{"id":30787,"date":"2023-10-23T06:57:31","date_gmt":"2023-10-23T06:57:31","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/10\/23\/ethereum-dragged-higher-by-bitcoin-but-can-eth-clear-hurdles\/"},"modified":"2023-10-23T06:57:31","modified_gmt":"2023-10-23T06:57:31","slug":"ethereum-dragged-higher-by-bitcoin-but-can-eth-clear-hurdles","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/10\/23\/ethereum-dragged-higher-by-bitcoin-but-can-eth-clear-hurdles\/","title":{"rendered":"Ethereum Dragged Higher By Bitcoin But Can ETH Clear Hurdles?"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Ethereum worth began an honest enhance after Bitcoin gained momentum in opposition to the US greenback. ETH is rising and would possibly check the important thing $1,750 resistance.<\/em><\/p>\n<ul>\n<li>Ethereum began an honest enhance above the $1,650 resistance.<\/li>\n<li>The worth is buying and selling above $1,660 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bullish pattern line forming with help close to $1,645 on the hourly chart of ETH\/USD (knowledge feed by way of Kraken).<\/li>\n<li>The pair might climb additional increased, but it surely would possibly face robust resistance close to $1,750.<\/li>\n<\/ul>\n<h2>Ethereum Price Reclaims $1,650<\/h2>\n<p>Ethereum stayed above the <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-defies-gravity-1600\/\" target=\"_blank\" rel=\"noopener\">$1,550 support zone<\/a>. The current pump in <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-hold-strong-at-30k\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> above the $28,500 resistance sparked bullish strikes in ETH. There was a gradual enhance above the $1,600 and $1,620 resistance ranges.<\/p>\n<p>The worth even cleared the important thing $1,650 resistance zone. A excessive is shaped close to $1,700 and the value is now consolidating features. It is buying and selling nicely above the 23.6% Fib retracement degree of the upward transfer from the $1,620 swing low to the $1,700 excessive.<\/p>\n<p>Ethereum is now buying and selling above $1,660 and the 100-hourly Simple Moving Average. There can also be a key bullish pattern line forming with help close to $1,645 on the hourly chart of ETH\/USD. The pattern line is close to the 61.8% Fib retracement degree of the upward transfer from the $1,620 swing low to the $1,700 excessive.<\/p>\n<p>On the upside, the value is going through resistance close to the $1,700 degree. The first main resistance is close to the $1,720 zone. The subsequent key resistance is $1,750, the place the bears would possibly emerge. To proceed increased, the value should settle above the $1,750 resistance.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Ethereum-16.png?resize=1024%2C468\"><img decoding=\"async\" class=\"alignnone size-full wp-image-556548\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Ethereum-16.png?resize=1024%2C468\" alt=\"Ethereum Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Ethereum-16.png?resize=1024%2C468?w=1835 1835w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Ethereum-16.png?resize=1024%2C468?w=460 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Ethereum-16.png?resize=1024%2C468?w=768 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Ethereum-16.png?resize=1024%2C468?w=860 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Ethereum-16.png?resize=1024%2C468?w=1536 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Ethereum-16.png?resize=1024%2C468?w=750 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Ethereum-16.png?resize=1024%2C468?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" loading=\"lazy\" data-recalc-dims=\"1\"\/><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener\">ETHUSD on TradingView.com<\/a><\/p>\n<p>In the acknowledged case, Ether might begin a robust enhance towards the $1,880 resistance. Any extra features would possibly open the doorways for a transfer towards $2,000.<\/p>\n<h2>Downside Correction in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,700 resistance, it might begin a draw back correction. Initial help on the draw back is close to the $1,660 degree.<\/p>\n<p>The subsequent key help is $1,645 and the pattern line zone. A draw back break under the $1,645 help would possibly ship the value additional decrease. In the acknowledged case, the value might drop towards the $1,620 degree and the 100-hourly Simple Moving Average. Any extra losses might maybe ship Ether towards the $1,550 degree.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum within the bullish zone.<\/p>\n<p>Hourly RSI<strong> \u2013 <\/strong>The RSI for ETH\/USD is now above the 50 degree.<\/p>\n<p>Major Support Level \u2013 $1,645<\/p>\n<p>Major Resistance Level \u2013 $1,700<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-dragged-higher-by-bitcoin-1700\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Ethereum worth began an honest enhance after Bitcoin gained momentum in opposition to the US greenback. ETH is rising and would possibly check the important thing $1,750 resistance. Ethereum began an honest enhance above the $1,650 resistance. The worth is buying and selling above $1,660 and the 100-hourly Simple Moving Average. There is a 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