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Ethereum -Price started a new increase over the $ 1,650 resistance. ETH now shows positive drawing and can try to erase the $ 1,800 resistance.
- Ethereum started a new meeting above $ 1,650 zone.
- The price is traded above $ 1,700 and the 100-hour simple advancing average.
- There was a break above a few bullish continuation patterns with resistance of $ 1,700 and $ 1,760 on the hour table of ETH/USD (data feed via Kraken).
- The couple can start a new increase if it knew the $ 1,800 resistance zone.
Ethereum -Prize starts new rally
Ethereum -Price remained stable above the level of $ 1,550 and started a new increase, such as Bitcoin. ETH traded above the level of $ 1,620 and $ 1,650. The bulls even pumped the price above the $ 1,700 level.
There was a break above a few bullish continuation patterns with resistance of $ 1,700 and $ 1,760 on the ETH/USD card per hour. The pair even tested the $ 1,800 zone. A high was formed at $ 1,803 and the price shows signs of more profit above the 23.6% FIB racement level of the upward movement of the $ 1,566 swing low to $ 1803 high.
Ethereum price is now traded above $ 1,700 and the 100-hour simple advancing average. At the top the price seems to have to do with obstacles near the level of $ 1,800. The next key resistance is near the level of $ 1,820.
The first major resistance is near the $ 1,850 level. A clear movement above the $ 1,850 resistance can send the price to the $ 1,920 resistance. An upward break above the $ 1,920 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 1,950 resistance zone or even $ 2,000 in the short term.
Are dips supported in ETH?
If Ethereum did not know the resistance of $ 1,800, this can start a new decline. The first support at the disadvantage is near the level of $ 1,765. The first major support is near the $ 1,710 zone.
A clear movement under the support of $ 1,710 can push the price to $ 1,700 support. All losses can send the price to the support level of $ 1,685 and the 50% FIB retracement level of the upward movement of the $ 1,566 swing low to the $ 1,803 high in the nearby term. The following key support is at $ 1,620.
Technical indicators
Hour MacD – The MACD for ETH/USD is gaining strength in the bearish zone.
Hour RSI – The RSI for ETH/USD is now above 50 zone.
Large support level – $ 1,710
Large resistance level – $ 1,800