{"id":452686,"date":"2020-12-20T06:18:05","date_gmt":"2020-12-20T06:18:05","guid":{"rendered":"https:\/\/ktsl888.com\/?p=452686"},"modified":"2024-06-11T14:12:09","modified_gmt":"2024-06-11T14:12:09","slug":"ethereum-eth-could-rally-to-700","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-eth-could-rally-to-700\/","title":{"rendered":"Ethereum Just Saw Key Technical Correction, Why ETH Could Rally To $700"},"content":{"rendered":"
Ethereum rallied above $650 and $660 before correcting lower against the US Dollar. ETH price is likely to remain supported and it might start a fresh increase towards $700.<\/em><\/p>\n This past week, bitcoin<\/a> and ethereum saw a significant rally above $600 and $20,000 respectively against the US Dollar. ETH price even surpassed the $630 resistance zone and settled well above the 100 simple moving average (4-hours).<\/p>\n Ether price gained pace above the $650 resistance<\/a> and it traded to a new yearly high above $670. Recently, there was a downside correction below the $660 and $650 levels.<\/p>\n The price broke the 50% Fib retracement level of the recent rally from the $632 swing low to $660 swing high. At the moment, the bears are attempting a downside break below a major contracting triangle with support near $645 on the 4-hours chart of ETH\/USD.<\/p>\n The next key support is near the $640 level. It is close to the 76.4% Fib retracement level of the recent rally from the $632 swing low to $660 swing high.<\/p>\n <\/a><\/p>\n On the upside, an initial resistance is near the $660 level. The first major resistance is near the triangle upper trend line at $665. A successful close above the $660 and $665 level may possibly open the doors for more upsides above $670. The next major stop for the bulls could be $700.<\/p>\n If Ethereum fails to clear the $660 and $665 resistance levels, there is a risk of short-term decline. An initial support is near the $640 level.<\/p>\n The main support is forming near the $620 level. There is also a key bullish trend line forming with support near $624 on the same chart. Any more losses could lead the price towards $600.<\/p>\n Technical Indicators<\/p>\n 4 hours MACD \u2013 The MACD for ETH\/USD is slowly gaining momentum in the bearish zone.<\/p>\n 4 hours RSI – The RSI for ETH\/USD is still well above the 50 level.<\/p>\n Major Support Level \u2013 $620<\/p>\n Major Resistance Level \u2013 $665<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum rallied above $650 and $660 before correcting lower against the US Dollar. ETH price is likely to remain supported and it might start a fresh increase towards $700. ETH price gained pace after it broke the $650 resistance against the US Dollar. The price is currently correcting lower from $670 and trading well above the 100 simple moving average (4-hours). There is a key bullish trend line forming with support near $624 on the 4-hours chart of ETH\/USD (data feed via Kraken). The pair could rise again as long as it is trading above the $620 support zone. Ethereum\u2019s Ether Remains In Uptrend This past week, bitcoin and ethereum saw a significant rally above $600 and $20,000 respectively against the US Dollar. ETH price even surpassed the $630 resistance zone and settled well above the 100 simple moving average (4-hours). Ether price gained pace above the $650 resistance and it traded to a new yearly high above $670. Recently, there was a downside correction below the $660 and $650 levels. The price broke the 50% Fib retracement level of the recent rally from the $632 swing low to $660 swing high. At the moment, the bears are attempting a downside break below a major contracting triangle with support near $645 on the 4-hours chart of ETH\/USD. The next key support is near the $640 level. It is close to the 76.4% Fib retracement level of the recent rally from the $632 swing low to $660 swing high. Source: ETHUSD on TradingView.com On the upside, an initial resistance is near the $660 level. The first major resistance is near the triangle upper trend line at $665. A successful close above the $660 and $665 level may possibly open the doors for more upsides above $670. The next major stop for the bulls could be $700. Dips Supported in Ether (ETH)? If Ethereum fails to clear the $660 and $665 resistance levels, there is a risk of short-term decline. An initial support is near the $640 level. The main support is forming near the $620 level. There is also a key bullish trend line forming with support near $624 on the same chart. Any more losses could lead the price towards $600. Technical Indicators 4 hours MACD \u2013 The MACD for ETH\/USD is slowly gaining momentum in the bearish zone. 4 hours RSI – The RSI for ETH\/USD is still well above the 50 level. Major Support Level \u2013 $620 Major Resistance Level \u2013 $665<\/p>\n","protected":false},"author":67,"featured_media":452688,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1946,8686,78803],"class_list":["post-452686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum\u2019s Ether Remains In Uptrend<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in Ether (ETH)?<\/h2>\n