Ethereum Price Lacks Momentum Above $1,660, ETH Holders Are Safe: Here’s Why

Sep 20, 2023 04:00 am Cryptocurrency 97

Ethereum price is still struggling to gain pace above $1,670 and $1,680 against the US Dollar. ETH must stay above $1,620 to start another increase.

Ethereum struggled to clear the $1,660 resistance.

The price is trading above $1,635 and the 100-hourly Simple Moving Average.

There is a key contracting triangle forming with resistance near $1,650 on the hourly chart of ETH/USD (data feed via Kraken).

The pair must stay above the $1,620 support zone to start another increase in the short term.

Ethereum Price Faces Key Hurdle

Ethereum’s price remained well-supported above the $1,620 zone. ETH again climbed above the $1,650 resistance but struggled to clear $1,660, unlike Bitcoin.

The price made two attempts to gain strength above $1,660 but failed. A high was formed near $1,660 and the price started a downside correction. There was a move below the $1,650 level. The pr ..

Support the originator by clicking the read the rest link below.