Ethereum Price Could Take-off If It Clears This Key Resistance Zone

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	10,586,907,662	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

10,586,907,662

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.003019	2.57%	0.120268	0.12027	0.120276

Price Change

Price Change %

Current Price

Bid Price

Offer

0.003019

2.57%

0.120268

0.12027

0.120276

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.120268	0.116533	0.117249	0.117249	0.064006 - 0.144371

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.120268

0.116533

0.117249

0.064006 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	20:23:24	183.00	0.120268	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

20:23:24

183.00

0.120268

USD

Price x Volume	Volume	Base Symbol	Related Pairs
420,801.72	3,563,486.69	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

420,801.72

3,563,486.69

Ethereum Price Could Take-off If It Clears This Key Resistance Zone

01/02/2023 4:16am

NEWSBTC

Ethereum is attempting a fresh increase above the $1,580 resistance against the US Dollar. ETH could gain bullish momentum if it clears the $1,610 resistance zone. Ethereum is slowly moving higher from the $1,530 support zone. The price is now trading below $1,600 and the 100 hourly simple moving average. There is a key rising channel forming with support at $1,575 on the hourly chart of ETH/USD (data feed via Kraken). The pair could attempt a fresh increase if there is a clear move above the $1,610 resistance. Ethereum Price Faces Resistance Ethereum price extended its decline below the $1,600 support zone. However, ETH bulls were active near the $1,550 level. A low was formed near $1,530 before the price started a decent increase, similar to bitcoin. There was a break above the $1,565 and $1,580 levels. The price climbed above the 23.6% Fib retracement level of the downward wave from the $1,660 swing high to $1,530 low. It even spiked above the $1,595 resistance and the 100 hourly simple moving average. Ether price is now facing a strong resistance near the $1,600 zone and trading below the 100 hourly simple moving average. There is also a key rising channel forming with support at $1,575 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com An immediate resistance is near the $1,595 level. It is close to the 50% Fib retracement level of the downward wave from the $1,660 swing high to $1,530 low. The next major resistance is near the $1,610 level. An upside break above the $1,610 resistance zone could start a decent increase. In the stated case, the price may perhaps rise towards the $1,660 resistance. Any more gains might send ether towards the $1,720 level. Fresh Decline in ETH? If ethereum fails to clear the $1,610 resistance, it could start a fresh decline. An initial support on the downside is near the $1,575 level and the channel trend line. The next major support is near the $1,530 level. If there is a break below $1,530, the price might drop towards the $1,500 support. Any more losses might call for a test of the $1,450 zone in the near term. 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 – $1,530 Major Resistance Level – $1,610

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