{"id":151979,"date":"2023-09-08T09:51:19","date_gmt":"2023-09-08T04:21:19","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=151979"},"modified":"2023-09-08T09:51:19","modified_gmt":"2023-09-08T04:21:19","slug":"ethereum-price-is-showing-early-signs-of-fresh-rally-but-1670-is-the-key-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-price-is-showing-early-signs-of-fresh-rally-but-1670-is-the-key-crypto-news\/","title":{"rendered":"Ethereum Price is Showing Early Signs of Fresh Rally But $1,670 is the Key &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Ethereum price is eyeing an upside break above $1,650 against the US Dollar. ETH could gain bullish momentum if it clears $1,650 and $1,670 in the near term.<\/em><\/p>\n<ul>\n<li>Ethereum is slowly moving higher above the $1,620 support zone.<\/li>\n<li>The price is trading above $1,640 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bullish trend line forming with support near $1,625 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a decent increase if there is a close above the $1,650 and $1,670 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Eyes Upside Break<\/h2>\n<p>Ethereum\u2019s price remained stable above the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-could-see-lift-off-1650\/\">$1,620 support zone<\/a>. ETH formed a base and made another attempt to clear the $1,650 resistance, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-recovery-26000\/\">Bitcoin<\/a>.<\/p>\n<p>There was a spike above the $1,650 resistance zone but the bulls struggled near the next hurdle at $1,670. A high was formed near $1,669 before the price trimmed gains. It traded below the $1,650 level. The bears pushed it below the 50% Fib retracement level of the upward move from the $1,625 swing low to the $1,669 high.<\/p>\n<p>However, the bulls protected the $1,640 zone. It is close to the 61.8% Fib retracement level of the upward move from the $1,625 swing low to the $1,669 high.<\/p>\n<p>Ether is now trading above $1,640 and the 100-hourly Simple Moving Average. Besides, there is a key bullish trend line forming with support near $1,625 on the hourly chart of ETH\/USD. On the upside, the price might face resistance near the $1,650 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 next resistance is near the $1,670 level, above which the price could rise toward the $1,720 level. The next major hurdle is near the $1,750 level. A close above the $1,750 level might send Ethereum further higher. The next resistance might be near $1,820. Any more gains might send the price toward the $1,880 resistance.<\/p>\n<h2>Another Decline in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,670 resistance, it could start another decline. Initial support on the downside is near the $1,642 level.<\/p>\n<p>The first key support is close to $1,635 and the 100-hourly Simple Moving Average. The next key support is $1,625 and the trend line. A downside break below $1,625 might push it to $1,600. If there is a downside break below $1,600, the price could revisit the key $1,540 support level.<\/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 $1,625<\/p>\n<p>Major Resistance Level \u2013 $1,670<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is eyeing an upside break above $1,650 against the US Dollar. ETH could gain bullish momentum if it clears $1,650 and $1,670 in the near term. Ethereum is slowly moving higher above the $1,620 support zone. The price is trading above $1,640 and the 100-hourly Simple Moving Average. There is a key bullish [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":151980,"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-151979","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\/151979","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=151979"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151979\/revisions"}],"predecessor-version":[{"id":151981,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151979\/revisions\/151981"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/151980"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}