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Ethereum -Price started a new increase above $ 1,620 zone. ETH is now profits and can strive for more profit above $ 1,680.
- Ethereum started a considerable increase above the levels of $ 1,600 and $ 1,620.
- The price is traded above $ 1,625 and the 100-Urly simple advancing average.
- There is a new connecting bullish trend line that forms with support at $ 1,625 on the hourly table ETH/USD (data special via Kraken).
- The couple can start a new increase if it knew the $ 1,680 resistance zone.
Ethereum price eyes more profit
Ethereum -Price formed a base above $ 1,520 and started a new increase, such as Bitcoin. ETH was given pace for a movement above the resistance levels of $ 1,580 and $ 1,600.
The bulls even pumped the price above $ 1,650 zone. A high was formed at $ 1,690 and the price recently started a disadvantage correction. There was a movement under the $ 1,640 support zone. The price fell below the 50% FIB retracement level of the upward movement of the $ 1,562 Swing low to the $ 1,690 high.
However, the bulls were active near the $ 1,620 zone. Ethereum price is now being traded above $ 1,625 and the 100-hour simple advancing average. There is also a new connecting bullish trend line that forms with support for $ 1,625 on the ETH/USD graph per hour.
At the top the price seems to have to do with obstacles near the level of $ 1,660. The next key resistance is near the level of $ 1,680. The first major resistance is near the level of $ 1,690. A clear movement above the $ 1,690 resistance can send the price to $ 1,750 resistance.
An upward break above the $ 1,750 resistance can request more profit in the upcoming sessions. In the indicated case, Ether could rise in the short term to the $ 1,800 resistance zone or even $ 1,880.
Another decline of ETH?
If Ethereum did not know the resistance of $ 1,660, this can start a downward correction. The first support at the disadvantage is near the level of $ 1,620. The first major support is near the $ 1,610 zone and the 61.8% FIB retracement level of the upward movement of the $ 1,562 Swing low to $ 1,690 high.
A clear movement under the support of $ 1,610 can push the price to the support of $ 1,575. All losses can send the price in the short term to the support level of $ 1,550. The following key support is at $ 1500.
Technical indicators
Hour MacD – The MACD for ETH/USD loses momentum in the bullish zone.
Hour RSI – The RSI for ETH/USD is now above 50 zone.
Large support level – $ 1,610
Large resistance level – $ 1,660