{"id":12721,"date":"2022-11-25T04:53:12","date_gmt":"2022-11-25T08:53:12","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=12721"},"modified":"2022-11-25T04:53:12","modified_gmt":"2022-11-25T08:53:12","slug":"ethereum-price-recovery-could-soon-fade-if-eth-fails-to-surpass-1250","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/25\/ethereum-price-recovery-could-soon-fade-if-eth-fails-to-surpass-1250\/","title":{"rendered":"Ethereum Price Recovery Could Soon Fade If ETH Fails To Surpass $1,250"},"content":{"rendered":"

Ethereum started a decent recovery wave above $1,180 against the US Dollar. ETH could start a fresh decline if it stays below the $1,250 resistance.<\/em><\/p>\n

Ethereum struggled to gain pace for a move above the $1,230 resistance level.
\nThe price is now trading above $1,170 and the 100 hourly simple moving average.
\nThere is a short-term bullish flag forming with resistance near $1,200 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh decline if there is no clear move above $1,230 and $1,250.<\/p>\n

Ethereum Price Faces Rejection<\/h2>\n

Ethereum price started a recovery wave above the $1,150 resistance, similar to bitcoin<\/a>. ETH even climbed above the $1,200 resistance and settled above the 100 hourly simple moving average.<\/p>\n

However, there was no test of the $1,230 resistance zone<\/a>. Ether price traded as high as $1,215 and is currently correcting gains. There was a minor decline below the $1,200 level. It is now approaching the 23.6% Fib retracement level of the upward move from the $1,073 swing low to $1,215 high.<\/p>\n

It is now trading above $1,170 and the 100 hourly simple moving average. There is also a short-term bullish flag forming with resistance near $1,200 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $1,200 level and the channel trend line.<\/p>\n

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

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

The next major resistance is near the $1,230 level. The key breakout zone sits near the $1,250 level. To move into a positive zone, the price must settle above $1,250. In the stated case, ether price may perhaps rise towards the $1,320 resistance zone. Any more gains might open the doors for a test of the $1,400 resistance zone.<\/p>\n

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

If ethereum fails to climb above the $1,230 resistance, it could start another decline. An initial support on the downside is near the $1,170 level and the 100 hourly simple moving average.<\/p>\n

The next major support is near the $1,150 level or the 50% Fib retracement level of the upward move from the $1,073 swing low to $1,215 high, below which ether price may perhaps gain bearish momentum. In the stated scenario, the price could decline towards the $1,070 support zone.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,150<\/p>\n

Major Resistance Level \u2013 $1,230<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum started a decent recovery wave above $1,180 against the US Dollar. ETH could start a fresh decline if it stays below the $1,250 resistance.<\/em><\/p>\n

Ethereum struggled to gain pace for a move above the $1,230 resistance level.
\nThe price is now trading above $1,170 and the 100 hourly simple moving average.
\nThere is a short-term bullish flag forming with resistance near $1,200 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh decline if there is no clear move above $1,230 and $1,250.<\/p>\n

Ethereum Price Faces Rejection<\/h2>\n

Ethereum price started a recovery wave above the $1,150 resistance, similar to bitcoin<\/a>. ETH even climbed above the $1,200 resistance and settled above the 100 hourly simple moving average.<\/p>\n

However, there was no test of the $1,230 resistance zone<\/a>. Ether price traded as high as $1,215 and is currently correcting gains. There was a minor decline below the $1,200 level. It is now approaching the 23.6% Fib retracement level of the upward move from the $1,073 swing low to $1,215 high.<\/p>\n

It is now trading above $1,170 and the 100 hourly simple moving average. There is also a short-term bullish flag forming with resistance near $1,200 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $1,200 level and the channel trend line.<\/p>\n

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

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

The next major resistance is near the $1,230 level. The key breakout zone sits near the $1,250 level. To move into a positive zone, the price must settle above $1,250. In the stated case, ether price may perhaps rise towards the $1,320 resistance zone. Any more gains might open the doors for a test of the $1,400 resistance zone.<\/p>\n

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

If ethereum fails to climb above the $1,230 resistance, it could start another decline. An initial support on the downside is near the $1,170 level and the 100 hourly simple moving average.<\/p>\n

The next major support is near the $1,150 level or the 50% Fib retracement level of the upward move from the $1,073 swing low to $1,215 high, below which ether price may perhaps gain bearish momentum. In the stated scenario, the price could decline towards the $1,070 support zone.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,150<\/p>\n

Major Resistance Level \u2013 $1,230<\/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-12721","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\/12721","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=12721"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/12721\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=12721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=12721"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=12721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}