{"id":459141,"date":"2021-03-21T05:28:39","date_gmt":"2021-03-21T05:28:39","guid":{"rendered":"https:\/\/ktsl888.com\/?p=459141"},"modified":"2024-06-11T14:14:07","modified_gmt":"2024-06-11T14:14:07","slug":"ethereum-must-hold-1700","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-must-hold-1700\/","title":{"rendered":"Why Ethereum Must Hold $1,700 for Fresh Rally To $2,000"},"content":{"rendered":"
Ethereum struggled to settle above the $1,850 resistance and corrected lower against the US Dollar. ETH price is must stay above $1,700 to avoid a strong downside break.<\/em><\/p>\n This past week, bitcoin and ethereum saw a fresh decline from $60,000 and $1,880 respectively against the US Dollar. ETH remained well bid above the $1,710 level<\/a> and the 100 simple moving average (4-hours).<\/p>\n The last swing low was formed near $1,173 before there was an upward move. The price climbed above the $1,800 resistance level. There was a break above the 50% Fib retracement level of the downward move from the $1,942 high to $1,713 low.<\/p>\n However, the price failed to clear the $1,850 resistance zone. It seems like the price failed to clear the 61.8% Fib retracement level of the downward move from the $1,942 high to $1,713 low.<\/p>\n <\/a><\/p>\n Ether is currently declining and trading below $1,800. There is also a key rising channel forming with support near $1,775 on the 4-hours chart of ETH\/USD. If there is a downside break below the channel support, there is a risk of a drop towards the $1,710 support. Any more losses below $1,700 may possibly open the doors for a larger decline towards $1,550 and $1,500.<\/p>\n\n
Ethereum Is Facing Hurdles<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Rally in Ether (ETH)?<\/h2>\n