{"id":14007,"date":"2022-12-14T05:00:42","date_gmt":"2022-12-14T09:00:42","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=14007"},"modified":"2022-12-14T05:00:42","modified_gmt":"2022-12-14T09:00:42","slug":"ethereum-price-aim-big-after-recent-breakout-above-1300","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/14\/ethereum-price-aim-big-after-recent-breakout-above-1300\/","title":{"rendered":"Ethereum Price Aim Big After Recent Breakout Above $1,300"},"content":{"rendered":"

Ethereum gained pace for a move above the $1,300 resistance against the US Dollar. ETH is consolidating gains and might eye a fresh increase in the near term.<\/em><\/p>\n

Ethereum was able to clear the $1,280 and $1,300 resistance levels.
\nThe price is now trading above $1,280 and the 100 hourly simple moving average.
\nThere was a break above a key contracting triangle with resistance near $1,275 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could correct lower, but the bulls might be active near $1,280 and $1,270.<\/p>\n

Ethereum Price Breaks Hurdle<\/h2>\n

Ethereum price remained well bid<\/a> above the $1,240 support zone. ETH formed a base above the $1,250 level and the 100 hourly simple moving average.<\/p>\n

There was a strong increase above the $1,280 resistance after the US CPI release, similar to bitcoin<\/a>. Besides, there was a break above a key contracting triangle with resistance near $1,275 on the hourly chart of ETH\/USD. The pair even cleared the $1,300 resistance zone.<\/p>\n

Ether price traded as high as $1,349 before the bears appeared. Recently, there was a downside correction below the $1,320 level. The price declined below the 23.6% Fib retracement level of the recent wave from the $1,240 swing low to $1,349 high.<\/p>\n

However, the bulls were active near the $1,300 support zone. It also stayed well above the 50% Fib retracement level of the recent wave from the $1,240 swing low to $1,349 high.<\/p>\n

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

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

An immediate resistance on the upside is near the $1,325 level. The first major resistance is near the $1,345 and $1,350 levels. A close above the $1,350 resistance might start a fresh increase. The next major resistance could be $1,400. 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 climb above the $1,350 resistance, it could start another downside correction. An initial support on the downside is near the $1,295 level.<\/p>\n

The next major support is near the $1,280 level and the 100 hourly simple moving average, below which the price could even retest the $1,260 support. Any more losses could lead the price towards the $1,245 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 well above the 50 level.<\/p>\n

Major Support Level \u2013 $1,280<\/p>\n

Major Resistance Level \u2013 $1,350<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum gained pace for a move above the $1,300 resistance against the US Dollar. ETH is consolidating gains and might eye a fresh increase in the near term.<\/em><\/p>\n

Ethereum was able to clear the $1,280 and $1,300 resistance levels.
\nThe price is now trading above $1,280 and the 100 hourly simple moving average.
\nThere was a break above a key contracting triangle with resistance near $1,275 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could correct lower, but the bulls might be active near $1,280 and $1,270.<\/p>\n

Ethereum Price Breaks Hurdle<\/h2>\n

Ethereum price remained well bid<\/a> above the $1,240 support zone. ETH formed a base above the $1,250 level and the 100 hourly simple moving average.<\/p>\n

There was a strong increase above the $1,280 resistance after the US CPI release, similar to bitcoin<\/a>. Besides, there was a break above a key contracting triangle with resistance near $1,275 on the hourly chart of ETH\/USD. The pair even cleared the $1,300 resistance zone.<\/p>\n

Ether price traded as high as $1,349 before the bears appeared. Recently, there was a downside correction below the $1,320 level. The price declined below the 23.6% Fib retracement level of the recent wave from the $1,240 swing low to $1,349 high.<\/p>\n

However, the bulls were active near the $1,300 support zone. It also stayed well above the 50% Fib retracement level of the recent wave from the $1,240 swing low to $1,349 high.<\/p>\n

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

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

An immediate resistance on the upside is near the $1,325 level. The first major resistance is near the $1,345 and $1,350 levels. A close above the $1,350 resistance might start a fresh increase. The next major resistance could be $1,400. 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 climb above the $1,350 resistance, it could start another downside correction. An initial support on the downside is near the $1,295 level.<\/p>\n

The next major support is near the $1,280 level and the 100 hourly simple moving average, below which the price could even retest the $1,260 support. Any more losses could lead the price towards the $1,245 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 well above the 50 level.<\/p>\n

Major Support Level \u2013 $1,280<\/p>\n

Major Resistance Level \u2013 $1,350<\/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-14007","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\/14007","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=14007"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/14007\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=14007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=14007"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=14007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}