Against the US dollar, the price of ethereum is battling to move beyond $1,700. The $1,620 support may be important since ETH whales appear to be gathering.
Bipartisan talks have caused more damage to the economy than Maandamano.
the Kshs against the US DOLLAR before talks,
The price of Sugar and salt
The price of fuel & Unga, all went up.
No govt has taxed its citizen like Kenya Kwanza
Bernice Kariuki azimio Sabina Chege pic.twitter.com/UPs9giDEhr
— The Government Critic 🇰🇪 (@magwaz3) May 30, 2023
- Ethereum is having difficulty moving above the $1,680 and $1,700 price points.
- The price is trading below both the 100-hour simple moving average and the $1,670 mark.
- On the hourly chart of ETH/USD (data feed via Kraken), there is a connected negative trend line forming, with resistance located at approximately $1,665.
- Above the $1,670 and $1,700 resistance levels, the pair might begin a respectable climb.
Ethereum Price Holds Support
Above $1,650, Ethereum’s price started a brief upward correction. Even if ETH rose above $1,670, like Bitcoin, bears were aggressive in the $1,700 area.
— CryptOOpiniouS (@cryptoopinious) May 29, 2018
The price is now declining and reached a high of $1,698 during trading. There was a decline of under $1,670. Even the 50% Fib retracement level of the upward movement from the $1,580 swing low to the $1,698 high was tested by the price.
At this time, the price of ether is below $1,670 and the 100-hour SMA. On the hourly chart of ETH/USD, a connecting negative trend line is also developing, with resistance located close to $1,665.
More Losses in ETH?
Ethereum may continue to decline if the $1,700 resistance is not overcome. Near $1,640 is where initial support on the downside is located.
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 61.8% Fib retracement level of the upward movement from the $1,580 swing low to the $1,698 high, or the $1,620 area, serves as the first significant support. Nearly $1,600 is the next crucial level of support. More losses can occur if the price breaks lower on the downside than $1,600. Near the $1,520 support level is the next significant level of support. Any additional losses might push the price down below $1,320 or even the $1,440 mark.