| Name | Symbol | Market | Market Cap ($) | Algorithm |
|---|---|---|---|---|
| Bitcoin | BTCUSD | Crypto | 516,159,147,448 | SHA-256d |
| Price Change | Price Change % | Current Price | Bid Price | Offer | |
|---|---|---|---|---|---|
| 255.11 | 0.97% | 26,607.14 | 26,605.53 | 26,607.15 |
| High Price | Low Price | Open Price | Prev. Close | 52 Week Range |
|---|---|---|---|---|
| 26,693.11 | 26,212.63 | 26,351.36 | 26,352.03 | 15,500.00 - 31,306.32 |
| Exchange | Last Trade | Size | Trade Price | Currency |
|---|---|---|---|---|
| GDAX | 16:26:08 | 0.020000 | 26,606.62 | USD |
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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