{"id":10490,"date":"2022-10-25T05:53:53","date_gmt":"2022-10-25T09:53:53","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=10490"},"modified":"2022-10-25T05:53:53","modified_gmt":"2022-10-25T09:53:53","slug":"ethereum-price-bulls-keeps-pushing-why-rally-is-round-the-corner","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/10\/25\/ethereum-price-bulls-keeps-pushing-why-rally-is-round-the-corner\/","title":{"rendered":"Ethereum Price Bulls Keeps Pushing, Why Rally Is Round The Corner"},"content":{"rendered":"

Ethereum is consolidating gains above the $1,300 zone against the US Dollar. ETH could gain pace if there is a clear move above the $1,370 zone.<\/em><\/p>\n

Ethereum is showing positive signs above the $1,320 and $1,330 levels.
\nThe price is now trading above $1,320 and the 100 hourly simple moving average.
\nThere is a key contracting triangle forming with resistance near $1,350 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rally if there is a clear move above $1,350 and $1,370.<\/p>\n

Ethereum Price Remains Supported<\/h2>\n

Ethereum gained pace after it broke the $1,300 and $1,320 resistance levels<\/a>. ETH even cleared the $1,350 level and settled above the 100 hourly simple moving average.<\/p>\n

However, the price failed to clear the $1,370 level. A high was formed near $1,370 before there was a downside correction. There was a move below the $1,350 level. Ether price declined below the 23.6% Fib retracement level of the upward wave from the $1,250 swing zone to $1,370 high.<\/p>\n

It is now trading above $1,320 and the 100 hourly simple moving average<\/a>. There is also a key contracting triangle forming with resistance near $1,350 on the hourly chart of ETH\/USD.<\/p>\n

<\/a><\/p>\n

Source: ETHUSD on TradingView.com<\/a><\/p>\n

An immediate resistance on the upside is near the $1,350 level and the triangle trend line. The first major resistance is near the $1,365 and $1,370 levels. The main barrier is still near the $1,400 zone. A clear upside break above the $1,400 resistance zone could open the doors for a strong increase. In the stated case, the price might climb towards the $1,500 level.<\/p>\n

Dips Supported in ETH?<\/h2>\n

If ethereum fails to climb above the $1,350 resistance, it could continue to move down. An initial support on the downside is near the $1,320 level.<\/p>\n

The next major support is near the $1,310 level and the $1,300 zone. It is near the 50% Fib retracement level of the upward wave from the $1,250 swing zone to $1,370 high. A downside break below the $1,300 zone might start a fresh decline to $1,270 in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n

Major Support Level \u2013 $1,320<\/p>\n

Major Resistance Level \u2013 $1,370<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum is consolidating gains above the $1,300 zone against the US Dollar. ETH could gain pace if there is a clear move above the $1,370 zone.<\/em><\/p>\n

Ethereum is showing positive signs above the $1,320 and $1,330 levels.
\nThe price is now trading above $1,320 and the 100 hourly simple moving average.
\nThere is a key contracting triangle forming with resistance near $1,350 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rally if there is a clear move above $1,350 and $1,370.<\/p>\n

Ethereum Price Remains Supported<\/h2>\n

Ethereum gained pace after it broke the $1,300 and $1,320 resistance levels<\/a>. ETH even cleared the $1,350 level and settled above the 100 hourly simple moving average.<\/p>\n

However, the price failed to clear the $1,370 level. A high was formed near $1,370 before there was a downside correction. There was a move below the $1,350 level. Ether price declined below the 23.6% Fib retracement level of the upward wave from the $1,250 swing zone to $1,370 high.<\/p>\n

It is now trading above $1,320 and the 100 hourly simple moving average<\/a>. There is also a key contracting triangle forming with resistance near $1,350 on the hourly chart of ETH\/USD.<\/p>\n

<\/a><\/p>\n

Source: ETHUSD on TradingView.com<\/a><\/p>\n

An immediate resistance on the upside is near the $1,350 level and the triangle trend line. The first major resistance is near the $1,365 and $1,370 levels. The main barrier is still near the $1,400 zone. A clear upside break above the $1,400 resistance zone could open the doors for a strong increase. In the stated case, the price might climb towards the $1,500 level.<\/p>\n

Dips Supported in ETH?<\/h2>\n

If ethereum fails to climb above the $1,350 resistance, it could continue to move down. An initial support on the downside is near the $1,320 level.<\/p>\n

The next major support is near the $1,310 level and the $1,300 zone. It is near the 50% Fib retracement level of the upward wave from the $1,250 swing zone to $1,370 high. A downside break below the $1,300 zone might start a fresh decline to $1,270 in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n

Major Support Level \u2013 $1,320<\/p>\n

Major Resistance Level \u2013 $1,370<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-10490","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/10490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=10490"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/10490\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=10490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=10490"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=10490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}