{"id":14381,"date":"2022-12-20T04:54:12","date_gmt":"2022-12-20T08:54:12","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=14381"},"modified":"2022-12-20T04:54:12","modified_gmt":"2022-12-20T08:54:12","slug":"ethereum-price-breaking-this-confluence-resistance-could-start-recovery","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/20\/ethereum-price-breaking-this-confluence-resistance-could-start-recovery\/","title":{"rendered":"Ethereum Price Breaking This Confluence Resistance Could Start Recovery"},"content":{"rendered":"

Ethereum remained in a bearish zone below the $1,250 resistance against the US Dollar. ETH is attempting a recovery wave, but the 100 hourly SMA is the key.<\/em><\/p>\n

Ethereum made another to clear the $1,150 support, but the bulls were active.
\nThe price is now trading below $1,200 and the 100 hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance near $1,165 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent recovery wave if there is a move above the $1,200 resistance.<\/p>\n

Ethereum Price Faces Hurdle<\/h2>\n

Ethereum price moved into a bearish zone below the $1,250 pivot level. ETH gained bearish momentum below the $1,200 level and the 100 hourly simple moving average, similar to bitcoin<\/a>.<\/p>\n

The price spiked and tested the $1,150 support. The bears made two attempts to push ether price below the $1,150 support<\/a>, but failed. The recent low was formed near $1,150 and the price started a short-term upside correction.<\/p>\n

There was a move above the $1,165 resistance. Besides, there was a break above a key bearish trend line with resistance near $1,165 on the hourly chart of ETH\/USD.<\/p>\n

Ether price is now facing resistance near $1,200 and the 100 hourly simple moving average. It is close to the 23.6% Fib retracement level of the main decline from the $1,350 swing high to $1,150 low. The first major resistance is near the $1,220 level.<\/p>\n

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

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

A close above the $1,220 resistance might start a decent recovery wave. The next major resistance could be $1,250 or the 50% Fib retracement level of the main decline from the $1,350 swing high to $1,150 low. If the bulls clear the $1,250 barrier, the price might rise towards $1,300. Any more gains might send the price towards the $1,350 resistance zone.<\/p>\n

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

If ethereum fails to climb above the $1,200 resistance, it could start another bearish wave. An initial support on the downside is near the $1,165 level.<\/p>\n

The next major support is near the $1,150 level, below which the price could accelerate lower towards the $1,100 support. Any more losses could lead the price towards the $1,050 support.<\/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 above the 50 level.<\/p>\n

Major Support Level \u2013 $1,150<\/p>\n

Major Resistance Level \u2013 $1,220<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum remained in a bearish zone below the $1,250 resistance against the US Dollar. ETH is attempting a recovery wave, but the 100 hourly SMA is the key.<\/em><\/p>\n

Ethereum made another to clear the $1,150 support, but the bulls were active.
\nThe price is now trading below $1,200 and the 100 hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance near $1,165 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent recovery wave if there is a move above the $1,200 resistance.<\/p>\n

Ethereum Price Faces Hurdle<\/h2>\n

Ethereum price moved into a bearish zone below the $1,250 pivot level. ETH gained bearish momentum below the $1,200 level and the 100 hourly simple moving average, similar to bitcoin<\/a>.<\/p>\n

The price spiked and tested the $1,150 support. The bears made two attempts to push ether price below the $1,150 support<\/a>, but failed. The recent low was formed near $1,150 and the price started a short-term upside correction.<\/p>\n

There was a move above the $1,165 resistance. Besides, there was a break above a key bearish trend line with resistance near $1,165 on the hourly chart of ETH\/USD.<\/p>\n

Ether price is now facing resistance near $1,200 and the 100 hourly simple moving average. It is close to the 23.6% Fib retracement level of the main decline from the $1,350 swing high to $1,150 low. The first major resistance is near the $1,220 level.<\/p>\n

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

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

A close above the $1,220 resistance might start a decent recovery wave. The next major resistance could be $1,250 or the 50% Fib retracement level of the main decline from the $1,350 swing high to $1,150 low. If the bulls clear the $1,250 barrier, the price might rise towards $1,300. Any more gains might send the price towards the $1,350 resistance zone.<\/p>\n

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

If ethereum fails to climb above the $1,200 resistance, it could start another bearish wave. An initial support on the downside is near the $1,165 level.<\/p>\n

The next major support is near the $1,150 level, below which the price could accelerate lower towards the $1,100 support. Any more losses could lead the price towards the $1,050 support.<\/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 above the 50 level.<\/p>\n

Major Support Level \u2013 $1,150<\/p>\n

Major Resistance Level \u2013 $1,220<\/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-14381","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\/14381","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=14381"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/14381\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=14381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=14381"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=14381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}