{"id":12071,"date":"2022-11-16T07:07:19","date_gmt":"2022-11-16T11:07:19","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=12071"},"modified":"2022-11-16T07:07:19","modified_gmt":"2022-11-16T11:07:19","slug":"ethereum-price-consolidates-eth-indicators-suggest-upside-break","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/16\/ethereum-price-consolidates-eth-indicators-suggest-upside-break\/","title":{"rendered":"Ethereum Price Consolidates, ETH Indicators Suggest Upside Break"},"content":{"rendered":"

Ethereum started a recovery wave above the $1,240 level against the US Dollar. ETH could gain bullish momentum once it clears the $1,280 and $1,300 resistance levels.<\/em><\/p>\n

Ethereum started a recovery wave above the $1,220 and $1,240 levels.
\nThe price is now trading near $1,260 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,275 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must settle above the $1,300 resistance to start a decent increase in the near term.<\/p>\n

Ethereum Price Remains In Range<\/h2>\n

Ethereum remained well bid above the $1,170 level, similar to bitcoin<\/a>. ETH started a steady recovery wave above the $1,200 resistance zone.<\/p>\n

The price was able to clear the 50% Fib retracement level of the downward move from the $1,348 swing high to $1,170 low. There was also a spike above the $1,250 resistance zone. However, the price failed to gain strength above the $1,280 level. Ether price is now trading near $1,260 and the 100 hourly simple moving average<\/a>.<\/p>\n

An immediate resistance on the upside is near the $1,275 level. There is also a key bearish trend line forming with resistance near $1,275 on the hourly chart of ETH\/USD.<\/p>\n

The trend line is near the 61.8% Fib retracement level of the downward move from the $1,348 swing high to $1,170 low. The next major resistance is near the $1,300 level. A clear break above the $1,300 resistance could set the pace for a decent recovery wave.<\/p>\n

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

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

In the stated case, the price could rise towards the $1,350 level. Any more gains might send the price toward the $1,400 resistance zone.<\/p>\n

Fresh Decline in ETH?<\/h2>\n

If ethereum fails to climb above the $1,300 resistance, it could start another decline. An initial support on the downside is near the $1,225 level.<\/p>\n

The next major support is near the $1,200 level, below which ether price may perhaps revisit the $1,170 support zone. If the bulls fail to protect the $1,170 support, there is a risk of a major decline. In the stated scenario, the price could decline towards the $1,100 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 above the 50 level.<\/p>\n

Major Support Level \u2013 $1,170<\/p>\n

Major Resistance Level \u2013 $1,300<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum started a recovery wave above the $1,240 level against the US Dollar. ETH could gain bullish momentum once it clears the $1,280 and $1,300 resistance levels.<\/em><\/p>\n

Ethereum started a recovery wave above the $1,220 and $1,240 levels.
\nThe price is now trading near $1,260 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,275 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must settle above the $1,300 resistance to start a decent increase in the near term.<\/p>\n

Ethereum Price Remains In Range<\/h2>\n

Ethereum remained well bid above the $1,170 level, similar to bitcoin<\/a>. ETH started a steady recovery wave above the $1,200 resistance zone.<\/p>\n

The price was able to clear the 50% Fib retracement level of the downward move from the $1,348 swing high to $1,170 low. There was also a spike above the $1,250 resistance zone. However, the price failed to gain strength above the $1,280 level. Ether price is now trading near $1,260 and the 100 hourly simple moving average<\/a>.<\/p>\n

An immediate resistance on the upside is near the $1,275 level. There is also a key bearish trend line forming with resistance near $1,275 on the hourly chart of ETH\/USD.<\/p>\n

The trend line is near the 61.8% Fib retracement level of the downward move from the $1,348 swing high to $1,170 low. The next major resistance is near the $1,300 level. A clear break above the $1,300 resistance could set the pace for a decent recovery wave.<\/p>\n

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

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

In the stated case, the price could rise towards the $1,350 level. Any more gains might send the price toward the $1,400 resistance zone.<\/p>\n

Fresh Decline in ETH?<\/h2>\n

If ethereum fails to climb above the $1,300 resistance, it could start another decline. An initial support on the downside is near the $1,225 level.<\/p>\n

The next major support is near the $1,200 level, below which ether price may perhaps revisit the $1,170 support zone. If the bulls fail to protect the $1,170 support, there is a risk of a major decline. In the stated scenario, the price could decline towards the $1,100 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 above the 50 level.<\/p>\n

Major Support Level \u2013 $1,170<\/p>\n

Major Resistance Level \u2013 $1,300<\/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-12071","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\/12071","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=12071"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/12071\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=12071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=12071"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=12071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}