{"id":15694,"date":"2023-01-10T05:59:09","date_gmt":"2023-01-10T09:59:09","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=15694"},"modified":"2023-01-10T05:59:09","modified_gmt":"2023-01-10T09:59:09","slug":"ethereum-price-turns-green-but-decreasing-volumes-might-be-concerning","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/10\/ethereum-price-turns-green-but-decreasing-volumes-might-be-concerning\/","title":{"rendered":"Ethereum Price Turns Green But Decreasing Volumes Might Be Concerning"},"content":{"rendered":"

Ethereum extended its increase above the $1,300 resistance zone against the US Dollar. ETH tested the $1,350 zone and is currently correcting lower.<\/em><\/p>\n

Ethereum remained in a positive zone and climbed above the $1,300 and $1,320 resistance levels.
\nThe price is now trading above $1,300 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $1,292 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise further if it stays above the $1,280 support zone.<\/p>\n

Ethereum Price Faces Resistance<\/h2>\n

Ethereum price started a decent increase above the $1,280 level<\/a>. ETH gained pace and was able to clear the $1,300 resistance zone to move into a positive zone, similar to bitcoin<\/a> above $17,000.<\/p>\n

The price even broke the $1,320 zone to extend its increase. Ether traded to a new yearly high at $1,343 and slowly lost momentum. It seems like the price climbed above the $1,320 level on a decreasing trading volume. As a result, there was a pullback below the $1,325 level.<\/p>\n

The price declined below the 23.6% Fib retracement level of the upward move from the $1,262 swing low to $1,343 high. Ether is still trading above $1,300 and the 100 hourly simple moving average.<\/p>\n

There is also a major bullish trend line forming with support near $1,292 on the hourly chart of ETH\/USD. An immediate resistance is near the $1,330 level. The next major resistance is near the $1,350 level. A clear move above the $1,350 resistance could another decent increase.<\/p>\n

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

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

In the stated case, the price may perhaps climb higher towards the $1,400 resistance. The next major resistance could be $1,450, above which the price could surge towards the $1,500 resistance zone.<\/p>\n

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

If ethereum fails to clear the $1,330 resistance, it could continue to move lower. An initial support on the downside is near the $1,305 level.<\/p>\n

The next major support is near the $1,292 level and the trend line. It is near the 61.8% Fib retracement level of the upward move from the $1,262 swing low to $1,343 high. A downside break below the trend line support might call for a move towards the $1,280 support. Any more losses might call for a test of the $1,250 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 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 extended its increase above the $1,300 resistance zone against the US Dollar. ETH tested the $1,350 zone and is currently correcting lower.<\/em><\/p>\n

Ethereum remained in a positive zone and climbed above the $1,300 and $1,320 resistance levels.
\nThe price is now trading above $1,300 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $1,292 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise further if it stays above the $1,280 support zone.<\/p>\n

Ethereum Price Faces Resistance<\/h2>\n

Ethereum price started a decent increase above the $1,280 level<\/a>. ETH gained pace and was able to clear the $1,300 resistance zone to move into a positive zone, similar to bitcoin<\/a> above $17,000.<\/p>\n

The price even broke the $1,320 zone to extend its increase. Ether traded to a new yearly high at $1,343 and slowly lost momentum. It seems like the price climbed above the $1,320 level on a decreasing trading volume. As a result, there was a pullback below the $1,325 level.<\/p>\n

The price declined below the 23.6% Fib retracement level of the upward move from the $1,262 swing low to $1,343 high. Ether is still trading above $1,300 and the 100 hourly simple moving average.<\/p>\n

There is also a major bullish trend line forming with support near $1,292 on the hourly chart of ETH\/USD. An immediate resistance is near the $1,330 level. The next major resistance is near the $1,350 level. A clear move above the $1,350 resistance could another decent increase.<\/p>\n

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

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

In the stated case, the price may perhaps climb higher towards the $1,400 resistance. The next major resistance could be $1,450, above which the price could surge towards the $1,500 resistance zone.<\/p>\n

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

If ethereum fails to clear the $1,330 resistance, it could continue to move lower. An initial support on the downside is near the $1,305 level.<\/p>\n

The next major support is near the $1,292 level and the trend line. It is near the 61.8% Fib retracement level of the upward move from the $1,262 swing low to $1,343 high. A downside break below the trend line support might call for a move towards the $1,280 support. Any more losses might call for a test of the $1,250 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 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":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-15694","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\/15694","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=15694"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15694\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=15694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=15694"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=15694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}