Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Ethereum price started a fresh surge above the $1,650 resistance. ETH is now showing positive signs and might attempt to clear the $1,800 resistance.
- Ethereum started a fresh rally above the $1,650 zone.
- The price is trading above $1,700 and the 100-hourly Simple Moving Average.
- There was a break above a couple of bullish continuation patterns with resistance at $1,700 and $1,760 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start a fresh increase if it clears the $1,800 resistance zone.
Ethereum Price Starts Fresh Rally
Ethereum price remained stable above the $1,550 level and started a fresh increase, like Bitcoin. ETH traded above the $1,620 and $1,650 levels. The bulls even pumped the price above the $1,700 level.
There was a break above a couple of bullish continuation patterns with resistance at $1,700 and $1,760 on the hourly chart of ETH/USD. The pair even tested the $1,800 zone. A high was formed at $1,803 and the price is showing signs of more gains above the 23.6% Fib retracement level of the upward move from the $1,566 swing low to the $1,803 high.
Ethereum price is now trading above $1,700 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $1,800 level. The next key resistance is near the $1,820 level.
The first major resistance is near the $1,850 level. A clear move above the $1,850 resistance might send the price toward the $1,920 resistance. An upside break above the $1,920 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $1,950 resistance zone or even $2,000 in the near term.
Are Dips Supported In ETH?
If Ethereum fails to clear the $1,800 resistance, it could start a fresh decline. Initial support on the downside is near the $1,765 level. The first major support sits near the $1,710 zone.
A clear move below the $1,710 support might push the price toward the $1,700 support. Any more losses might send the price toward the $1,685 support level and the 50% Fib retracement level of the upward move from the $1,566 swing low to the $1,803 high in the near term. The next key support sits at $1,620.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $1,710
Major Resistance Level – $1,800
Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.
From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.
In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.
Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.
Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.
At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.
In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
