Ethereum price gained momentum above $1,650 after Bitcoin’s rally against the US Dollar. According to renowned analyst Aayush Jindal, Ethereum price is still struggling around $1,760, but it will likely go higher.
- Ethereum price rallied above $1,650 and hit an all-time high near $1,777.
- Price is currently trading well above $1,650 and the 100 hourly easy moving average.
- There is a valuable ascending channel forming with support near $1,710 on the hourly chart of ETH/USD (data feed via Kraken).
- According to the analyst, the pair could drop to the $1,650 support, but a real rise to $1,800 is likely.
Analyst: Ethereum Price may continue to rise true to $1,800
After clearing the $1,650 resistance, Ethereum started a fresh increase. Ethereum price even cleared the $1,700 resistance but struggled to rise as high as Bitcoin. During the increase, there was a break above a major bearish trend line with resistance near $1,660 on the hourly chart of ETH/USD. The pair even climbed above $1,710 and even settled above the $1,750 resistance zone.
Ethereum price rose to an all-time high near $1,777 and is currently consolidating interests. ETH is trading well above $1,650 and the 100 hourly easy moving average. Instant reinforcement is close to the 23.6% Fib retracement level of the last rally.
Here are the critical levels that Ethereum price can see
According to the analyst, there is also a valuable ascending channel formed with a support close to $ 1,710 on the one-to-one chart. If there is a downside break below the channel reinforcement, the price could indeed drop to the $1,650 support zone. On the upside, the price is clearly facing a major resistance near the $1,760 and $1,770 levels. A viable break above $1,770 could trigger a rally. The next key resistance is near the $1,880 level.
Ethereum price could correct lower if it fails to clear the $1,760 and $1,770 resistance levels. On the downside, the first major support is near the $1,660 level. The next major anchor is near the $1,635 level and the 100 hourly easy moving average. The 50% Fib retracement level of the recent rally is near the $1,635 level to provide reinforcements in the near term.
Current view of Ethereum price with technical indicators
Hourly MACD: The MACD for ETH/USD is slowly losing momentum in the bullish zone.
Hourly RSI: The RSI for ETH/USD is still well above the 50 level.
Main Booster Level: $1,650.
Main Resistance Level: $1,770.
Here are the successful predictions of Aayush Jindal
Kriptokoin.com , as we previously reported, successful analyst Aayush Jindal, Bitcoin, Ethereum, Ripple , Chanlink and many altcoins are a name that has successfully done technical analysis. Aayush Jindal has a history of successfully setting critical levels for many cryptocurrencies. The master analyst also correctly predicted the fall of BTC up to $ 28,500 a short time ago.