{"id":193778,"date":"2023-09-18T05:39:16","date_gmt":"2023-09-18T05:39:16","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=193778"},"modified":"2023-09-18T05:39:16","modified_gmt":"2023-09-18T05:39:16","slug":"ethereum-price-gains-are-slowing-but-not-likely-over-heres-why","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/ethereum-price-gains-are-slowing-but-not-likely-over-heres-why\/","title":{"rendered":"Ethereum Price Gains are Slowing but Not Likely Over \u2013 Here\u2019s Why"},"content":{"rendered":"<p><em>Ethereum price faced resistance near $1,650 against the US Dollar. ETH corrected gains but the $1,620 support might spark another upward movement.<\/em><\/p>\n<ul>\n<li>Ethereum is eyeing a key upside break above the $1,650 resistance.<\/li>\n<li>The price is trading above $1,625 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break above a connecting bearish trend line with resistance near $1,625 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could gain bullish momentum if there is a close above $1,650 and $1,670.<\/li>\n<\/ul>\n<h2>Ethereum Price Aims Higher<\/h2>\n<p>Ethereum\u2019s price was able to climb further above the $1,620 resistance. However, ETH struggled to gain strength for a move above the $1,650 resistance, like Bitcoin.<\/p>\n<p>There was a downside correction below the $1,630 level. The price even spiked below $1,620 but the downsides were limited. A low was formed near $1,613 and the price is now moving higher. There was a break above the $1,620 level and the 23.6% Fib retracement level of the recent decline from the $1,652 swing high to the $1,613 low.<\/p>\n<p>Besides, there was a break above a connecting bearish trend line with resistance near $1,625 on the hourly chart of ETH\/USD. Ether is now trading above $1,625 and the 100-hourly Simple Moving Average.<\/p>\n<p>On the upside, the price might face resistance near the $1,635 level or the 76.4% Fib retracement level of the recent decline from the $1,652 swing high to the $1,613 low at $1,642. The next resistance is near the $1,650 level. A close above the $1,650 resistance might send the price toward the $1,670 resistance.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Ethereum-11.png?resize=1024%2C468\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>If there is a close above $1,670, the price might start a strong increase. The next major hurdle is near the $1,750 level. A close above the $1,750 level might send Ethereum further higher toward $1,880.<\/p>\n<h2>Another Drop in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,650 resistance, it could start another decline. Initial support on the downside is near the $1,620 level.<\/p>\n<p>The first key support is close to $1,610. The next key support is $1,585. A downside break below $1,585 might start another bearish wave. In the stated case, the price could even decline toward the $1,520 level in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,610<\/p>\n<p>Major Resistance Level \u2013 $1,650<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-gains-not-over-1650\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price faced resistance near $1,650 against the US Dollar. ETH corrected gains but the&#8230;<\/p>\n","protected":false},"author":4,"featured_media":193777,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum Price Gains are Slowing but Not Likely Over \u2013 Here\u2019s Why - Tokens Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tokenstalk.info\/crypto\/ethereum-price-gains-are-slowing-but-not-likely-over-heres-why\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Price Gains are Slowing but Not Likely Over \u2013 Here\u2019s Why - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"Ethereum price faced resistance near $1,650 against the US Dollar. 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