Against the US dollar, the price of Ethereum is aiming for a crucial upside break above $1,650. If ETH closes above $1,650 and $1,670, the bullish trend may continue.
- The $1,650 resistance is being approached by Ethereum as it rises.
- Over $1,610 and the 100-hour simple moving average, the price is currently trading.
- On the hourly chart of ETH/USD (data feed via Kraken), a short-term rising channel is forming, with support located close to $1,630.
- If the price of the pair closes above $1,650 and $1,670, it may continue to rise.
Ethereum price is slowly moving higher above $1,600 against the US Dollar. ETH could gain bullish momentum unless there is a nasty drop below $1,550. Ethereum is showing a few positive signs for a move above the $1,650 resistance. The price is trading above $1,600 and the… #ETH pic.twitter.com/dU8ED22KjJ
— Juan Manuel Chávez ₿ Ξ #Bitcoin 🇲🇽 (@JuanChavMaci) September 14, 2023
Ethereum Price Eyes Upside Break
Above $1,580, the price of Ethereum established a base and continued to rise. Like Bitcoin, ETH traded above the $1,620 resistance to enter a positive zone.
— Lee (@Lee05671741) September 13, 2023
At $1,650, a significant barrier exists that, if broken, would allow for further price growth. The 100-hour simple moving average and the price of ether are currently trading above $1,610. Additionally, it is above the recent rise from the $1,582 swing low to the $1,644 high, which is represented by the 23.6% Fib retracement line.
On the hourly chart of ETH/USD, a short-term rising channel is also developing, with support located close to $1,630. The price may encounter resistance near the $1,645 level on the upside. Near the $1,650 mark, there will be the next resistance. If the $1,650 barrier is closed above, the price may go in the direction of the $1,670 resistance.
The price has to stabilize over the $1,670 resistance level to begin a steady climb. The next significant obstacle is close to the $1,750 mark. If the $1,750 mark is reached above, Ethereum may rise toward $1,880.
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