{"id":12930,"date":"2022-11-29T05:55:09","date_gmt":"2022-11-29T09:55:09","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=12930"},"modified":"2022-11-29T05:55:09","modified_gmt":"2022-11-29T09:55:09","slug":"ethereum-price-key-indicators-point-firming-case-for-recovery-above-1250","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/29\/ethereum-price-key-indicators-point-firming-case-for-recovery-above-1250\/","title":{"rendered":"Ethereum Price Key Indicators Point Firming Case For Recovery Above $1,250"},"content":{"rendered":"

Ethereum is holding the key $1,150 support against the US Dollar. ETH is rising and might even clear the $1,250 resistance zone in the near term.<\/em><\/p>\n

Ethereum corrected lower, but the bulls were active near $1,150.
\nThe price is now trading above $1,180 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,195 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise steadily if it clears the $1,200 and $1,230 resistance levels.<\/p>\n

Ethereum Price Eyes Fresh Increase<\/h2>\n

Ethereum price started a downside correction from the $1,230 resistance. ETH declined below the $1,200 support zone and the 100 hourly simple moving average, similar to bitcoin<\/a>.<\/p>\n

However, the bulls were active near the $1,150 zone. A low was formed near $1,150 and the price started another decent increase. Ether price was able to clear the $1,165 and $1,180 resistance levels. There was a clear move above the 23.6% Fib retracement level of the recent decline from the $1,236 swing high to $1,150 low.<\/p>\n

Ether price is now trading above $1,180 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,195 level.<\/p>\n

There is also a key bearish trend line forming with resistance near $1,195 on the hourly chart of ETH\/USD. The trend line is near the 50% Fib retracement level of the recent decline from the $1,236 swing high to $1,150 low. The next major resistance is near the $1,230 level.<\/p>\n

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

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

The main breakout zone is near the $1,250 level<\/a>. To start a strong increase, the price must settle above the $1,250 resistance. In the stated case, ether price could rise towards the $1,320 resistance zone. Any more gains might send the price towards the $1,420 resistance zone.<\/p>\n

Fresh drop 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.<\/p>\n

The next major support is near the $1,150 level. If there is a break below $1,150, the price could even decline below $1,130. In the stated scenario, the price could drop towards the $1,075 support zone.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining 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 $1,150<\/p>\n

Major Resistance Level \u2013 $1,230<\/p>\n

Featured image from iStock<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum is holding the key $1,150 support against the US Dollar. ETH is rising and might even clear the $1,250 resistance zone in the near term.<\/em><\/p>\n

Ethereum corrected lower, but the bulls were active near $1,150.
\nThe price is now trading above $1,180 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,195 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise steadily if it clears the $1,200 and $1,230 resistance levels.<\/p>\n

Ethereum Price Eyes Fresh Increase<\/h2>\n

Ethereum price started a downside correction from the $1,230 resistance. ETH declined below the $1,200 support zone and the 100 hourly simple moving average, similar to bitcoin<\/a>.<\/p>\n

However, the bulls were active near the $1,150 zone. A low was formed near $1,150 and the price started another decent increase. Ether price was able to clear the $1,165 and $1,180 resistance levels. There was a clear move above the 23.6% Fib retracement level of the recent decline from the $1,236 swing high to $1,150 low.<\/p>\n

Ether price is now trading above $1,180 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,195 level.<\/p>\n

There is also a key bearish trend line forming with resistance near $1,195 on the hourly chart of ETH\/USD. The trend line is near the 50% Fib retracement level of the recent decline from the $1,236 swing high to $1,150 low. The next major resistance is near the $1,230 level.<\/p>\n

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

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

The main breakout zone is near the $1,250 level<\/a>. To start a strong increase, the price must settle above the $1,250 resistance. In the stated case, ether price could rise towards the $1,320 resistance zone. Any more gains might send the price towards the $1,420 resistance zone.<\/p>\n

Fresh drop 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.<\/p>\n

The next major support is near the $1,150 level. If there is a break below $1,150, the price could even decline below $1,130. In the stated scenario, the price could drop towards the $1,075 support zone.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining 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 $1,150<\/p>\n

Major Resistance Level \u2013 $1,230<\/p>\n

Featured image from iStock<\/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-12930","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\/12930","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=12930"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/12930\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=12930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=12930"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=12930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}