• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Ethereum
Nexo Logo

TA: Ethereum Eyes Fresh Rally If It Clears This Key Breakout Zone

Aayush Jindal by Aayush Jindal
1 week ago
in ETH
Reading Time: 2 mins read
Advertisement

Ethereum remained supported above the $1,550 zone against the US Dollar. ETH is rising and might gain pace if there is a clear move above the $1,670 level.

  • Ethereum found support near $1,560 and started a fresh increase.
  • The price is now trading above $1,620 and the 100 hourly simple moving average.
  • There is a major bearish trend line forming with resistance near $1,660 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a fresh rally if there is a clear move above $1,660 and $1,670.

Ethereum Price Remains Supported

Ethereum extended its decline below the $1,650 level. ETH even traded below the $1,600 support zone to move into a short-term bearish zone.

However, the bulls were active near the $1,550 and $1,560 levels. The price remained stable above the 50% Fib retracement level of the upward move from the $1,354 swing low to $1,785 high. Ether price is now rising and trading above the $1,600 level.

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

There was a break above the 23.6% Fib retracement level of the downward move from the $1,785 high to $1,559 low. It is now trading above $1,620 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,650 level.

Ethereum Price

Source: ETHUSD on TradingView.com

There is also a major bearish trend line forming with resistance near $1,660 on the hourly chart of ETH/USD. The first major resistance is near the $1,670 level. It is near the 50% Fib retracement level of the downward move from the $1,785 high to $1,559 low. A clear move above the $1,670 level could start a steady increase to $1,700. If the bulls remain in action, the price may perhaps rise towards the $1,750 resistance zone.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Fresh Decline in ETH?

If ethereum fails to rise above the $1,670 resistance, it could start another decline. An initial support on the downside is near the $1,620 zone.

The next major support is near $1,560, below which there is a risk of a sharp decline. In the stated case, ether price may perhaps decline towards the $1,505 support in the near term. Any more losses might call for a test of the $1,450 level.

Technical Indicators

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

Hourly MACD – The MACD for ETH/USD is now losing momentum in the bullish zone.

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

Major Support Level – $1,570

Major Resistance Level – $1,670

Tags: ETHethereumethusdETHUSDT
Tweet123Share196ShareSend
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 Gearing For Another Lift-Off to $2k: Rally Isn’t Over Yet

6 hours ago
Ethereum

TA: Ethereum Climbs To $1,900, Why $2K Could Be Next

1 day ago
TA- Ethereum Price struggles To Breakout – Eyes $2,000

TA- Ethereum Price struggles To Breakout – Eyes $2,000

4 days ago
Ethereum

TA: Ethereum Eyes Fresh Surge As It Holds Key Uptrend Support

1 week ago
Ethereum

TA: Ethereum Consolidates Below $1,650: What Could Trigger A Sharp Decline?

1 week ago
Ethereum

TA: Ethereum Breaks Down, Why ETH Could Revisit $1,500

1 week ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

WEB5 Inu ($WEB5) launches the next-generation Decentralized Finance (DeFi) cryptocurrency

August 12, 2022

GNOX (GNOX) Presale Sell-out Causing Dogecoin (DOGE) And Fantom (FTM) Holders To Flock In For Launch

August 12, 2022

Biggest Profits Likely From Uniglo (GLO), Near Protocol (NEAR) And Fantom (FTM)

August 12, 2022

Nexus Dubai (NXD) Project Obtains First Cryptocurrency Exchange License in Dubai

August 12, 2022

AscendEX Lists Lovely Inu (LOVELY), a DeFi Meme Platform

August 12, 2022

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

Crypto Prices from Nomics

Cryptocurrency news

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

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 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.