| Name | Symbol | Market | Market Cap ($) | Algorithm |
|---|---|---|---|---|
| Ethereum | ETHUSD | Crypto | 222,263,567,035 | Not Mineable |
| Price Change | Price Change % | Current Price | Bid Price | Offer | |
|---|---|---|---|---|---|
| 17.49 | 0.95% | 1,850.02 | 1,849.84 | 1,849.95 |
| High Price | Low Price | Open Price | Prev. Close | 52 Week Range |
|---|---|---|---|---|
| 1,856.45 | 1,828.63 | 1,832.82 | 1,832.53 | 880.00 - 2,142.85 |
| Exchange | Last Trade | Size | Trade Price | Currency |
|---|---|---|---|---|
| GDAX | 15:23:48 | 0.001309 | 1,850.02 | USD |
Ethereum Price Revisits $1,700 And $1,800 Seems Imminent, Here’s Why
08/02/2023 4:15am
NEWSBTC
Ethereum started a fresh increase and retested $1,700 against the US Dollar. ETH is showing positive signs and might rise further towards the $1,800 zone. Ethereum gained pace and was able to clear the $1,660 resistance zone. The price is now trading above $1,660 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $1,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise further if there is a clear move above the $1,700 resistance. Ethereum Price Reverses Losses Ethereum price remained well bid above the $1,600 support, similar to bitcoin at $22,500. ETH formed a base above the $1,620 level and recently started a steady increase. There was a clear move above the $1,650 and $1,660 resistance levels. Besides, there was a break above a key bearish trend line with resistance near $1,640 on the hourly chart of ETH/USD. The pair even retested the $1,700 resistance and formed a high at $1,698 before there was a minor decline. Ether price is now trading above $1,660 and the 100 hourly simple moving average. It is trading near the 23.6% Fib retracement level of the upward move from the $1,624 swing low to $1,698 high. Source: ETHUSD on TradingView.com An immediate resistance is near the $1,690 level. The next major resistance is near the $1,700 level. An upside break above the $1,700 resistance zone could spark a fresh increase. In the stated case, the price may perhaps rise towards the $1,750 resistance. Any more gains might send ether price towards the $1,820 resistance zone. Dips Supported in ETH? If ethereum fails to clear the $1,700 resistance, it could start another downside correction. An initial support on the downside is near the $1,660 level. The next major support is near the $1,650 zone or the 61.8% Fib retracement level of the upward move from the $1,624 swing low to $1,698 high. If there is a break below $1,650, the price might accelerate lower towards the $1,620 support. Any more losses might call for a test of the $1,600 support zone. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,650 Major Resistance Level – $1,700
1 Year Ethereum Chart |
1 Month Ethereum Chart |