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Ethereum Price began a new push above the resistance of $ 1,720. ETH now corrects the gains and could review the support area of $ 1,700.
- Ethereum began a new gathering over the $ 1,720 area.
- The price is traded over $ 1,700 and the mobile average at 100 hours.
- There is a lower connection trend line forming with resistance at $ 1,780 on the ETH / USD hourly graph (data flow via Kraken).
- The pair could start a new increase if it erases the resistance zone by $ 1,800.
Decreased Ethereum Price Signals
Ethereum the price remained stable above the level of $ 1,680 and started a new increase, as Bitcoin. ETH exchanged above $ 1,720 levels and $ 1,750. The Bulls even pumped the price above $ 1,800.
A summit was formed at $ 1,834 and the price recently started a downward correction. There was a movement below the level of FIB retracement of 23.6% of the upward movement from the bottom of $ 1,565 to a high of $ 1,834. The price even dropped below $ 1,780 level.
There is also a downline connection trend line forming with resistance at $ 1,780 on the ETH / USD time table. Ethereum Price is now negotiated over $ 1,720 and the mobile average at 100 hours.
Uplining, the price seems to be confronted with obstacles near the level of $ 1,780 and the trend line. The next key resistance is close to the level of $ 1,800. The first major resistance is close to the level of $ 1,840. A clear decision above the resistance at $ 1,840 could send the price to the Resistance at $ 1,920.
An upward break above the resistance of $ 1,920 could require more gains in future sessions. In the case indicated, the ether could increase to the resistance zone by $ 1,950 or even $ 2,000 in the short term.
Are DIPs limited in ETH?
If Ethereum fails to erase the resistance of $ 1,780, this could start a new drop. The initial support for the decline is close to the level of $ 1,725. The first major medium is near the $ 1,700 area and the FIB trace level at 50% of the uphill climb of $ 1,565 at $ 1,834.
A clear decision below $ 1,700 support could push the price to the $ 1,650 support. Other losses could send the price to the level of support of $ 1,620 in the short term. The next key support is $ 1,550.
Technical indicators
Schedule macD – The MacD for ETH / USD loses its momentum in the bullish area.
House – The RSI for ETH / USD is now less than zone 50.
Major level of support – $ 1,700
Major resistance level – $ 1,800
