{"id":144404,"date":"2023-09-01T16:08:44","date_gmt":"2023-09-01T10:38:44","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=144404"},"modified":"2023-09-01T16:08:44","modified_gmt":"2023-09-01T10:38:44","slug":"ethereum-rally-loses-steam-why-eth-could-revisit-resistance-turned-support-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-rally-loses-steam-why-eth-could-revisit-resistance-turned-support-crypto-news\/","title":{"rendered":"Ethereum Rally Loses Steam, Why ETH Could Revisit Resistance Turned Support &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Ethereum price rallied above the $1,700 resistance against the US Dollar. ETH struggled near $1,750 and is currently correcting gains.<\/em><\/p>\n<ul>\n<li>Ethereum gained momentum above the $1,660 and $1,670 levels.<\/li>\n<li>The price is trading above $1,700 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break above a key bearish trend line with resistance near $1,650 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is now correcting gains from the $1,750 resistance.<\/li>\n<\/ul>\n<h2>Ethereum Price Rally Stalls<\/h2>\n<p>Ethereum\u2019s price was able to start a decent increase from the $1,620 zone. ETH formed a base and started a steady increase above the $1,650 resistance, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-correction-28000\/\">Bitcoin<\/a>.<\/p>\n<p>There was a break above a key bearish trend line with resistance near $1,650 on the hourly chart of ETH\/USD. The pair climbed higher above the $1,670 and $1,700 resistance levels. However, the bears were active near the $1,750 zone.<\/p>\n<p>A high is formed near $1,747 and the price is now correcting gains. There was a move below the $1,720 level. The price declined below the 23.6% Fib retracement level of the upward move from the $1,639 swing low to the $1,747 high.<\/p>\n<p>Ether is now trading above $1,700 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-bulls-fight-1660\/\">100-hourly Simple Moving Average<\/a>. On the upside, the price might face resistance near the $1,725 level. The next resistance is near the $1,750 level.<\/p>\n<\/p>\n<p>A close above the $1,750 level might send the price toward the $1,850 zone. If there is a clear move above $1,850, Ethereum could rise toward the $1,920 resistance. Any more gains might send the price toward the $2,000 resistance.<\/p>\n<h2>Are Dips Supported in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,750 resistance, it could continue to move down. Initial support on the downside is near the $1,700 level. The first key support is close to $1,680 or the 61.8% Fib retracement level of the upward move from the $1,639 swing low to the $1,747 high.<\/p>\n<p>The next major support is near the $1,660 level. If there is a downside break below $1,660, the price could accelerate lower toward the $1,620 level. Any more losses might send the price toward the $1,540 level in the near term.<\/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 above the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,680<\/p>\n<p>Major Resistance Level \u2013 $1,750<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price rallied above the $1,700 resistance against the US Dollar. ETH struggled near $1,750 and is currently correcting gains. Ethereum gained momentum above the $1,660 and $1,670 levels. The price is trading above $1,700 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $1,650 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":144405,"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-144404","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\/144404","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=144404"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/144404\/revisions"}],"predecessor-version":[{"id":144406,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/144404\/revisions\/144406"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/144405"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=144404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=144404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=144404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}