The price faces the resistance of $1,645
The price of Ethereum has risen above $1,620. However, the price faces the resistance of $1,645.
If the price surpasses this level, the first significant resistance zone will be near $1,670, followed by the $1,700 area. If the price breaks above the $1,700 resistance zone, it could steadily increase toward the $1,800 level, and any further gains could lead to a move toward the $1,880 level.
On the other hand, if Ethereum fails to clear the $1,670 resistance, it could trigger a downside correction. The first support level on the downside is near $1,620, followed by the next major support near the $1,585 zone. If the price falls below $1,596, it might drop toward the $1,569 support, and any further losses could lead to a test of the $1,500 level.
If the price surpasses this level, the first significant resistance zone will be near $1,670, followed by the $1,700 area. If the price breaks above the $1,700 resistance zone, it could steadily increase toward the $1,800 level, and any further gains could lead to a move toward the $1,880 level.
On the other hand, if Ethereum fails to clear the $1,670 resistance, it could trigger a downside correction. The first support level on the downside is near $1,620, followed by the next major support near the $1,585 zone. If the price falls below $1,596, it might drop toward the $1,569 support, and any further losses could lead to a test of the $1,500 level.
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The $1,660 zone marks the initial major resistance level for Ethereum, followed by the $1,670 zone. Should Ethereum close above the $1,670 resistance, it may steadily increase toward the $1,740 level.
Further gains could lead to a potential rise toward the $1,800 level.
However, if Ethereum fails to surpass the $1,660 resistance level, it may continue trending downward.
The first level of support lies near the $1,610 range, followed by a significant support level near $1,600 or the 61.8% Fibonacci retracement level of the upward movement from the $1,558 swing low to the $1,665 high.
If prices drop below $1,600, it may increase bearish momentum and a potential test of the $1,565 support level. Any additional losses could indicate a test of the $1,500 level.