NewsBTC13 minutes ago

Published on August 25, 2023 04:06 GMT+00:00edited on August 25, 2023 04:09 GMT+00:00

Ethereum price is struggling to rise above $1,700 against the US Dollar. ETH whales seem to accumulate, and the $1,620 support could be the key.

• Ethereum is struggling to rise above the $1,680 and $1,700 levels.
• The price is trading below $1,670 and the 100-hourly Simple Moving Average.
• There is a connecting bearish trend line forming with resistance near $1,665 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a decent increase above the $1,670 and $1,700 resistance levels.

Ethereum Price Holds Support

Ethereum’s price started a short-term upside correction above the $1,650 level. ETH even climbed above the $1,670 level but the bears were active near the $1,700 zone, like Bitcoin.

The price traded as high as $1,698 and is currently moving lower. …