{"id":157801,"date":"2023-09-18T12:32:46","date_gmt":"2023-09-18T07:02:46","guid":{"rendered":"https:\/\/dripp.zone\/news\/eth-price-renews-uptrend-above-1630-rally-to-2k-next-crypto-news\/"},"modified":"2023-09-18T12:32:48","modified_gmt":"2023-09-18T07:02:48","slug":"eth-price-renews-uptrend-above-1630-rally-to-2k-next-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/eth-price-renews-uptrend-above-1630-rally-to-2k-next-crypto-news\/","title":{"rendered":"ETH Price Renews Uptrend Above $1,630, Rally To $2k Next? – Crypto News"},"content":{"rendered":"

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ETH price is ushering in the new week with noticeable gains after bulls successfully battled calls for a sell-off due to the rising inflation in the United States. After briefly succumbing to selling pressure over the weekend, the most significant smart contracts token bounced off support at $1,600 and is now trading at $1,630 as bulls capitalize on the improving market sentiment.<\/p>\n

ETH Price Bulls Back In Action<\/h2>\n

Despite the negative pressure in the market since June when the Securities and Exchange Commission (SEC) sued Binance and Coinbase while implicating various cryptocurrencies including Cardano (ADA), Solana (SOL) and Polygon (MATIC), ETH price has sustained support above $1,530.<\/p>\n

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If the higher support area from $1,600 to $1,630 holds, Ethereum may settle for consolidation<\/a> with the upper limit at $1,700 before the next breakout targeting highs above $2,000.<\/p>\n

Based on the Moving Average Convergence Divergence (MACD) indicator, sideways trading might take precedence until ETH price weakens the immediate resistance at $1,632 \u2013 highlighted by the 100-day Exponential Moving Average (EMA) (blue).<\/p>\n

The 50-day EMA (red) at $1,623 serves as the immediate support, and therefore it is a relief to the major buyer congestion areas at $1,600 and $1,530, respectively.<\/p>\n

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Traders should look for a buy signal likely to emanate from the momentum indicator. New or additional buy orders may be placed above the 100-day EMA and only after the blue MACD line crosses the red signal line on the four-hour chart.<\/p>\n