Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

NewsBTC 2022-08-23 08:48:48

TA: Ethereum Could Recover To $1,800 If It Clears This Key Resistance

Ethereum found support near the $1,520 zone against the US Dollar. ETH is attempting an upside correction and might eye a strong move towards $1,800. Ethereum remained well bid above the $1,520 level and corrected above $1,600. The price is now trading below $1,650 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,625 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if there is a clear move above the $1,650 resistance. Ethereum Price Faces Hurdle Ethereum found support near the $1,520 zone. ETH bears made two attempts to push the price below the $1,520 support, but the bulls remained active. A base was formed near $1,520 and the price started a decent increase. There was a move above the $1,580 and $1,600 levels. Ether price even spiked above the 23.6% Fib retracement level of the downward move from the $1,880 swing high to $1,524 low. It is now trading below $1,650 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,650 level. There is also a key bearish trend line forming with resistance near $1,625 on the hourly chart of ETH/USD. The first major resistance is now forming near the $1,700 level. It is near the 50% Fib retracement level of the downward move from the $1,880 swing high to $1,524 low. A clear move above the $1,700 level could send the price further higher. Source: ETHUS...

freebitcoin
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.