Ethereum Price Falls Below $1,750, Eyes Fresh Surge
Ethereum prices fell below $1,750 against the US Dollar, but remained well supported above $1,680. ETH is now eyeing a fresh surge higher above the $1,750 level.
It seems that Ethereum is facing some selling pressure at the moment, but it is still holding above $1,680. This suggests that there is still strong demand for ETH around this level. If buyers can push prices back above $1,750, we could see Ethereum surge higher once again.
- The recent bullish trend in Ethereum prices has been encouraging, with the digital currency trading above the $1,680 and $1,700 levels. This positive momentum could continue in the short-term, as Ethereum looks poised to break through key resistance levels.
- Looking at the chart, it seems that the price is now trading near the $1,720 level and the 100 hourly simple moving average. This is an important area to watch, as it could give us some insight into where the price might head next.
- The key bullish flag pattern that is forming on the ETH/USD chart could see the pair surge higher if it is able to break above resistance near $1,730. This would open up the possibility for ETH/USD to test the next key level of resistance near $1,800.
- The pair will continue to rise in the near term, clearing $1,850. This will be a positive development for the markets and investors alike.
Ethereum Price Aims Higher
Ethereum's recent price surge may have come as a surprise to some, but for those who have been following the cryptocurrency closely, it was only a matter of time. After all, Ethereum has been steadily gaining ground against other major cryptocurrencies like Bitcoin and Litecoin, and its overall value has been on the rise for months. Now, with Ethereum's price hovering around the $1,700 mark, it seems like the cryptocurrency is finally starting to get the recognition it deserves.
The recent dip in Ethereum prices below the $1,700 level is a bearish sign, and suggests that the recent uptrend may be losing steam. The price is now approaching key support levels, and a further decline could see it retesting the $1,490 swing low. If that level is breached, Ethereum could be headed for a prolonged period of weakness.
The price of Bitcoin is on the rise, trading above $1,700 and nearing $1,720. The bulls are in control and it looks like the 100 hourly simple moving average may provide some support.
Overall, the outlook for ETH appears bullish in the near-term, with prices potentially rising towards the $1,750 and $1,780 levels in the coming sessions.
It is clear that the bulls are in control of the market at the moment and that any further gains could see the price move towards the $1,850 resistance level. This would be a significant move and could open the doors for further gains towards the $1,880 level.
Dips in ETH prices may be limited in the near future.
If ethereum fails to rise above the $1,750 resistance, it could start a downside correction. An initial support on the downside is near the $1,680 zone. The ethereum price has been struggling to gain traction above the $1,750 resistance zone over the past few days.
If the price of ether falls below $1,650, it could signal further losses, with the price potentially dropping to $1,600.
Technical indicators are important tools that can be used to gauge the performance of a stock or market.
The MACD for ETH/USD is now gaining momentum in the bullish zone, indicating that the hourly price trend is bullish. This could lead to further upside in the ETH/USD price in the short-term.
The RSI for ETH/USD is now above the 50 level, indicating that the hourly price trend is bullish.
The major support level for the market is currently at $1,680. This is a key level to watch, as a break below it could signal further weakness in the market.
The major resistance level for gold remains at $1,750 per ounce. This is a key level that must be breached in order for gold prices to move higher.