Ethereum Price Consolidates Above $1,620, Eyes Gains Above $1,680
Ethereum Price Update
Ethereum (ETH) has started an increase above $1,620 and is currently consolidating, potentially targeting gains above $1,680.
- ETH moved above $1,600 and $1,620, trading at $1,625 and above the 100-hourly Simple Moving Average.
- A bullish trend line is forming with support at $1,625 on the hourly chart of ETH/USD.
- Resistance levels are at $1,660 and $1,680; a break above $1,690 could push the price toward $1,750.
- If resistance at $1,660 holds, initial support is near $1,620, followed by major support at $1,610.
- Further losses might see the price drop to $1,575 or $1,550, with a key support level at $1,500.
Technical Indicators
- Hourly MACD is losing momentum in the bullish zone.
- Hourly RSI is above the 50 zone.
