Ethereum Price Holds Key Support and Eyes Fresh Move To $1,700

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	387,271,918,728	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

387,271,918,728

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	19.52	0.61%	3,221.58	3,221.61	3,221.67

Price Change

Price Change %

Current Price

Bid Price

Offer

19.52

0.61%

3,221.58

3,221.61

3,221.67

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,266.40	3,153.41	3,197.99	3,202.06	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,266.40

3,153.41

3,197.99

3,202.06

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	20:25:41	0.006000	3,221.70	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

20:25:41

0.006000

3,221.70

USD

Price x Volume	Volume	Base Symbol	Related Pairs
219,719,884.29	68,353.31	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

219,719,884.29

68,353.31

Ethereum Price Holds Key Support and Eyes Fresh Move To $1,700

06/02/2023 5:01am

NEWSBTC

Ethereum corrected lower and traded below $1,640 against the US Dollar. ETH is holding the $1,610 support and might aim a fresh increase. Ethereum started a downside correction below $1,650 and $1,640. The price is now trading below $1,650 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,615 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another increase if it stays above the $1,600 support zone. Ethereum Price Remains Supported Ethereum price failed to clear the $1,720 resistance zone and corrected lower, similar to bitcoin. ETH declined below the $1,650 and $1,640 support levels. There was also a spike below the 50% Fib retracement level of the upward move from the $1,530 swing low to $1,715 high. Ether price is now trading below $1,650 and the 100 hourly simple moving average. It seems to be holding a major support near the $1,610 level. There is also a key bullish trend line forming with support near $1,615 on the hourly chart of ETH/USD. An immediate resistance is near the $1,640 level and the 100 hourly simple moving average. The next major resistance is near the $1,660 level. An upside break above the $1,660 resistance zone could spark a fresh increase. Source: ETHUSD on TradingView.com In the stated case, the price may perhaps rise towards the $1,700 resistance. Any more gains might send ether price towards the $1,780 resistance zone. More Losses in ETH? If ethereum fails to clear the $1,650 resistance, it could continue to move down. An initial support on the downside is near the $1,610 level and the trend line. The next major support is near the $1,600 zone or the 61.8% Fib retracement level of the upward move from the $1,530 swing low to $1,715 high. If there is a break below $1,600, the price might drop towards the $1,565 support. Any more losses might call for a test of the $1,530 support. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,600 Major Resistance Level – $1,660

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