{"id":13917,"date":"2022-12-13T06:54:59","date_gmt":"2022-12-13T10:54:59","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=13917"},"modified":"2022-12-13T06:54:59","modified_gmt":"2022-12-13T10:54:59","slug":"ethereum-price-key-indicators-suggest-strengthening-case-for-upside-break","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/13\/ethereum-price-key-indicators-suggest-strengthening-case-for-upside-break\/","title":{"rendered":"Ethereum Price Key Indicators Suggest Strengthening Case For Upside Break"},"content":{"rendered":"

Ethereum remained supported above the $1,240 level against the US Dollar. ETH is rising and might soon attempt an upside break above the $1,300 barrier.<\/em><\/p>\n

Ethereum remained well bid above the $1,240 and $1,220 levels.
\nThe price is now trading above $1,260 and the 100 hourly simple moving average.
\nThere is a major contracting triangle forming with resistance near $1,280 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a strong increase if there is a clear move above the $1,300 barrier.<\/p>\n

Ethereum Price Eyes Upside Break<\/h2>\n

Ethereum price started a downside correction<\/a> from the $1,285 resistance. ETH declined below the $1,260 level and the 100 hourly simple moving average.<\/p>\n

However, the bulls were again active near the $1,240 support zone. A low was formed near $1,240 and ether price started a fresh increase, similar to bitcoin<\/a>. The price climbed above the $1,260 level and the 100 hourly simple moving average.<\/p>\n

It is now consolidating near the $1,275 level. There was a test of the 23.6% Fib retracement level of the recent increase from the $1,240 swing low to $1,278 high.<\/p>\n

An immediate resistance on the upside is near the $1,280 level. There is also a major contracting triangle forming with resistance near $1,280 on the hourly chart of ETH\/USD. The first major resistance is near the $1,290 and $1,300 levels.<\/p>\n

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

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

A close above the $1,300 resistance might start a strong increase. The next major resistance could be $1,340. Any more gains might send the price towards the $1,400 resistance zone.<\/p>\n

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

If ethereum fails to climb above the $1,280 resistance, it could start another downside correction. An initial support on the downside is near the $1,260 level and the 100 hourly simple moving average.<\/p>\n

The 50% Fib retracement level of the recent increase from the $1,240 swing low to $1,278 high is also near $1,260. The next major support is near the $1,240 level, below which the price could even retest the $1,200 support. Any more losses could lead the price towards the $1,165 support in the coming days.<\/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 well above the 50 level.<\/p>\n

Major Support Level \u2013 $1,240<\/p>\n

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

<\/p>\n

Ethereum remained supported above the $1,240 level against the US Dollar. ETH is rising and might soon attempt an upside break above the $1,300 barrier.<\/em><\/p>\n

Ethereum remained well bid above the $1,240 and $1,220 levels.
\nThe price is now trading above $1,260 and the 100 hourly simple moving average.
\nThere is a major contracting triangle forming with resistance near $1,280 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a strong increase if there is a clear move above the $1,300 barrier.<\/p>\n

Ethereum Price Eyes Upside Break<\/h2>\n

Ethereum price started a downside correction<\/a> from the $1,285 resistance. ETH declined below the $1,260 level and the 100 hourly simple moving average.<\/p>\n

However, the bulls were again active near the $1,240 support zone. A low was formed near $1,240 and ether price started a fresh increase, similar to bitcoin<\/a>. The price climbed above the $1,260 level and the 100 hourly simple moving average.<\/p>\n

It is now consolidating near the $1,275 level. There was a test of the 23.6% Fib retracement level of the recent increase from the $1,240 swing low to $1,278 high.<\/p>\n

An immediate resistance on the upside is near the $1,280 level. There is also a major contracting triangle forming with resistance near $1,280 on the hourly chart of ETH\/USD. The first major resistance is near the $1,290 and $1,300 levels.<\/p>\n

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

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

A close above the $1,300 resistance might start a strong increase. The next major resistance could be $1,340. Any more gains might send the price towards the $1,400 resistance zone.<\/p>\n

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

If ethereum fails to climb above the $1,280 resistance, it could start another downside correction. An initial support on the downside is near the $1,260 level and the 100 hourly simple moving average.<\/p>\n

The 50% Fib retracement level of the recent increase from the $1,240 swing low to $1,278 high is also near $1,260. The next major support is near the $1,240 level, below which the price could even retest the $1,200 support. Any more losses could lead the price towards the $1,165 support in the coming days.<\/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 well above the 50 level.<\/p>\n

Major Support Level \u2013 $1,240<\/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-13917","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\/13917","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=13917"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/13917\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=13917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=13917"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=13917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}