{"id":13187,"date":"2022-12-02T05:00:32","date_gmt":"2022-12-02T09:00:32","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=13187"},"modified":"2022-12-02T05:00:32","modified_gmt":"2022-12-02T09:00:32","slug":"ethereum-price-holds-strong-at-1250-a-strengthening-case-for-upside","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/02\/ethereum-price-holds-strong-at-1250-a-strengthening-case-for-upside\/","title":{"rendered":"Ethereum Price Holds Strong at $1,250: A Strengthening Case for Upside"},"content":{"rendered":"

Ethereum spiked above the $1,300 resistance zone against the US Dollar. ETH is correcting gains, but it remains supported near $1,250 and $1,230.<\/em><\/p>\n

Ethereum gained pace for a move above $1,300 before the bears appeared.
\nThe price is now trading above $1,250 and the 100 hourly simple moving average.
\nThere was a break below a major bullish trend line with support near $1,280 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could correct further lower towards the $1,250 and $1,230 support levels.<\/p>\n

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

Ethereum price extended its increase above the $1,250 resistance zone. ETH even spiked above the $1,300 resistance zone and settled above the 100 hourly simple moving average, similar to bitcoin<\/a>.<\/p>\n

However, the bears were active abvoet the $1,300 resistance zone. Ether price traded as high as $1,309 before there was a downside correction. The price declined below the 23.6% Fib retracement level of the upward move from the $1,150 swing low to $1,309 high.<\/p>\n

Besides, there was a break below a major bullish trend line with support near $1,280<\/a> on the hourly chart of ETH\/USD. The pair is still trading above $1,250 and the 100 hourly simple moving average.<\/p>\n

An immediate resistance on the upside is near the $1,290 level. The first major resistance is near the $1,300 level. A close above the $1,300 resistance might send the price further higher. The next major resistance is near the $1,350 level, above which ether price might test $1,400.<\/p>\n

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

If the bulls remain in action above $1,400, 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 Supported in ETH?<\/h2>\n

If ethereum fails to start another increase above the $1,300 resistance, it could start a downside correction. An initial support on the downside is near the $1,250 level and the 100 hourly simple moving average.<\/p>\n

The next major support is near the $1,230 level or the 50% Fib retracement level of the upward move from the $1,150 swing low to $1,309 high. If there is a break below $1,230, the price could test the $1,180 support. Any more losses could lead the price towards the $1,150 support.<\/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 just below the 50 level.<\/p>\n

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

Major Resistance Level \u2013 $1,300<\/p>\n

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

<\/p>\n

Ethereum spiked above the $1,300 resistance zone against the US Dollar. ETH is correcting gains, but it remains supported near $1,250 and $1,230.<\/em><\/p>\n

Ethereum gained pace for a move above $1,300 before the bears appeared.
\nThe price is now trading above $1,250 and the 100 hourly simple moving average.
\nThere was a break below a major bullish trend line with support near $1,280 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could correct further lower towards the $1,250 and $1,230 support levels.<\/p>\n

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

Ethereum price extended its increase above the $1,250 resistance zone. ETH even spiked above the $1,300 resistance zone and settled above the 100 hourly simple moving average, similar to bitcoin<\/a>.<\/p>\n

However, the bears were active abvoet the $1,300 resistance zone. Ether price traded as high as $1,309 before there was a downside correction. The price declined below the 23.6% Fib retracement level of the upward move from the $1,150 swing low to $1,309 high.<\/p>\n

Besides, there was a break below a major bullish trend line with support near $1,280<\/a> on the hourly chart of ETH\/USD. The pair is still trading above $1,250 and the 100 hourly simple moving average.<\/p>\n

An immediate resistance on the upside is near the $1,290 level. The first major resistance is near the $1,300 level. A close above the $1,300 resistance might send the price further higher. The next major resistance is near the $1,350 level, above which ether price might test $1,400.<\/p>\n

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

If the bulls remain in action above $1,400, 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 Supported in ETH?<\/h2>\n

If ethereum fails to start another increase above the $1,300 resistance, it could start a downside correction. An initial support on the downside is near the $1,250 level and the 100 hourly simple moving average.<\/p>\n

The next major support is near the $1,230 level or the 50% Fib retracement level of the upward move from the $1,150 swing low to $1,309 high. If there is a break below $1,230, the price could test the $1,180 support. Any more losses could lead the price towards the $1,150 support.<\/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 just below the 50 level.<\/p>\n

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

Major Resistance Level \u2013 $1,300<\/p>\n

Featured Image by 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-13187","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\/13187","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=13187"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/13187\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=13187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=13187"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=13187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}