{"id":13018,"date":"2022-11-30T05:52:47","date_gmt":"2022-11-30T09:52:47","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=13018"},"modified":"2022-11-30T05:52:47","modified_gmt":"2022-11-30T09:52:47","slug":"ethereum-price-offers-trade-opportunities-after-recent-bullish-breakout","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/30\/ethereum-price-offers-trade-opportunities-after-recent-bullish-breakout\/","title":{"rendered":"Ethereum Price Offers Trade Opportunities After Recent Bullish Breakout"},"content":{"rendered":"

Ethereum managed to clear the $1,230 resistance zone against the US Dollar. ETH tested $1,280 and seems to be forming a strong support near $1,230.<\/em><\/p>\n

Ethereum gained bullish momentum and cleared the $1,230 resistance zone.
\nThe price is now trading above $1,230 and the 100 hourly simple moving average.
\nThere is a short-term bullish trend line forming with support near $1,230 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it stays above the $1,230 and $1,200 support levels.<\/p>\n

Ethereum Price Rallies Above Resistance<\/h2>\n

Ethereum price remained well bid above the $1,150 support zone. ETH formed a base and started a fresh increase above the $1,200 resistance, similar to bitcoin<\/a>.<\/p>\n

The price cleared the key resistance near the $1,230 and $1,250 levels<\/a>. The upward move was such that the price traded as high as $1,280. It is now consolidating gains near the $1,265 level. Ether price is also trading above $1,230 and the 100 hourly simple moving average.<\/p>\n

The bulls are currently active above the 23.6% Fib retracement level of the recent increase from the $1,150 swing low to $1,280 high. There is also a short-term bullish trend line forming with support near $1,230 on the hourly chart of ETH\/USD.<\/p>\n

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

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

An immediate resistance on the upside is near the $1,280 level. The first major resistance is near the $1,300 level. The next major resistance is near the $1,330 level, above which ether price might start another bullish wave. In the stated case, the price could rise towards the $1,380 resistance zone. Any more gains might send the price towards the $1,420 resistance zone.<\/p>\n

Dips Supported in ETH?<\/h2>\n

If ethereum fails to climb above the $1,280 resistance, it could start a downside correction. An initial support on the downside is near the $1,250 level.<\/p>\n

The next major support is near the $1,230 level and the highlighted trend line. If there is a break below $1,230, the price could test the $1,200 support, where the bulls could emerge. Any more losses may perhaps start another decline towards the $1,150 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 $1,230<\/p>\n

Major Resistance Level \u2013 $1,280<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum managed to clear the $1,230 resistance zone against the US Dollar. ETH tested $1,280 and seems to be forming a strong support near $1,230.<\/em><\/p>\n

Ethereum gained bullish momentum and cleared the $1,230 resistance zone.
\nThe price is now trading above $1,230 and the 100 hourly simple moving average.
\nThere is a short-term bullish trend line forming with support near $1,230 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it stays above the $1,230 and $1,200 support levels.<\/p>\n

Ethereum Price Rallies Above Resistance<\/h2>\n

Ethereum price remained well bid above the $1,150 support zone. ETH formed a base and started a fresh increase above the $1,200 resistance, similar to bitcoin<\/a>.<\/p>\n

The price cleared the key resistance near the $1,230 and $1,250 levels<\/a>. The upward move was such that the price traded as high as $1,280. It is now consolidating gains near the $1,265 level. Ether price is also trading above $1,230 and the 100 hourly simple moving average.<\/p>\n

The bulls are currently active above the 23.6% Fib retracement level of the recent increase from the $1,150 swing low to $1,280 high. There is also a short-term bullish trend line forming with support near $1,230 on the hourly chart of ETH\/USD.<\/p>\n

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

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

An immediate resistance on the upside is near the $1,280 level. The first major resistance is near the $1,300 level. The next major resistance is near the $1,330 level, above which ether price might start another bullish wave. In the stated case, the price could rise towards the $1,380 resistance zone. Any more gains might send the price towards the $1,420 resistance zone.<\/p>\n

Dips Supported in ETH?<\/h2>\n

If ethereum fails to climb above the $1,280 resistance, it could start a downside correction. An initial support on the downside is near the $1,250 level.<\/p>\n

The next major support is near the $1,230 level and the highlighted trend line. If there is a break below $1,230, the price could test the $1,200 support, where the bulls could emerge. Any more losses may perhaps start another decline towards the $1,150 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 $1,230<\/p>\n

Major Resistance Level \u2013 $1,280<\/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-13018","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\/13018","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=13018"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/13018\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=13018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=13018"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=13018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}