The price of Ethereum in relation to the US dollar is reversing gains from the $1,750 resistance. ETH is currently trading above the $1,680 support level and may begin a new uptrend.
— Linus (@harbington) September 19, 2019
Below $1,720, Ethereum started to correct downward.
The price is currently trading above both the 100-hour simple moving average and $1,690.
On the hourly chart of ETH/USD (data feed via Kraken), a connected negative trend line is developing, with resistance located close to $1,705 (data feed).
The two might start a new increase soon above $1,720 and $1,750.
Ethereum Price Eyes Fresh Increase
Above $1,700, Ethereum’s price started to rise significantly. Before the bears surfaced, ETH soared near the $1,750 region, like Bitcoin.
— TechNoobs (@Tech_Noobs) June 30, 2019
Near $1,747, a peak was created, and most recently, the price began to decline. There was a decline below the $1,720 mark. Even the important gain from the $1,640 swing low to the $1,747 high was traded very closely to the 50% Fib retracement line.
The bulls, though, are active over the $1,680 mark. At this time, the price of ether is above $1,690 and the 100-hour SMA. On the ETH/USD hourly chart, there is also a connecting negative trend line forming with resistance near $1,705.
I feel like Aping into VERY active Projects w/ Founders that are in it for the long run and betterment of Web3. Trying to keep it kind of light though, no more than 3-5ETH.🦍🤝💣
Feel free to recommend any NFT you see taking off when the market turns bull. 🐂📈
— BAYC#4567 || Investor 🦍🍌 (@BombNFTs) September 3, 2022
On the upside, the price may encounter resistance close to the trend line and the $1,700 mark. Near the $1,710 mark, there will be the next resistance. The price could move toward the $1,750 region if it closes over the $1,710 mark. Ethereum might climb toward the $1,800 resistance if there is a decisive move above the $1,750 level. The price could move toward the $1,850 resistance level with any additional increases.
More Losses in ETH?
Ethereum may continue to decline if the $1,710 resistance is not overcome. Near $1,690 is where initial support on the downside is located. Near $1,680, or the 61.8% Fib retracement line of the significant climb from the $1,640 swing low to the $1,747 high, is the first important support.
Blur is now destroying your grails.
Punks down over 10 ETH in just one day.
All this wash trading won't be worth it if the token price of Blur keeps falling. The more the Blur price falls, the more people like Machi will need to farm to offset the losses.
Still bullish? pic.twitter.com/0DWUb9HlVu
— HashBastards (@HashBastardsNFT) March 21, 2023
The $1,665 mark serves as the next significant support. The price may continue to fall toward the $1,620 level if there is a downward break below $1,665. In the short future, any further losses could push the price in the direction of $1,540.