{"id":12252,"date":"2022-11-18T05:54:38","date_gmt":"2022-11-18T09:54:38","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=12252"},"modified":"2022-11-18T05:54:38","modified_gmt":"2022-11-18T09:54:38","slug":"ethereum-price-recovery-could-soon-fade-if-eth-fails-to-surpass-1300","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/18\/ethereum-price-recovery-could-soon-fade-if-eth-fails-to-surpass-1300\/","title":{"rendered":"Ethereum Price Recovery Could Soon Fade If ETH Fails To Surpass $1,300"},"content":{"rendered":"

Ethereum is consolidating losses above the $1,200 support against the US Dollar. ETH could start a steady increase if there is a clear move above the $1,300 resistance.<\/em><\/p>\n

Ethereum is facing resistance near the $1,240 and $1,250 levels.
\nThe price is now trading below $1,240 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,240 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if there is a clear move above $1,240 and $1,300.<\/p>\n

Ethereum Price Consolidates<\/h2>\n

Ethereum price declined from the $1,300 resistance zone but it remained well supported near $1,200, similar to bitcoin<\/a>. ETH formed a base and recently started a fresh increase above $1,210.<\/p>\n

There was a steady increase above the $1,220 level. The price cleared the 23.6% Fib retracement level of the downward move from the $1,290 swing high to $1,184 low. However, ether price is facing resistance near the $1,240 zone.<\/p>\n

It is trading below $1,240 and the 100 hourly simple moving average<\/a>. There is also a key bearish trend line forming with resistance near $1,240 on the hourly chart of ETH\/USD.<\/p>\n

The trend line is near the 50% Fib retracement level of the downward move from the $1,290 swing high to $1,184 low. An immediate resistance on the upside is near the $1,240 level. The next major resistance is near the $1,250 level.<\/p>\n

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

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

A clear break above the $1,250 resistance could send the price towards the $1,300 resistance zone. If the bulls remain in action and the price settles above $1,300, the price could start a steady increase towards the $1,400 level in the coming sessions.<\/p>\n

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

If ethereum fails to climb above the $1,250 resistance, it could start another decline. An initial support on the downside is near the $1,200 level.<\/p>\n

The next major support is near the $1,170 level, below which ether price may perhaps gain bearish momentum. In the stated scenario, the price could drop towards the $1,100 support zone in the near term. The next major support sits near the $1,000 zone.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bearish 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 $1,250<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum is consolidating losses above the $1,200 support against the US Dollar. ETH could start a steady increase if there is a clear move above the $1,300 resistance.<\/em><\/p>\n

Ethereum is facing resistance near the $1,240 and $1,250 levels.
\nThe price is now trading below $1,240 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,240 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if there is a clear move above $1,240 and $1,300.<\/p>\n

Ethereum Price Consolidates<\/h2>\n

Ethereum price declined from the $1,300 resistance zone but it remained well supported near $1,200, similar to bitcoin<\/a>. ETH formed a base and recently started a fresh increase above $1,210.<\/p>\n

There was a steady increase above the $1,220 level. The price cleared the 23.6% Fib retracement level of the downward move from the $1,290 swing high to $1,184 low. However, ether price is facing resistance near the $1,240 zone.<\/p>\n

It is trading below $1,240 and the 100 hourly simple moving average<\/a>. There is also a key bearish trend line forming with resistance near $1,240 on the hourly chart of ETH\/USD.<\/p>\n

The trend line is near the 50% Fib retracement level of the downward move from the $1,290 swing high to $1,184 low. An immediate resistance on the upside is near the $1,240 level. The next major resistance is near the $1,250 level.<\/p>\n

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

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

A clear break above the $1,250 resistance could send the price towards the $1,300 resistance zone. If the bulls remain in action and the price settles above $1,300, the price could start a steady increase towards the $1,400 level in the coming sessions.<\/p>\n

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

If ethereum fails to climb above the $1,250 resistance, it could start another decline. An initial support on the downside is near the $1,200 level.<\/p>\n

The next major support is near the $1,170 level, below which ether price may perhaps gain bearish momentum. In the stated scenario, the price could drop towards the $1,100 support zone in the near term. The next major support sits near the $1,000 zone.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bearish 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 $1,250<\/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-12252","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\/12252","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=12252"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/12252\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=12252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=12252"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=12252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}