{"id":13099,"date":"2022-12-01T04:59:59","date_gmt":"2022-12-01T08:59:59","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=13099"},"modified":"2022-12-01T04:59:59","modified_gmt":"2022-12-01T08:59:59","slug":"ethereum-price-gearing-for-lift-off-to-1400-key-support-in-place","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/01\/ethereum-price-gearing-for-lift-off-to-1400-key-support-in-place\/","title":{"rendered":"Ethereum Price Gearing For Lift-Off to $1,400, Key Support In Place"},"content":{"rendered":"

Ethereum gained pace above the $1,250 resistance zone against the US Dollar. ETH even spiked above $1,300 and is currently correcting gains.<\/em><\/p>\n

Ethereum remained well supported and even cleared the $1,280 resistance zone.
\nThe price is now trading above $1,250 and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $1,280 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it stays above the $1,250 and $1,230 support levels.<\/p>\n

Ethereum Price Gains Bullish Momentum<\/h2>\n

Ethereum price formed a base above the $1,230 level and extended its recovery wave. ETH was able to climb above the $1,250 and $1,280 resistance levels, similar to bitcoin<\/a>.<\/p>\n

The bulls even pushed the price above the $1,300 resistance zone<\/a>. A new multi-week high is formed near $1,309 and the price is now correcting gains. There was a minor decline below the $1,295 level. The price declined below the 23.6% Fib retracement level of the recent wave from the $1,255 swing low to $1,309 high.<\/p>\n

Ether price is now trading above $1,250 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $1,275 on the hourly chart of ETH\/USD.<\/p>\n

An immediate resistance on the upside is near the $1,300 level. The first major resistance is near the $1,320 level. A clear move above the $1,320 resistance might send the price further higher. The next major resistance is near the $1,380 level, above which ether price might even clear $1,400.<\/p>\n

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

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

In the stated case, the price could rise towards the $1,450 resistance zone. Any more gains might send the price towards the $1,500 resistance zone.<\/p>\n

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

If ethereum fails to continue higher above the $1,300 resistance, it could start a downside correction. An initial support on the downside is near the $1,280 level and the trend line.<\/p>\n

The next major support is near the $1,275 level or the 61.8% Fib retracement level of the recent wave from the $1,255 swing low to $1,309 high. If there is a break below $1,275, the price could test the $1,250 support. Any more losses may perhaps start another decline towards the $1,225 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 $1,275<\/p>\n

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

<\/p>\n

Ethereum gained pace above the $1,250 resistance zone against the US Dollar. ETH even spiked above $1,300 and is currently correcting gains.<\/em><\/p>\n

Ethereum remained well supported and even cleared the $1,280 resistance zone.
\nThe price is now trading above $1,250 and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $1,280 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it stays above the $1,250 and $1,230 support levels.<\/p>\n

Ethereum Price Gains Bullish Momentum<\/h2>\n

Ethereum price formed a base above the $1,230 level and extended its recovery wave. ETH was able to climb above the $1,250 and $1,280 resistance levels, similar to bitcoin<\/a>.<\/p>\n

The bulls even pushed the price above the $1,300 resistance zone<\/a>. A new multi-week high is formed near $1,309 and the price is now correcting gains. There was a minor decline below the $1,295 level. The price declined below the 23.6% Fib retracement level of the recent wave from the $1,255 swing low to $1,309 high.<\/p>\n

Ether price is now trading above $1,250 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $1,275 on the hourly chart of ETH\/USD.<\/p>\n

An immediate resistance on the upside is near the $1,300 level. The first major resistance is near the $1,320 level. A clear move above the $1,320 resistance might send the price further higher. The next major resistance is near the $1,380 level, above which ether price might even clear $1,400.<\/p>\n

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

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

In the stated case, the price could rise towards the $1,450 resistance zone. Any more gains might send the price towards the $1,500 resistance zone.<\/p>\n

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

If ethereum fails to continue higher above the $1,300 resistance, it could start a downside correction. An initial support on the downside is near the $1,280 level and the trend line.<\/p>\n

The next major support is near the $1,275 level or the 61.8% Fib retracement level of the recent wave from the $1,255 swing low to $1,309 high. If there is a break below $1,275, the price could test the $1,250 support. Any more losses may perhaps start another decline towards the $1,225 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 $1,275<\/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-13099","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\/13099","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=13099"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/13099\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=13099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=13099"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=13099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}