{"id":15430,"date":"2023-01-06T02:54:11","date_gmt":"2023-01-06T06:54:11","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=15430"},"modified":"2023-01-06T02:54:11","modified_gmt":"2023-01-06T06:54:11","slug":"ethereum-price-consolidates-gains-why-eth-could-start-another-increase","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/06\/ethereum-price-consolidates-gains-why-eth-could-start-another-increase\/","title":{"rendered":"Ethereum Price Consolidates Gains, Why ETH Could Start Another Increase"},"content":{"rendered":"

Ethereum climbed higher and tested the $1,275 resistance zone against the US Dollar. ETH is consolidating gains and might aim a fresh move above the $1,300 resistance.<\/em><\/p>\n

Ethereum struggled to climb higher above the $1,275 and $1,280 resistance levels.
\nThe price is now trading above $1,230 and the 100 hourly simple moving average.
\nThere is a connecting bullish trend line forming with support near $1,230 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if the price stays above the $1,220 support zone.<\/p>\n

Ethereum Price Remains Stable<\/h2>\n

Ethereum price started a decent increase above the $1,220 level. ETH gained pace and was able to clear the $1,240 resistance zone, similar to bitcoin<\/a>.<\/p>\n

The price even spiked above the $1,250 level and tested the $1,275 level. A high was formed near $1,271 and recently started a minor downside correction. There was a move below the 23.6% Fib retracement level of the upward move from the $1,204 swing low to $1,271 high.<\/p>\n

Ether price is now trading above $1,230 and the 100 hourly simple moving average<\/a>. There is also a connecting bullish trend line forming with support near $1,230 on the hourly chart of ETH\/USD.<\/p>\n

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

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

An immediate resistance is near the $1,260 level. The next major resistance is near the $1,270 level. A clear move above the $1,270 resistance could a decent increase. In the stated case, the price may perhaps rise towards the $1,320 resistance. The next major resistance could be $1,350, above which the price could rise towards the $1,450 resistance zone.<\/p>\n

Dips Supported in ETH?<\/h2>\n

If ethereum fails to clear the $1,260 resistance, it could correct further lower. An initial support on the downside is near the $1,240 level.<\/p>\n

The next major support is near the $1,230 level and the trend line. It is near the 61.8% Fib retracement level of the upward move from the $1,204 swing low to $1,271 high. A downside break below the trend line support might send the price towards the $1,200 support. Any more losses might call for a test of the $1,180 zone.<\/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 near the 50 level.<\/p>\n

Major Support Level \u2013 $1,230<\/p>\n

Major Resistance Level \u2013 $1,275<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum climbed higher and tested the $1,275 resistance zone against the US Dollar. ETH is consolidating gains and might aim a fresh move above the $1,300 resistance.<\/em><\/p>\n

Ethereum struggled to climb higher above the $1,275 and $1,280 resistance levels.
\nThe price is now trading above $1,230 and the 100 hourly simple moving average.
\nThere is a connecting bullish trend line forming with support near $1,230 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if the price stays above the $1,220 support zone.<\/p>\n

Ethereum Price Remains Stable<\/h2>\n

Ethereum price started a decent increase above the $1,220 level. ETH gained pace and was able to clear the $1,240 resistance zone, similar to bitcoin<\/a>.<\/p>\n

The price even spiked above the $1,250 level and tested the $1,275 level. A high was formed near $1,271 and recently started a minor downside correction. There was a move below the 23.6% Fib retracement level of the upward move from the $1,204 swing low to $1,271 high.<\/p>\n

Ether price is now trading above $1,230 and the 100 hourly simple moving average<\/a>. There is also a connecting bullish trend line forming with support near $1,230 on the hourly chart of ETH\/USD.<\/p>\n

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

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

An immediate resistance is near the $1,260 level. The next major resistance is near the $1,270 level. A clear move above the $1,270 resistance could a decent increase. In the stated case, the price may perhaps rise towards the $1,320 resistance. The next major resistance could be $1,350, above which the price could rise towards the $1,450 resistance zone.<\/p>\n

Dips Supported in ETH?<\/h2>\n

If ethereum fails to clear the $1,260 resistance, it could correct further lower. An initial support on the downside is near the $1,240 level.<\/p>\n

The next major support is near the $1,230 level and the trend line. It is near the 61.8% Fib retracement level of the upward move from the $1,204 swing low to $1,271 high. A downside break below the trend line support might send the price towards the $1,200 support. Any more losses might call for a test of the $1,180 zone.<\/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 near the 50 level.<\/p>\n

Major Support Level \u2013 $1,230<\/p>\n

Major Resistance Level \u2013 $1,275<\/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-15430","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\/15430","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=15430"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15430\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=15430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=15430"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=15430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}