{"id":15798,"date":"2023-01-11T07:04:40","date_gmt":"2023-01-11T11:04:40","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=15798"},"modified":"2023-01-11T07:04:40","modified_gmt":"2023-01-11T11:04:40","slug":"ethereum-price-consolidate-gains-and-seems-poised-for-upside-break","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/11\/ethereum-price-consolidate-gains-and-seems-poised-for-upside-break\/","title":{"rendered":"Ethereum Price Consolidate Gains and Seems Poised For Upside Break"},"content":{"rendered":"

Ethereum climbed higher above the $1,320 resistance zone against the US Dollar. ETH tested the $1,350 zone and is currently consolidating gains.<\/em><\/p>\n

Ethereum started a decent increase above the $1,300 and $1,320 resistance levels.
\nThe price is now trading above $1,320 and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $1,295 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start another increase if it stays above the $1,280 support zone.<\/p>\n

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

Ethereum price started a decent increase above the $1,300 resistance. ETH was able to settle above the $1,300 resistance zone and gained pace for a move above $1,320, similar to bitcoin<\/a> above $17,000.<\/p>\n

The bulls pushed the price towards the $1,350 resistance zone. A high was formed near $1,346 and the price is now consolidating gains. It is approaching the 23.6% Fib retracement level of the upward wave from the $1,263 swing low to $1,346 high.<\/p>\n

Ether is now trading above $1,320 and the 100 hourly simple moving average<\/a>. There is also a key bullish trend line forming with support near $1,295 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 $1,340 level. The next major resistance is near the $1,350 level. A proper close above the $1,350 resistance could another decent increase. In the stated case, the price may perhaps climb higher towards the $1,420 resistance. Any more gains might send the price towards $1,500, above which the price could rise towards the $1,650 resistance zone.<\/p>\n

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

If ethereum fails to clear the $1,340 resistance, it could start a downside correction. An initial support on the downside is near the $1,320 level.<\/p>\n

The next major support is near the $1,300 level and the trend line. It is near the 50% Fib retracement level of the upward wave from the $1,263 swing low to $1,346 high. A downside break below the trend line support might send the price 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 below the 50 level.<\/p>\n

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

Major Resistance Level \u2013 $1,340<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum climbed higher above the $1,320 resistance zone against the US Dollar. ETH tested the $1,350 zone and is currently consolidating gains.<\/em><\/p>\n

Ethereum started a decent increase above the $1,300 and $1,320 resistance levels.
\nThe price is now trading above $1,320 and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $1,295 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start another increase if it stays above the $1,280 support zone.<\/p>\n

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

Ethereum price started a decent increase above the $1,300 resistance. ETH was able to settle above the $1,300 resistance zone and gained pace for a move above $1,320, similar to bitcoin<\/a> above $17,000.<\/p>\n

The bulls pushed the price towards the $1,350 resistance zone. A high was formed near $1,346 and the price is now consolidating gains. It is approaching the 23.6% Fib retracement level of the upward wave from the $1,263 swing low to $1,346 high.<\/p>\n

Ether is now trading above $1,320 and the 100 hourly simple moving average<\/a>. There is also a key bullish trend line forming with support near $1,295 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 $1,340 level. The next major resistance is near the $1,350 level. A proper close above the $1,350 resistance could another decent increase. In the stated case, the price may perhaps climb higher towards the $1,420 resistance. Any more gains might send the price towards $1,500, above which the price could rise towards the $1,650 resistance zone.<\/p>\n

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

If ethereum fails to clear the $1,340 resistance, it could start a downside correction. An initial support on the downside is near the $1,320 level.<\/p>\n

The next major support is near the $1,300 level and the trend line. It is near the 50% Fib retracement level of the upward wave from the $1,263 swing low to $1,346 high. A downside break below the trend line support might send the price 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 below the 50 level.<\/p>\n

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

Major Resistance Level \u2013 $1,340<\/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-15798","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\/15798","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=15798"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15798\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=15798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=15798"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=15798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}