{"id":180373,"date":"2023-08-22T05:39:33","date_gmt":"2023-08-22T05:39:33","guid":{"rendered":"https:\/\/precoinnews.com\/?p=180373"},"modified":"2023-08-22T05:39:33","modified_gmt":"2023-08-22T05:39:33","slug":"ethereum-price-key-indicators-suggest-rising-selling-interest-below-1700","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ethereum-price-key-indicators-suggest-rising-selling-interest-below-1700\/","title":{"rendered":"Ethereum Price Key Indicators Suggest Rising Selling Interest Below $1,700"},"content":{"rendered":"<p><em>Ethereum price is struggling to recover above the $1,700 resistance against the US Dollar. ETH could start a fresh decline if it stays below $1,700 and $1,720.<\/em><\/p>\n<ul>\n<li>Ethereum is struggling to recover above the $1,700 and $1,720 levels.<\/li>\n<li>The price is trading below $1,700 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $1,680 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start another decline if it stays below the $1,700 level in the near term.<\/li>\n<\/ul>\n<h2>Ethereum Price Consolidates Below $1,700<\/h2>\n<p>Ethereum\u2019s price started a recovery wave from the $1,520 zone. ETH managed to recover above the $1,550 and $1,580 levels, similar to Bitcoin.<\/p>\n<p>However, the price is struggling to recover above the $1,700 and $1,720 levels. It is now moving lower and trading below the 23.6% Fib retracement level of the recovery wave from the $1,517 swing low to the $1,716 high. There is also a key bearish trend line forming with resistance near $1,680 on the hourly chart of ETH\/USD.<\/p>\n<p>Ether is now trading below $1,700 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1,680 level and the trend line.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Ethereum-8.png?resize=1024%2C468\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>The next resistance is near $1,690 or the 100-hourly Simple Moving Average. The first major resistance is forming near $1,700 and $1,720. A close above the $1,720 level could start a decent increase in the near term. The next major resistance is near the $1,750 level. Any more gains might send the price toward the $1,820 resistance or even $1,880 in the coming days.<\/p>\n<h2>Another Drop in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,700 resistance, it could start another decline. Initial support on the downside is near the $1,620 level or the 50% Fib retracement level of the recovery wave from the $1,517 swing low to the $1,716 high.<\/p>\n<p>The first major support is near the $1,600 zone. If there is a downside break below $1,600, there could be more losses. The next major support is near the $1,565 support level. Any more losses might send the price toward the $1,520 level in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,600<\/p>\n<p>Major Resistance Level \u2013 $1,700<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-selling-interest-1700\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is struggling to recover above<\/p>\n","protected":false},"author":3,"featured_media":180372,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum Price Key Indicators Suggest Rising Selling Interest Below $1,700 - 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