{"id":14091,"date":"2022-12-15T04:52:37","date_gmt":"2022-12-15T08:52:37","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=14091"},"modified":"2022-12-15T04:52:37","modified_gmt":"2022-12-15T08:52:37","slug":"ethereum-price-resilience-gives-us-pause-but-not-out-of-woods-yet","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/15\/ethereum-price-resilience-gives-us-pause-but-not-out-of-woods-yet\/","title":{"rendered":"Ethereum Price Resilience Gives us Pause, but Not out of Woods Yet"},"content":{"rendered":"

Ethereum jumped and tested the $1,350 resistance against the US Dollar. ETH corrected lower, but the bulls are active near the $1,280 support.<\/em><\/p>\n

Ethereum was able to clear the $1,300 and $1,320 resistance levels.
\nThe price is now trading near $1,290 and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $1,285 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase unless there is a clear move below the $1,280 support.<\/p>\n

Ethereum Price Tops Near $1,350<\/h2>\n

Ethereum price gained pace<\/a> for a steady move above the $1,300 resistance zone. ETH even surpassed the $1,320 level and settled well above the 100 hourly simple moving average.<\/p>\n

However, the bears were active near the $1,350 zone. There were two attempts to clear the $1,350 resistance, but the bulls failed. As a result, there was a bearish reaction from $1,350, similar to bitcoin<\/a>. Ether price declined below the $1,320 and $1,300 levels.<\/p>\n

There was a clear move below the 50% Fib retracement level of the upward move from the $1,240 swing low to $1,350 swing high. The price is now trading near $1,290 and the 100 hourly simple moving average.<\/p>\n

There is also a key bullish trend line forming with support near $1,285on the hourly chart of ETH\/USD. The pair seems to be stable above the 61.8% Fib retracement level of the upward move from the $1,240 swing low to $1,350 swing high.<\/p>\n

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

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

An immediate resistance on the upside is near the $1,300 level. The first major resistance is near the $1,318 and $1,320 levels. A close above the $1,320 resistance might start a fresh increase. The next major resistance could be $1,350. Any more gains might send the price towards the $1,400 resistance zone.<\/p>\n

More Losses in ETH?<\/h2>\n

If ethereum fails to climb above the $1,320 resistance, it could continue to move down. An initial support on the downside is near the $1,285 level and the trend line.<\/p>\n

The next major support is near the $1,280 level, below which the price could gain bearish momentum towards the $1,240 support. Any more losses could lead the price towards the $1,200 support.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n

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

Major Resistance Level \u2013 $1,320<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum jumped and tested the $1,350 resistance against the US Dollar. ETH corrected lower, but the bulls are active near the $1,280 support.<\/em><\/p>\n

Ethereum was able to clear the $1,300 and $1,320 resistance levels.
\nThe price is now trading near $1,290 and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $1,285 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase unless there is a clear move below the $1,280 support.<\/p>\n

Ethereum Price Tops Near $1,350<\/h2>\n

Ethereum price gained pace<\/a> for a steady move above the $1,300 resistance zone. ETH even surpassed the $1,320 level and settled well above the 100 hourly simple moving average.<\/p>\n

However, the bears were active near the $1,350 zone. There were two attempts to clear the $1,350 resistance, but the bulls failed. As a result, there was a bearish reaction from $1,350, similar to bitcoin<\/a>. Ether price declined below the $1,320 and $1,300 levels.<\/p>\n

There was a clear move below the 50% Fib retracement level of the upward move from the $1,240 swing low to $1,350 swing high. The price is now trading near $1,290 and the 100 hourly simple moving average.<\/p>\n

There is also a key bullish trend line forming with support near $1,285on the hourly chart of ETH\/USD. The pair seems to be stable above the 61.8% Fib retracement level of the upward move from the $1,240 swing low to $1,350 swing high.<\/p>\n

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

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

An immediate resistance on the upside is near the $1,300 level. The first major resistance is near the $1,318 and $1,320 levels. A close above the $1,320 resistance might start a fresh increase. The next major resistance could be $1,350. Any more gains might send the price towards the $1,400 resistance zone.<\/p>\n

More Losses in ETH?<\/h2>\n

If ethereum fails to climb above the $1,320 resistance, it could continue to move down. An initial support on the downside is near the $1,285 level and the trend line.<\/p>\n

The next major support is near the $1,280 level, below which the price could gain bearish momentum towards the $1,240 support. Any more losses could lead the price towards the $1,200 support.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n

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

Major Resistance Level \u2013 $1,320<\/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-14091","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\/14091","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=14091"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/14091\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=14091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=14091"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=14091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}