and cleared the 76.4% Fib retracement level of the downward move from the $1,657 high to $1,444 low. It is now trading well above $1,600 and the 100 simple moving average (4-hours). There is also a major bullish trend line forming with support near $1,550 on the same chart.

On the upside, the first major resistance is near the $1,700 level. The 1.236 Fib extension level of the downward move from the $1,657 high to $1,444 low is also near $1,720. A successful break above $1,700 and $1,720 could open the doors for a move towards $1,800.

Dips Limited in Ether (ETH)?

If Ethereum fails to extend its rise above the $1,700, there could be a downside correction. An immediate support is near the $1,600 level. The next support is near the 100 hourly SMA at $1,575.

The main support is now forming near the trend line and $1,550. If ether price fails to stay above the trend line support, there is a risk of a larger decline in the coming sessions.

Technical Indicators

4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.

4 hours RSI – The RSI for ETH/USD is well above the 50 level.

Major Support Level – $1,550

Major Resistance Level – $1,700

Tags: ethereumethusdETHUSDT
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Ethereum

TA: Ethereum Sets New ATH, Here’s Why The Bulls Could Aim $2,500

18 hours ago
Ethereum

TA: Ethereum Consolidates Gains, Here’s What Could Spark A Fresh Rally

2 days ago
Ethereum

TA: Ethereum Dips Below $2K, Here’s What Could Trigger A Fresh Increase

7 days ago
Ethereum

TA: Ethereum Consolidates Above $2,050, Here’s Why Bulls Remain In Control

1 week ago
Ethereum

TA: Ethereum Sets New ATH, Here’s How ETH Could Rally Above $2.2k

1 week ago
Ethereum

TA: Ethereum Holds Strong Above $2K, Why Rally Isn’t Over Yet

1 week ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

Crypto Exchange Platform AAX Reveals HKD, SDG, and GBP as the Top Three Fiat Currencies Deposited In April

April 14, 2021

Polkadex IDO Launches On Polkastarter on the 16th of April

April 13, 2021

Fast-Growing Exchange Bityard to Launch Its First Contest for Global Traders

April 13, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.