Ethereum Price Hits $1,700 and ETH Is Poised For More Upsides

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,250,392,114,437	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,250,392,114,437

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	484.06	0.77%	63,651.82	63,651.82	63,651.83

Price Change

Price Change %

Current Price

Bid Price

Offer

484.06

0.77%

63,651.82

63,651.83

High Price	Low Price	Open Price	Prev. Close	52 Week Range
63,968.29	62,956.77	63,228.48	63,166.48	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

63,968.29

62,956.77

63,228.48

63,166.48

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	03:50:02	0.000086	63,651.82	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

03:50:02

0.000086

63,651.82

USD

Price x Volume	Volume	Base Symbol	Related Pairs
110,149,754.64	1,733.85	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

110,149,754.64

1,733.85

Ethereum Price Hits $1,700 and ETH Is Poised For More Upsides

02/02/2023 5:21am

NEWSBTC

Ethereum is up over 5% and trading above $1,650 against the US Dollar. ETH could rise further if it clears the $1,700 resistance zone. Ethereum gained pace and rallied above the $1,660 resistance zone. The price is now trading above $1,650 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,580 on the hourly chart of ETH/USD (data feed via Kraken). The pair could more upsides if it clears the $1,700 resistance zone. Ethereum Price Gains Bullish Momentum Ethereum price found a strong support near the $1,550 zone. A base was formed and ETH price started a fresh increase above the $1,600 resistance zone, similar to bitcoin. There was a clear move above the $1,620 and $1,650 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $1,580 on the hourly chart of ETH/USD. A high is formed near $1,697 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the recent rally from the $1,558 swing low to $1,697 high. Ether price is now trading above $1,650 and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com An immediate resistance is near the $1,700 level. The next major resistance is near the $1,720 level. An upside break above the $1,720 resistance zone could spark anther steady increase. In the stated case, the price may perhaps rise towards the $1,800 resistance. Any more gains might send ether price towards the $1,880 resistance zone. Dips Supported in ETH? If ethereum fails to clear the $1,700 resistance, it could start a downside correction. An initial support on the downside is near the $1,665 level and the previous swing zone. The next major support is near the $1,620 zone or the 50% Fib retracement level of the recent rally from the $1,558 swing low to $1,697 high. If there is a break below $1,620, the price might drop towards the $1,590 support. Any more losses might call for a test of the $1,550 zone or the last swing low in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,620 Major Resistance Level – $1,700

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