Key Level for Ethereum Price Indicates Potential for a Promising Rally

Key Level for Ethereum Price Indicates Potential for a Promising Rally


Ethereum (ETH) Price Prepares for Upside Break

Ethereum’s price has shown stability over the $1,620 support zone, indicating a probable upward move. The price of Ethereum (ETH) made an attempt to surpass the $1,650 resistance level, similar to Bitcoin.

Despite the fact that there was a spike over $1,650, the bulls faced resistance near $1,670. The price reached a high of around $1,669 before retracing its gains and sliding below $1,650. The bears pushed it below the 50% Fibonacci retracement level, which is based on the upward movement from the swing low of $1,625 to the high of $1,669.

Nevertheless, the $1,640 zone was defended by the bulls. It is as of now trading over $1,640 and the 100-hourly Simple Moving Average. In addition, there is a key positive trend trend line forming, with support near $1,625 on the hourly chart of ETH/USD.

READ NOW
Bitcoin and Altcoin Weekly Report – September Week 4

The immediate resistance level is around $1,650, followed by $1,670. If the price manages to close over these levels, it might experience a whole lot of increase in value.

Hot Take

Ethereum’s price is showing indications of positive momentum as it maintains stability over the $1,620 support zone. With resistance levels at $1,650 and $1,670, a close over these levels could signal a substantial upward movement for ETH.

READ NOW
JPMorgan’s UK Digital Banking Platform Restricts Customers’ Access to Cryptocurrency Purchases
Author – Contributor at | Website

Newt Bettec emerges as an intellectual voyager at the intersection of crypto analysis, meticulous research, and editorial mastery. Within the digital labyrinth of cryptocurrencies, Newt’s intellect traverses intricate corridors, resonating with seekers of diverse inclinations. His talent for unraveling complex threads of crypto intricacies seamlessly blends with his editorial finesse, transmuting intricacy into an engaging tapestry of understanding.

READ NOW
Analyst Forecasts a 400% Surge in PEPE Price, Predicting Meme Coin to Soar
Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. Lolacoin.org does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.




Follow us

Latest Crypto News

Share via
Share via
Send this to a friend