Ethereum is consolidating positive factors above $1,500 in opposition to the US Greenback. ETH may begin one other improve and clear the $1,600 resistance zone within the close to time period.

• Ethereum is displaying optimistic indicators above the $1,500 and $1,520 resistance ranges.
• The value is now buying and selling above $1,550 and the 100 hourly easy transferring common.
• There’s a connecting bullish pattern line forming with assist close to $1,570 on the hourly chart of ETH/USD (knowledge feed through Kraken).
• The pair may rise additional except there’s a draw back break beneath the $1,515 assist.

Ethereum Worth Eyes One other Improve

Ethereum worth remained steady above the $1,500 resistance. ETH made one other try and clear the $1,600 resistance zone, much like bitcoin at $21,500.

Nonetheless, the bears had been energetic close to the $1,600 resistance zone. A excessive is shaped close to $1,607 and the value is now consolidating positive factors. There was a minor decline beneath the 50% Fib retracement degree of the upward transfer from the $1,541 swing low to $1,607 excessive.

The value is now displaying optimistic indicators above the $1,540 assist. It even remained steady above the 61.8% Fib retracement degree of the upward transfer from the $1,541 swing low to $1,607 excessive.

Ether worth is now buying and selling above $1,550 and the 100 hourly easy transferring common. There may be additionally a connecting bullish pattern line forming with assist close to $1,570 on the hourly chart of ETH/USD. A right away resistance is close to the $1,600 degree. The following main resistance is close to the $1,620 degree. An upside break above the $1,620 resistance zone may begin a contemporary improve.

Supply: ETHUSD on TradingView.com

Within the acknowledged case, the value could maybe rise in the direction of the $1,700 resistance. Any extra positive factors may ship the value in the direction of $1,720 and even $1,750 within the close to time period.

Dips Restricted in ETH?

If ethereum fails to clear the $1,600 resistance, it may begin a draw back correction. An preliminary assist on the draw back is close to the $1,575 degree and the pattern line.

The following main assist is close to the $1,550 degree. If there’s a transfer beneath $1,550, the value may check the $1,515 assist. Any extra losses may name for a check of the $1,450 zone.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now gaining momentum within the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 degree.

Main Help Stage – $1,540

Main Resistance Stage – $1,600