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Friday, August 19, 2022
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    HomeMarketEthereum Eyes Fresh Surge, Why ETH Could Surpass $1,700

    Ethereum Eyes Fresh Surge, Why ETH Could Surpass $1,700

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    Ethereum remained properly bid above the $1,465 stage towards the US Greenback. ETH may begin a contemporary surge if there’s a shut above the $1,600 resistance.

    • Ethereum corrected decrease however the bulls had been lively close to the $1,465 zone.
    • The value is now buying and selling above $1,500 and the 100 hourly easy shifting common.
    • There’s a essential bullish pattern line forming with help close to $1,520 on the hourly chart of ETH/USD (knowledge feed through Kraken).
    • The pair may begin a contemporary surge if there’s a clear transfer above the $1,600 zone.

    Ethereum Worth Stays Supported

    Ethereum began a downside correction beneath the $1,550 stage. ETH even traded beneath the $1,500 help stage however the bulls had been lively close to a significant help.

    It examined the $1,465 zone and the 100 hourly easy shifting common. There’s additionally an important bullish pattern line forming with help close to $1,520 on the hourly chart of ETH/USD. The pair stayed above the important thing $1,465 help zone and began one other improve.

    Ether worth climbed above the $1,550 resistance zone. There was a transfer above the 50% Fib retracement stage of the draw back correction from the $1,622 swing excessive to $1,464 low.

    The value is now buying and selling above $1,500 and the 100 hourly simple moving average. A direct resistance on the upside is close to the $1,585 stage. It’s close to the 76.4% Fib retracement stage of the draw back correction from the $1,622 swing excessive to $1,464 low.

    Ethereum Price

    Supply: ETHUSD on TradingView.com

    The primary main resistance is close to the $1,600 zone. The principle breakout zone is now forming close to the $1,620 zone. A transparent transfer above the $1,620 stage may begin one other main improve. The subsequent key barrier is close to the $1,700 stage, above which the worth would possibly rise in the direction of the $1,800 resistance zone.

    Extra Losses in ETH?

    If ethereum fails to rise above the $1,585 resistance, it may proceed to maneuver down. An preliminary help on the draw back is close to the $1,520 zone and the pattern line.

    A transparent transfer beneath the pattern line help would possibly push the worth in the direction of the $1,465 help zone. Any extra losses would possibly even push ether worth to the $1,375 help.

    Technical Indicators

    Hourly MACDThe MACD for ETH/USD is now dropping momentum within the bullish zone.

    Hourly RSIThe RSI for ETH/USD is now above the 50 stage.

    Main Help Degree – $1,465

    Main Resistance Degree – $1,585



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