Ethereum Price Holds After Rise—Looking Forward to More Gains

Ethereum price again rose beyond $1,580. ETH is stabilizing and may rise beyond $1,665.

Ethereum rallied over $1,580 and $1,620.
The price is below $1,620 and the 100-hour SMA.

The hourly ETH/USD chart shows a new connecting negative trend line with resistance at $1,640.

The pair might rise again if it breaks $1,665 barrier.
Ethereum Price Rises

Like Bitcoin, Ethereum price base-lined over $1,500 and rose. ETH accelerated past $1,550 and $1,580 barriers.

Bulls even pushed prices over $1,620. The price began a negative decline after reaching $1,668. Below the $1,650 support zone. The price fell below the 23.6% Fib retracement level of the $1,482 swing low to $1,668 high.

Ethereum has fallen below $1,600 and the 100-hour SMA. The price may face resistance at $1,640 on the upside. The hourly ETH/USD chart shows a new connecting negative trend line with resistance at $1,640.

Near $1,665 is the next resistance. Near $1,680 is the first substantial resistance. A clean break over $1,680 might push the price above $1,720. Above $1,720 barrier might lead to greater advances in the following sessions. Ether might soar to $1,750 or $1,800 in the short future.
Ethereum may fall if it fails to break $1,640. Initial downward support is approaching $1,600. The first significant support is at $1,575 and the 50% Fib retracement level of the upward run from $1,482 swing low to $1,668 high.

A decisive break below $1,575 might bring the price into $1,550. More losses might push the price toward $1,520. The next support is $1,480.

Tech Indicators

Hourly MACD - ETH/USD MACD is losing bullish momentum.

Hourly ETH/USD RSI is over 50.

Major Support—$1,575

Major Resistance: $1,665

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