{"id":168637,"date":"2023-10-05T10:33:20","date_gmt":"2023-10-05T05:03:20","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=168637"},"modified":"2023-10-05T10:33:20","modified_gmt":"2023-10-05T05:03:20","slug":"ethereum-price-recovery-in-jeopardy-decoding-key-hurdles-to-fresh-increase-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-price-recovery-in-jeopardy-decoding-key-hurdles-to-fresh-increase-crypto-news\/","title":{"rendered":"Ethereum Price Recovery In Jeopardy? Decoding Key Hurdles To Fresh Increase &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Ethereum price is struggling to stay above the $1,620 support against the US dollar. ETH must clear the $1,665 hurdle to start a fresh increase.<\/em><\/p>\n<ul>\n<li>Ethereum trimmed all gains and now trading near the $1,630 level.<\/li>\n<li>The price is trading below $1,660 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance near $1,650 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a fresh increase if it clears the $1,650 and $1,665 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Holds Support<\/h2>\n<p>Ethereum managed to recover and stay above the $1,620 pivot level. Yesterday, we discussed a bearish reaction in ETH below the $1,650 level, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-restart-increase-28000\/\">Bitcoin<\/a>.<\/p>\n<p>A swing low was formed near $1,585 before the price recovered above $1,620. It is now consolidating above the 23.6% Fib retracement level of the downward move from the $1,742 swing high to the $1,585 low. It seems like the<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-breakout-1620\/\"> bears are active below the $1,650 level<\/a>.<\/p>\n<p>Ethereum is now trading below $1,660 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1,650 level. There is also a connecting bearish trend line forming with resistance near $1,650 on the hourly chart of ETH\/USD.<\/p>\n<p>The next major resistance is $1,665 and the 100-hourly Simple Moving Average. It is close to the 50% Fib retracement level of the downward move from the $1,742 swing high to the $1,585 low.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Ethereum-4.png?resize=1024%2C468\"><\/a><\/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>A clear move above the $1,665 resistance zone could start a decent increase. In the stated case, the price could visit the $1,700 resistance. The next key resistance might be $1,720. Any more gains might open the doors for a move toward $1,750.<\/p>\n<h2>Another Drop in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,665 resistance, it could start another decline. Initial support on the downside is near the $1,630 level. The next key support is $1,620.<\/p>\n<p>The first major support is now near $1,585. A downside break below the $1,585 support might start another strong bearish wave. In the stated case, the price could even visit the $1,540 level. In the stated case, there is a risk of a drop toward the $1,500 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish 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 $1,665<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is struggling to stay above the $1,620 support against the US dollar. ETH must clear the $1,665 hurdle to start a fresh increase. Ethereum trimmed all gains and now trading near the $1,630 level. The price is trading below $1,660 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":28314,"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-168637","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\/168637","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=168637"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/168637\/revisions"}],"predecessor-version":[{"id":168638,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/168637\/revisions\/168638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/28314"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=168637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=168637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=168637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}