• 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
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • 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
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Ethereum

TA: Ethereum Surges 15%, Why ETH Could Climb Above $1,700

Aayush Jindal by Aayush Jindal
6 months ago
in ETH
Reading Time: 2 mins read
Advertisement

Ethereum started a strong increase above the $1,600 level against the US Dollar. ETH is up over 15% and might even clear the $1,700 resistance zone.

  • Ethereum started a major increase above the $1,550 and $1,600 levels.
  • The price is now trading above $1,600 and the 100 hourly simple moving average.
  • There was a break above a key bearish trend line with resistance near $1,450 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could continue to rise if there is a clear move above the $1,675 level.

Ethereum Price Jumps Above $1,600

Ethereum formed a base above the $1,400 level and started a major increase. ETH was able to clear a few key hurdles near the $1,500 and $1,550 levels.

The price jumped over 15% and even surpassed the $1,600 level. There was a break above a key bearish trend line with resistance near $1,450 on the hourly chart of ETH/USD. The pair climbed sharply and surpassed the 76.4% Fib retracement level of the downward move from the $1,663 swing high to $1,357 low.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

It even broke the $1,650 level and now trading near the $1,660 zone. Ether price is now trading above $1,600 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,675 level. The first major resistance is near the $1,700 zone.

Ethereum Price

Source: ETHUSD on TradingView.com

The main resistance is now forming near the $1,735 zone. It is near the 1.236 Fib extension level of the downward move from the $1,663 swing high to $1,357 low. A clear move above the $1,735 level could push the price further higher. In the stated case, the price may perhaps rise towards the $1,800 resistance zone.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Dips Supported in ETH?

If ethereum fails to rise above the $1,675 resistance, it could start a downside correction. An initial support on the downside is near the $1,620 zone.

A clear move below the $1,620 support might spark a move towards the $1,580 level. Any more losses might even push the price to the $1,510 support or even the 100 hourly simple moving average in the near term.

Technical Indicators

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

Hourly RSI – The RSI for ETH/USD is now in the overbought zone.

Major Support Level – $1,620

Major Resistance Level – $1,675

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 Price

Ethereum Price Looks Ready For Another Leg Higher Over $1,700

20 hours ago
Ethereum Price

Ethereum Price Hits $1,700 and ETH Is Poised For More Upsides

2 days ago
Bitcoin and Ethereum

Bitcoin and Ethereum Whale Activities Plummet – Are Whales Getting Bored?

2 days ago
Ethereum (ETH)

Ethereum Price Could Take-off If It Clears This Key Resistance Zone

3 days ago
ethereum

Ethereum Reaches Critical Inflection Point Against Bitcoin: What Happens Next?

3 days ago
Ethereum Price

Ethereum Price Won’t Go Down Quietly: Key Supports To Watch

4 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

ApeCoin (APE), Dogecoin (DOGE), and Snowfall Protocol (SNW) – Three Great Coins for NFT Lovers

February 3, 2023

Turn Playtime into Paytime with RankerDAO’s Gaming Crypto Platform

February 3, 2023

Fetch.ai (FET) up 200% in 30 days – Orbeon Protocol (ORBN) Skyrockets by 1400% in Presale

February 3, 2023

Dacxi.com rebrands to Wealth99

February 2, 2023

What Is the Latest in Crypto? Terra Classic Community Approves Crucial Proposal to Resume Terra CLasic (LUNC) Burns, Fetch.Ai (FET) Ranks Among the Top AI Altcoins for Investors In 2023, Snowfall DEX Attracts More Investors to Snowfall Protocol (SNW) with A Week to Official Launch

February 2, 2023

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.

Links

Crypto Prices from Nomics

Cryptocurrency news

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

Technical Analysis

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

Company

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

© 2022 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
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 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.