{"id":177738,"date":"2023-10-20T10:50:42","date_gmt":"2023-10-20T05:20:42","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=177738"},"modified":"2023-10-20T10:50:42","modified_gmt":"2023-10-20T05:20:42","slug":"ethereum-price-defies-gravity-heres-what-could-spark-bullish-moves-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-price-defies-gravity-heres-what-could-spark-bullish-moves-crypto-news\/","title":{"rendered":"Ethereum Price Defies Gravity, Here\u2019s What Could Spark Bullish Moves &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Ethereum price managed to stay above the $1,520 support against the US dollar. ETH is rising and might rally if it clears the $1,605 resistance.<\/em><\/p>\n<ul>\n<li>Ethereum averted more losses below the $1,520 support zone.<\/li>\n<li>The price is trading above $1,560 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break above a major bearish trend line with resistance near $1,562 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is moving higher toward the breakout zone at $1,605.<\/li>\n<\/ul>\n<h2>Ethereum Price Starts Recovery<\/h2>\n<p>Ethereum managed to stay above the main breakdown support at $1,520. The recent rise in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/xrp\/xrp-price-prediction-0-55-2\/\">XRP<\/a> is sparking a recovery wave in the crypto market. ETH managed to start an increase above the $1,550 and $1,565 resistance levels, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-hesitates-30k\/\">Bitcoin<\/a>.<\/p>\n<p>There was a break above a major bearish trend line with resistance near $1,562 on the hourly chart of ETH\/USD. The pair climbed above the 23.6% Fib retracement level of the downward move from the $1,669 swing high to the $1,542 low.<\/p>\n<p>Ethereum is now trading above $1,565 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $1,600 level.<\/p>\n<p>The first major resistance is near the $1,605 zone or the 50% Fib retracement level of the downward move from the $1,669 swing high to the $1,542 low. The next key resistance is $1,620. A close above the $1,605 and $1,620 resistance levels might start a steady increase.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Ethereum-15.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>In the stated case, Ether could start a recovery wave toward the $1,665 resistance. Any more gains might open the doors for a move toward $1,750.<\/p>\n<h2>Another Decline in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,605 resistance, it could start another decline. Initial support on the downside is near the $1,575 level and the 100-hourly Simple Moving Average.<\/p>\n<p>The next key support is $1,540. The main support is still near $1,520. A downside break below the $1,520 support might send the price further lower. In the stated case, the price could drop toward the $1,440 level. Any more losses may perhaps send Ether toward the $1,350 level in the medium term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is 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 $1,575<\/p>\n<p>Major Resistance Level \u2013 $1,605<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price managed to stay above the $1,520 support against the US dollar. ETH is rising and might rally if it clears the $1,605 resistance. Ethereum averted more losses below the $1,520 support zone. The price is trading above $1,560 and the 100-hourly Simple Moving Average. There was a break above a major bearish trend [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":29345,"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-177738","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\/177738","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=177738"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177738\/revisions"}],"predecessor-version":[{"id":177739,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177738\/revisions\/177739"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/29345"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=177738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=177738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=177738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}