{"id":183270,"date":"2023-10-29T20:15:28","date_gmt":"2023-10-29T14:45:28","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=183270"},"modified":"2023-10-29T20:15:28","modified_gmt":"2023-10-29T14:45:28","slug":"eth-holds-above-1700-what-should-you-expect-next-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/eth-holds-above-1700-what-should-you-expect-next-crypto-news\/","title":{"rendered":"ETH holds above $1700: What should you expect next? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i><span style=\"font-weight: 400\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/span><\/i><\/p>\n<ul>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">The FOMC meeting on 31 October\/1 November could induce volatility.<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">A cluster liquidity existed between $1700-$1750 alongside critical open liquidity at $1813.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The US Federal Open Market Committee (FOMC) meetings are associated with significant price volatility in the crypto market. In the past three days, the market entered a range ahead of the next meeting on 1 November.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Read <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/ethereum-price-prediction\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Ethereum\u2019s [ETH] Price Prediction 2023-24<\/span><\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\"> In particular, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/ETH\" data-wpel-link=\"internal\">Ethereum [ETH]<\/a> consolidated recent gains above $1700.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">A previous ETH price <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/ethereum-crosses-1800-as-bulls-extend-control\/\" data-wpel-link=\"internal\">analysis<\/a> leaned towards extra gains above $1800. Although ETH experienced a slight price bounce, it faced price rejection at the previous mid-range, near $1850.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Here are the key levels to consider ahead of the Fed decision.\u00a0<\/span><\/p>\n<h4>Will ETH stay above $1700?<\/h4>\n<div id=\"attachment_354614\" style=\"width: 1960px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETHUSDT_2023-10-29_09-04-39.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-354614\" class=\"size-full wp-image-354614\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETHUSDT_2023-10-29_09-04-39.png\" alt=\"ETH\" width=\"1950\" height=\"1109\" \/><\/a><\/p>\n<p id=\"caption-attachment-354614\" class=\"wp-caption-text\">Source: ETH\/USDT on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">Liquidity on the 4-hour chart existed between $1713 \u2013 $1758 (orange). It meant the area was crucial to traders as an entry or exit point for trade set-ups.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">On the zoomed-out 4-hour chart, the recent price upswing faltered at the mid-range of $1851, the previous range formation seen in July\/August. So, the crucial levels to watch out for ahead of the Fed\u2019s decision were the $1713 \u2013 $1758 (orange) and the previous range formation levels.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Notably, over<\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\" data-wpel-link=\"external\"><span style=\"font-weight: 400\"> 99%<\/span><\/a><span style=\"font-weight: 400\"> of interest rate traders expected unchanged Fed rates, so a rebound at the liquidity area above $1700 could be feasible. But bulls must consider the overhead hurdles at range-low ($1816), mid-range ($1851), and range-high ($1887).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Alternatively, an extreme bearish sentiment if the Fed decision turned hawkish (hikes rate), then ETH sellers could drag the altcoin below $1700. The breaker block at $1640 (cyan) will be the next support in such a downswing scenario.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The CMF and RSI were at equilibrium levels, meaning capital inflows and buying pressure were average, and prices could take any direction.\u00a0<\/span><\/p>\n<h4>Significant open liquidity at $1813<\/h4>\n<div id=\"attachment_354615\" style=\"width: 1236px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETH-open-liquidity.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-354615\" class=\"size-full wp-image-354615\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"ETH\" width=\"1226\" height=\"628\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETH-open-liquidity.png 1226w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETH-open-liquidity-300x154.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETH-open-liquidity-1024x525.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETH-open-liquidity-768x393.png 768w\" data-lazy-sizes=\"(max-width: 1226px) 100vw, 1226px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETH-open-liquidity.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-354615\" class=\"size-full wp-image-354615\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETH-open-liquidity.png\" alt=\"ETH\" width=\"1226\" height=\"628\" \/><\/a><\/p>\n<p id=\"caption-attachment-354615\" class=\"wp-caption-text\">Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/hyblockcapital.com\/liquidationlevel\" data-wpel-link=\"external\">Hyblock<\/a><\/p>\n<\/div>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">How much are <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-eth-to-usd\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">1,10,100 ETHs worth today<\/span><\/a><span style=\"font-weight: 400\">?\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">Data from Hyblock showed open liquidity from leveraged traders (blue lines on the Liq profile) was on the higher side. One crucial liquidity level was $1813, worth over $108 million in short liquidations, if the price hit the level. Others were at $1827 and $1844.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The crucial one of $1813 was close to the range-low of $1815 and meant that the short-term rebound could derail at the range-low. But a dovish Fed stance on 1 November could tip ETH to reclaim the range-low and aim for upper resistances.\u00a0<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. The FOMC meeting on 31 October\/1 November could induce volatility. A cluster liquidity existed between $1700-$1750 alongside critical open liquidity at $1813.\u00a0 The US Federal Open Market Committee (FOMC) meetings are associated with significant [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":183271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-183270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183270","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=183270"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183270\/revisions"}],"predecessor-version":[{"id":183273,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183270\/revisions\/183273"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/183271"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=183270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=183270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=183270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}