{"id":14546,"date":"2022-12-22T04:52:36","date_gmt":"2022-12-22T08:52:36","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=14546"},"modified":"2022-12-22T04:52:36","modified_gmt":"2022-12-22T08:52:36","slug":"ethereum-price-consolidates-below-1250-what-could-trigger-a-fresh-rally","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/22\/ethereum-price-consolidates-below-1250-what-could-trigger-a-fresh-rally\/","title":{"rendered":"Ethereum Price Consolidates Below $1,250: What Could Trigger A Fresh Rally?"},"content":{"rendered":"

Ethereum is facing resistance above $1,250 against the US Dollar. ETH could gain bullish momentum if it clears the $1,230 and $1,250 resistance levels.<\/em><\/p>\n

Ethereum attempted a recovery wave and climbed above the $1,200 level.
\nThe price is now trading above $1,200 and the 100 hourly simple moving average.
\nThere is a key contracting triangle forming with resistance near $1,220 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could a steady increase if there is a clear move above $1,230 and $1,250.<\/p>\n

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

Ethereum price started an upside correction from the $1,150 support zone. ETH was able to climb above the $1,180 and $1,200 levels.<\/p>\n

There was a close above the $1,200 level and the 100 hourly simple moving average. Ether price even tested the $1,230 resistance zone. It is now consolidating below the $1,230 level, similar to bitcoin<\/a>. There was a minor decline below the $1,220 level.<\/p>\n

The price declined below 23.6% Fib retracement level of the upward move from the $1,150 swing low to $1,230 high. Ether is now trading above $1,200 and the 100 hourly simple moving average.<\/p>\n

An immediate resistance is near the $1,220 level. There is also a key contracting triangle forming with resistance near $1,220 on the hourly chart of ETH\/USD. The first major resistance is near the $1,230 level<\/a>. A clear upside break above the $1,230 resistance could send the price towards the $1,250 resistance.<\/p>\n

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

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

To start a steady increase, the price must settle above the $1,230 and $1,250 levels. The next major resistance could be $1,300. If the bulls clear the $1,300 resistance, the price might rise towards $1,345. Any more gains might send the price towards the $1,400 resistance zone.<\/p>\n

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

If ethereum fails to climb above the $1,230 resistance, it could start another drop. An initial support on the downside is near the $1,200 level and the 100 hourly simple moving average.<\/p>\n

The next major support is near the $1,190 level. It is close to the 50% Fib retracement level of the upward move from the $1,150 swing low to $1,230 high. A downside break below $1,190 might spark a move towards the $1,150 support. Any more losses could lead the price towards the $1,065 support.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now slowly 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 $1,190<\/p>\n

Major Resistance Level \u2013 $1,230<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum is facing resistance above $1,250 against the US Dollar. ETH could gain bullish momentum if it clears the $1,230 and $1,250 resistance levels.<\/em><\/p>\n

Ethereum attempted a recovery wave and climbed above the $1,200 level.
\nThe price is now trading above $1,200 and the 100 hourly simple moving average.
\nThere is a key contracting triangle forming with resistance near $1,220 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could a steady increase if there is a clear move above $1,230 and $1,250.<\/p>\n

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

Ethereum price started an upside correction from the $1,150 support zone. ETH was able to climb above the $1,180 and $1,200 levels.<\/p>\n

There was a close above the $1,200 level and the 100 hourly simple moving average. Ether price even tested the $1,230 resistance zone. It is now consolidating below the $1,230 level, similar to bitcoin<\/a>. There was a minor decline below the $1,220 level.<\/p>\n

The price declined below 23.6% Fib retracement level of the upward move from the $1,150 swing low to $1,230 high. Ether is now trading above $1,200 and the 100 hourly simple moving average.<\/p>\n

An immediate resistance is near the $1,220 level. There is also a key contracting triangle forming with resistance near $1,220 on the hourly chart of ETH\/USD. The first major resistance is near the $1,230 level<\/a>. A clear upside break above the $1,230 resistance could send the price towards the $1,250 resistance.<\/p>\n

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

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

To start a steady increase, the price must settle above the $1,230 and $1,250 levels. The next major resistance could be $1,300. If the bulls clear the $1,300 resistance, the price might rise towards $1,345. Any more gains might send the price towards the $1,400 resistance zone.<\/p>\n

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

If ethereum fails to climb above the $1,230 resistance, it could start another drop. An initial support on the downside is near the $1,200 level and the 100 hourly simple moving average.<\/p>\n

The next major support is near the $1,190 level. It is close to the 50% Fib retracement level of the upward move from the $1,150 swing low to $1,230 high. A downside break below $1,190 might spark a move towards the $1,150 support. Any more losses could lead the price towards the $1,065 support.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now slowly 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 $1,190<\/p>\n

Major Resistance Level \u2013 $1,230<\/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-14546","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\/14546","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=14546"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/14546\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=14546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=14546"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=14546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}