{"id":150648,"date":"2023-09-06T11:05:11","date_gmt":"2023-09-06T05:35:11","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=150648"},"modified":"2023-09-06T11:05:11","modified_gmt":"2023-09-06T05:35:11","slug":"ethereum-price-shows-signs-of-life-but-lacks-momentum-above-1650-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-price-shows-signs-of-life-but-lacks-momentum-above-1650-crypto-news\/","title":{"rendered":"Ethereum Price Shows Signs of Life But Lacks Momentum Above $1,650 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Ethereum price is attempting a recovery wave above $1,620 against the US Dollar. ETH must settle above $1,650 to start a decent increase.<\/em><\/p>\n<ul>\n<li>Ethereum is slowly moving higher from the $1,600 support zone.<\/li>\n<li>The price is trading near $1,630 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break above two bearish trend lines with resistance near $1,620 and $1,630 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a steady increase if there is a close above the $1,650 resistance.<\/li>\n<\/ul>\n<h2>Ethereum Price Holds Key Support<\/h2>\n<p>Ethereum\u2019s price managed to stay above the $1,600 support zone. ETH price is forming a base and is currently attempting a recovery wave above $1,620, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-bulls-hold-strong-25500\/\">Bitcoin<\/a>.<\/p>\n<p>There was a break above two bearish trend lines with resistance near $1,620 and $1,630 on the hourly chart of ETH\/USD. The pair retested the 23.6% Fib retracement level of the main decline from the $1,750 swing high to the $1,600 low.<\/p>\n<p>Ether is now trading near $1,630 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-vulnerability-1600\/\">100-hourly Simple Moving Average<\/a>. On the upside, the price might face resistance near the $1,645 level. The next resistance is near the $1,660 level, above which the price could rise toward the $1,675 level.<\/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>The 50% Fib retracement level of the main decline from the $1,750 swing high to the $1,600 low is also near $1,675. The next major barrier is near the $1,700 level. A close above the $1,700 level might push Ethereum into a positive zone. The next resistance might be near $1,750. Any more gains might send the price toward the $1,800 resistance.<\/p>\n<h2>Another Decline in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,660 resistance, it could start another decline. Initial support on the downside is near the $1,620 level. The first key support is close to $1,600. A downside break below $1,600 might increase selling pressure.<\/p>\n<p>The next major support is near the $1,580 level. If there is a downside break below $1,580, the price could revisit the key $1,540 support level. Any more losses might send the price toward the $1,480 level or even $1,440.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is slowly gaining 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 $1,600<\/p>\n<p>Major Resistance Level \u2013 $1,660<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is attempting a recovery wave above $1,620 against the US Dollar. ETH must settle above $1,650 to start a decent increase. Ethereum is slowly moving higher from the $1,600 support zone. The price is trading near $1,630 and the 100-hourly Simple Moving Average. There was a break above two bearish trend lines with [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":150649,"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-150648","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\/150648","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=150648"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/150648\/revisions"}],"predecessor-version":[{"id":150650,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/150648\/revisions\/150650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/150649"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=150648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=150648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=150648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}