More

    Ethereum Stuck Below $1,760, Why ETH Could Surge To $1,880

    Ethereum gained momentum above $1,650 after bitcoin’s surge against the US Dollar. ETH price is still struggling near $1,760, but it is likely to break higher.
    Ethereum rallied above $1,650 and it traded to a new all-time high near $1,777.
    The price is now trading well above $1,650 and the 100 hourly simple moving average.
    There is a key ascending channel forming with support near $1,710 on the hourly chart of ETH/USD (data feed via Kraken).
    The pair could dip towards the $1,650 support, but it is likely to continue higher towards $1,800.
    Ethereum Price Is Eyeing Upside Break
    After clearing the $1,650 resistance, Ethereum started a fresh increase. ETH even cleared the $1,700 resistance, but it struggled to rise as much as bitcoin.
    During the increase, there was a break above a major bearish trend line with resistance near $1,660 on the hourly chart of ETH/USD. The pair gained pace above $1,710 and it even spiked above the $1,750 resistance zone.
    Ether traded to a new all-time high near $1,777 and it is currently consolidating gains. It is trading well above $1,650 and the 100 hourly simple moving average. An immediate support is near the 23.6% Fib retracement level of the recent rally from the $1,488 swing low to $1,777 high.

    Source: ETHUSD on TradingView.com
    There is also a key ascending channel forming with support near $1,710 on the same chart. If there is a downside break below the channel support, the price could decline towards the $1,650 support zone.
    On the upside, the price is clearly facing a major resistance near the $1,760 and $1,770 levels. A proper break above $1,770 might spark a rally. The next key resistance is near the $1,880 level.
    Dips Supported in ETH?
    If Ethereum fails to clear the $1,760 and $1,770 resistance levels, it could correct lower. On the downside, the first major support is near the $1,660 level.
    The next major support is near the $1,635 level and 100 hourly simple moving average. The 50% Fib retracement level of the recent rally from the $1,488 swing low to $1,777 high is also near the $1,635 level to provide support in the near term.
    Technical Indicators
    Hourly MACD – The MACD for ETH/USD is slowly losing momentum in the bullish zone.
    Hourly RSI – The RSI for ETH/USD is still well above the 50 level.
    Major Support Level – $1,650
    Major Resistance Level – $1,770

    Related articles

    Comments

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Share article

    Latest articles

    Newsletter

    Subscribe to stay updated.

    bitcoin
    Bitcoin (BTC) $ 64,136.00
    ethereum
    Ethereum (ETH) $ 2,373.66
    binance-coin
    Binance Coin (BNB) $ 565.31
    xrp
    XRP (XRP) $ 1.78
    cardano
    Cardano (ADA) $ 1.44
    tether
    Tether (USDT) $ 0.999832
    polkadot
    Polkadot (DOT) $ 42.14
    uniswap
    Uniswap (UNI) $ 34.85
    litecoin
    Litecoin (LTC) $ 267.25
    dogecoin
    Dogecoin (DOGE) $ 0.135549
    chainlink
    Chainlink (LINK) $ 36.92
    bitcoin-cash
    Bitcoin Cash (BCH) $ 797.73
    stellar
    Stellar (XLM) $ 0.620733
    theta-token
    Theta Network (THETA) $ 12.10
    filecoin
    Filecoin (FIL) $ 172.38
    usd-coin
    USD Coin (USDC) $ 0.997497
    vechain
    VeChain (VET) $ 0.163326
    tron
    TRON (TRX) $ 0.139410
    wrapped-bitcoin
    Wrapped Bitcoin (WBTC) $ 63,938.00
    eos
    EOS (EOS) $ 7.56
    klay-token
    Klaytn (KLAY) $ 2.69
    solana
    Solana (SOL) $ 25.97
    crypto-com-chain
    Crypto.com Coin (CRO) $ 0.246833
    terra-luna
    Terra (LUNA) $ 16.06
    compound-ether
    cETH (CETH) $ 47.46
    cosmos
    Cosmos (ATOM) $ 24.24
    monero
    Monero (XMR) $ 323.36
    iota
    IOTA (MIOTA) $ 2.07
    okb
    OKB (OKB) $ 21.12
    bitcoin-sv
    Bitcoin SV (BSV) $ 295.12
    bittorrent-2
    BitTorrent (BTT) $ 0.008083
    binance-usd
    Binance USD (BUSD) $ 0.996718
    aave
    Aave (AAVE) $ 400.05
    tezos
    Tezos (XTZ) $ 6.47
    ftx-token
    FTX Token (FTT) $ 56.42
    neo
    NEO (NEO) $ 66.96
    avalanche-2
    Avalanche (AVAX) $ 34.81
    kusama
    Kusama (KSM) $ 462.29
    compound-usd-coin
    cUSDC (CUSDC) $ 0.021833
    elrond-erd-2
    Elrond (EGLD) $ 231.39
    algorand
    Algorand (ALGO) $ 1.46
    nem
    NEM (XEM) $ 0.416231
    huobi-token
    Huobi Token (HT) $ 20.67
    pancakeswap-token
    PancakeSwap (CAKE) $ 23.75
    thorchain
    THORChain (RUNE) $ 15.07
    cdai
    cDAI (CDAI) $ 0.021299
    holotoken
    Holo (HOT) $ 0.018238
    dai
    Dai (DAI) $ 1.00
    hedera-hashgraph
    Hedera Hashgraph (HBAR) $ 0.380166
    dash
    Dash (DASH) $ 297.94