{"id":194200,"date":"2023-09-27T07:40:11","date_gmt":"2023-09-27T07:40:11","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=194200"},"modified":"2023-09-27T07:40:11","modified_gmt":"2023-09-27T07:40:11","slug":"ethereum-price-stages-recovery-but-can-it-overcome-this-key-hurdle","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/ethereum-price-stages-recovery-but-can-it-overcome-this-key-hurdle\/","title":{"rendered":"Ethereum Price Stages Recovery But Can It Overcome This Key Hurdle?"},"content":{"rendered":"<p><em>Ethereum price is eyeing a recovery wave from $1,565 against the US Dollar. ETH could rise steadily if it settles above $1,600 and $1,620.<\/em><\/p>\n<ul>\n<li>Ethereum is attempting a recovery wave above the $1,580 level.<\/li>\n<li>The price is trading above $1,590 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break above a major bearish trend line with resistance near $1,590 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a recovery wave if there is a close above $1,600 and $1,620.<\/li>\n<\/ul>\n<h2>Ethereum Price Signals Recovery<\/h2>\n<p>Ethereum\u2019s price remained well-bid above the $1,565 level. ETH seems to be forming a base above $1,565 and is slowly moving higher, like Bitcoin.<\/p>\n<p>The price was able to recover above the $1,580 and $1,590 levels. There was a move above the 23.6% Fib retracement level of the downward move from the $1,669 swing high to the $1,565 low. Besides, there was a break above a major bearish trend line with resistance near $1,590 on the hourly chart of ETH\/USD.<\/p>\n<p>Ethereum is now trading above $1,590 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1,600 level.<\/p>\n<p>The next major resistance is $1,620. It is close to the 50% Fib retracement level of the downward move from the $1,669 swing high to the $1,565 low. A push above $1,620 might send Ether further higher and there are chances of a steady increase.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Ethereum-18.png?resize=1024%2C468\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>The next major resistance is near $1,650 and $1,660. If the bulls succeed in clearing the $1,660 hurdle, the price could start a decent increase toward the $1,720 resistance. Any more gains might open the doors for a move toward $1,800.<\/p>\n<h2>Another Drop in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,620 resistance, it could start another decline. Initial support on the downside is near the $1,580 level.<\/p>\n<p>The next key support is $1,565, below which the price could test the $1,540 support. If the bulls fail to protect the $1,540 support, there could be a sharp decline. In the stated case, there could be a drop toward the $1,440 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish 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 $1,565<\/p>\n<p>Major Resistance Level \u2013 $1,620<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-recovery-1620\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is eyeing a recovery wave from $1,565 against the US Dollar. ETH could&#8230;<\/p>\n","protected":false},"author":4,"featured_media":194199,"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 Stages Recovery But Can It Overcome This Key Hurdle? - 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-stages-recovery-but-can-it-overcome-this-key-hurdle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Price Stages Recovery But Can It Overcome This Key Hurdle? - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"Ethereum price is eyeing a recovery wave from $1,565 against the US Dollar. 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