{"id":142113,"date":"2023-09-01T20:16:14","date_gmt":"2023-09-01T14:46:14","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=142113"},"modified":"2023-09-01T20:16:14","modified_gmt":"2023-09-01T14:46:14","slug":"ethereum-whales-accumulate-can-price-start-recovery-now-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-whales-accumulate-can-price-start-recovery-now-crypto-news\/","title":{"rendered":"Ethereum Whales Accumulate \u2013 Can Price Start Recovery Now? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Ethereum price is struggling to rise above $1,700 against the US Dollar. ETH whales seem to accumulate, and the $1,620 support could be the key.<\/em><\/p>\n<ul>\n<li>Ethereum is struggling to rise above the $1,680 and $1,700 levels.<\/li>\n<li>The price is trading below $1,670 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance near $1,665 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a decent increase above the $1,670 and $1,700 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Holds Support<\/h2>\n<p>Ethereum\u2019s price started a short-term upside correction above the $1,650 level. ETH even climbed above the $1,670 level but the bears were active near the $1,700 zone, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-range-26000\/\">Bitcoin<\/a>.<\/p>\n<p>The price traded as high as $1,698 and is currently moving lower. There was a drop below the $1,670 level. The price even tested the 50% Fib retracement level of the upward move from the $1,580 swing low to the $1,698 high.<\/p>\n<p>Ether is now trading below $1,670 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-liftoff-1700\/\">100-hourly Simple Moving Average<\/a>. There is also a connecting bearish trend line forming with resistance near $1,665 on the hourly chart of ETH\/USD.<\/p>\n<\/p>\n<p>Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\">ETHUSD on TradingView.com<\/a><\/p>\n<p>On the upside, the price might face resistance near the $1,670 level and the trend line zone. The next resistance is near the $1,700 zone. To start a decent recovery wave, the price must settle above the $1,700 zone. The next major resistance is near the $1,780 level, above which the price could rise toward the $1,820 level. Any more gains might send the price toward the $1,920 resistance.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,700 resistance, it could continue to move down. Initial support on the downside is near the $1,640 level.<\/p>\n<p>The first major support is near the $1,620 zone or the 61.8% Fib retracement level of the upward move from the $1,580 swing low to the $1,698 high. The next key support is close to $1,600. If there is a downside break below $1,600, there could be more losses. The next major support is near the $1,520 support level. Any more losses might send the price toward the $1,440 level or even $1,320.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,620<\/p>\n<p>Major Resistance Level \u2013 $1,700<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is struggling to rise above $1,700 against the US Dollar. ETH whales seem to accumulate, and the $1,620 support could be the key. Ethereum is struggling to rise above the $1,680 and $1,700 levels. The price is trading below $1,670 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":142114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-142113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/142113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=142113"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/142113\/revisions"}],"predecessor-version":[{"id":142115,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/142113\/revisions\/142115"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/142114"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=142113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=142113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=142113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}