{"id":11765,"date":"2022-11-11T04:53:33","date_gmt":"2022-11-11T08:53:33","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=11765"},"modified":"2022-11-11T04:53:33","modified_gmt":"2022-11-11T08:53:33","slug":"ethereum-price-consolidates-losses-why-100-sma-could-trigger-rally","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/11\/ethereum-price-consolidates-losses-why-100-sma-could-trigger-rally\/","title":{"rendered":"Ethereum Price Consolidates Losses, Why 100 SMA Could Trigger Rally"},"content":{"rendered":"

Ethereum started a recovery wave above the $1,200 level against the US Dollar. ETH must clear $1,320 and the 100 hourly SMA to start a sustained upward move.<\/em><\/p>\n

Ethereum started a recovery wave above the $1,200 and $1,220 levels.
\nThe price is now trading below $1,300 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $1,210 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair is now struggling to clear the $1,320 resistance and the 100 hourly simple moving average.<\/p>\n

Ethereum Price Faces Key Resistance<\/h2>\n

Ethereum declined heavily below the $1,320 support zone, similar to bitcoin<\/a>. ETH even traded below the $1,200 support level and settled below the 100 hourly simple moving average.<\/p>\n

It even spiked below $1,100 and traded as low as $1,070. Recently, there was an upside correction above the $1,120 and $1,150 levels. Ether price climbed above the 23.6% Fib retracement level of the key decline from the $1,580 swing high to $1,070 low.<\/p>\n

Besides, there was a break above a major bearish trend line<\/a> with resistance near $1,210 on the hourly chart of ETH\/USD. The pair even spiked above the $1,300 resistance.<\/p>\n

However, the bears defended the $1,320 resistance and the 100 hourly simple moving average. The price also failed near the 50% Fib retracement level of the key decline from the $1,580 swing high to $1,070 low. An immediate resistance on the upside is near the $1,280 level.<\/p>\n

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

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

The next major resistance is near the $1,320 level and the 100 hourly simple moving average. A clear break above the $1,320 resistance could set the pace for a decent increase. In the stated case, the price could rise to the $1,400 level. Any more gains might send the price toward the $1,500 resistance zone.<\/p>\n

More Losses in ETH?<\/h2>\n

If ethereum fails to climb above the $1,320 resistance, it could continue to move down. An initial support on the downside is near the $1,200 level.<\/p>\n

The next major support is near the $1,190 level, below which ether price may perhaps accelerate lower. In the stated scenario, the price could decline towards the $1,070 support zone 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 below the 50 level.<\/p>\n

Major Support Level \u2013 $1,190<\/p>\n

Major Resistance Level \u2013 $1,320<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum started a recovery wave above the $1,200 level against the US Dollar. ETH must clear $1,320 and the 100 hourly SMA to start a sustained upward move.<\/em><\/p>\n

Ethereum started a recovery wave above the $1,200 and $1,220 levels.
\nThe price is now trading below $1,300 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $1,210 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair is now struggling to clear the $1,320 resistance and the 100 hourly simple moving average.<\/p>\n

Ethereum Price Faces Key Resistance<\/h2>\n

Ethereum declined heavily below the $1,320 support zone, similar to bitcoin<\/a>. ETH even traded below the $1,200 support level and settled below the 100 hourly simple moving average.<\/p>\n

It even spiked below $1,100 and traded as low as $1,070. Recently, there was an upside correction above the $1,120 and $1,150 levels. Ether price climbed above the 23.6% Fib retracement level of the key decline from the $1,580 swing high to $1,070 low.<\/p>\n

Besides, there was a break above a major bearish trend line<\/a> with resistance near $1,210 on the hourly chart of ETH\/USD. The pair even spiked above the $1,300 resistance.<\/p>\n

However, the bears defended the $1,320 resistance and the 100 hourly simple moving average. The price also failed near the 50% Fib retracement level of the key decline from the $1,580 swing high to $1,070 low. An immediate resistance on the upside is near the $1,280 level.<\/p>\n

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

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

The next major resistance is near the $1,320 level and the 100 hourly simple moving average. A clear break above the $1,320 resistance could set the pace for a decent increase. In the stated case, the price could rise to the $1,400 level. Any more gains might send the price toward the $1,500 resistance zone.<\/p>\n

More Losses in ETH?<\/h2>\n

If ethereum fails to climb above the $1,320 resistance, it could continue to move down. An initial support on the downside is near the $1,200 level.<\/p>\n

The next major support is near the $1,190 level, below which ether price may perhaps accelerate lower. In the stated scenario, the price could decline towards the $1,070 support zone 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 below the 50 level.<\/p>\n

Major Support Level \u2013 $1,190<\/p>\n

Major Resistance Level \u2013 $1,320<\/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-11765","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\/11765","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=11765"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/11765\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=11765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=11765"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=11765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}