As of today, the value of Ethereum in the market is $1,670.15 USD with a trading volume of $6,830,317,236 USD over the past 24 hours. Ethereum has experienced a 2.84% increase during this time.

It currently holds the second rank on CoinMarketCap’s list with a market cap of $200,812,237,815 USD. There are currently 120,236,031 ETH coins in circulation, and the maximum supply is not available.

The price of Ethereum is trying to make a new upward movement above $1,650 when paired with the US Dollar.

  • If it manages to surpass the $1,670 resistance, ETH may gain momentum. It is currently trading above $1,620 and the 100-hourly Simple Moving Average.
  • On the hourly chart of ETH/USD (data feed via Kraken), there is a significant bullish trend line forming with support near $1,645.
  • If the pair successfully clears the $1,670 resistance zone, it could continue to rise.

ETH Surges as Investors Show Confidence in Ethereum’s Future

ETH maintained a steady position above $1,580 and saw an increase in value as it surpassed the $1,620 resistance point. Despite reaching $1,667, the price saw limited gains and experienced a slight downturn. Currently,

Ethereum is trading above $1,640 and the 100-hourly Simple Moving Average, with a bullish trend line forming at around $1,645 on the hourly chart of ETH/USD.

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ETH/USD Price Chart – Source: Tradingview

There is potential for the price to encounter a barrier at $1,670 and then again at the significant resistance level of $1,720. If the price manages to surpass this resistance level, it could lead to a substantial increase and possibly reach the $1,800 resistance.

The next crucial resistance to watch out for is at $1,820, and any further gains may signal a move towards $1,880.

Exploring the Limits of Dips in ETH: What You Need to Know

Should Ethereum fail to surpass the $1,670 resistance level, a downside correction may occur. The initial support on the downside is located around the $1,645 level and the trend line. If the price drops further, the next significant support is at $1,620.

If this level is breached, the price may test the $1,600 support. In the event of a downside break below the $1,600 support, a bearish wave may ensue, leading to a drop towards the $1,540 level.

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