The price of Ethereum is seeking to go through $1,720 versus the US dollar. If ETH breaks through the $1,750 resistance, it could surge higher.
- Ethereum is trying a new rise above the $1,720 mark.
- The price is currently trading over $1,700 as well as the 100-hourly Simple Moving Average.
- On the hourly chart of ETH/USD (data feed through Kraken), a connecting trend line is forming with resistance near $1,750.
- If the pair breaks through the $1,750 resistance level, it could continue to advance.
Ethereum’s Price Surge Must surpass $1,750 Barrier,Ethereum’s Price Surge Must surpass $1,750 Barrier
The price of Ethereum is rising
The price of Ethereum has settled over the $1,650 mark. ETH, like Bitcoin, created a base above $1,650 and has just begun a decent rise above the $1,700 level.
The price rose above the $1,720 resistance level and probed the $1,750 area. A high was made near $1,756, and a modest downside correction occurred. The price fell below the $1,735 mark. However, it is still above the 50% Fib retracement line of the latest rise from the swing low of $1,668 to the high of $1,756.
Ethereum is currently trading over $1,700 as well as the 100-hourly Simple Moving Average. On the upside, the price may encounter resistance near $1,750. On the hourly chart of ETH/USD, a connecting trend line is forming with resistance near $1,750.
The next significant resistance level is $1,800. A decisive break above the $1,800 resistance level could lay the stage for a greater gain. In this scenario, the price could test the $1,850 resistance. The next significant resistance level could be $1,920. Any further advances might pave the way for a move towards $2,000.
Are Dips Accepted in ETH?
If Ethereum fails to break over the $1,750 resistance level, it may begin a downward trend. On the downside, initial support is near $1,710. The next important support level is $1,680.
The 76.4% Fib retracement level of the recent rise from the $1,668 swing low to the $1,756 high is also near $1,685 and might provide support if the price falls below it. A break below the $1,650 support level could trigger another bearish wave. In the aforementioned scenario, the price could fall towards $1,600.
Ethereum’s Price Surge in Danger: Must surpass $1,750 Barrier, Ethereum’s Price Surge in Danger: Must surpass $1,750 Barrier, Ethereum’s Price Surge in Danger: Must surpass $1,750 Barrier, Ethereum’s Price Surge in Danger: Must surpass $1,750 Barrier