{"id":15884,"date":"2023-01-12T04:53:24","date_gmt":"2023-01-12T08:53:24","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=15884"},"modified":"2023-01-12T04:53:24","modified_gmt":"2023-01-12T08:53:24","slug":"ethereum-price-climbs-5-to-take-out-hurdles-is-bottom-really-in","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/12\/ethereum-price-climbs-5-to-take-out-hurdles-is-bottom-really-in\/","title":{"rendered":"Ethereum Price Climbs 5% To Take Out Hurdles, Is Bottom Really In?"},"content":{"rendered":"

Ethereum climbed higher above the $1,350 resistance zone against the US Dollar. ETH tested the $1,420 zone and is currently consolidating gains.<\/em><\/p>\n

Ethereum started a steady increase above the $1,320 and $1,350 resistance levels.
\nThe price is now trading above $1,350 and the 100 hourly simple moving average.
\nThere is a connecting bullish trend line forming with support near $1,345 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start another increase if it stays above the $1,320 support zone.<\/p>\n

Ethereum Price Breaks $1,400<\/h2>\n

Ethereum price remained well bid above the $1,300 resistance. ETH settled above the $1,320 resistance zone and started another increase, similar to bitcoin<\/a> above $17,500.<\/p>\n

There was a strong upward move above the $1,350 resistance zone<\/a>. The price gained over 5% and even broke the $1,400 resistance zone. A high is formed near $1,419 and the price is now consolidating gains. Ether price is now trading above $1,350 and the 100 hourly simple moving average.<\/p>\n

There is also a connecting bullish trend line forming with support near $1,345 on the hourly chart of ETH\/USD. The pair seems to be trading just above the 23.6% Fib retracement level of the recent rally from the $1,322 swing low to $1,419 high.<\/p>\n

An immediate resistance is near the $1,420 level. The next major resistance is near the $1,450 level. An upside break above the $1,450 resistance zone could set the pace for a larger 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 $1,500 resistance. Any more gains might send the price towards $1,550, above which the price could rise towards the $1,600 resistance zone.<\/p>\n

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

If ethereum fails to clear the $1,420 resistance, it could start a downside correction. An initial support on the downside is near the $1,395 level.<\/p>\n

The next major support is near the $1,370 level. It is near the 50% Fib retracement level of the recent rally from the $1,322 swing low to $1,419 high. If there is a move below $1,350, the price might test the trend line and $1,350. Any more losses might call for a test of the $1,320 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 $1,370<\/p>\n

Major Resistance Level \u2013 $1,420<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum climbed higher above the $1,350 resistance zone against the US Dollar. ETH tested the $1,420 zone and is currently consolidating gains.<\/em><\/p>\n

Ethereum started a steady increase above the $1,320 and $1,350 resistance levels.
\nThe price is now trading above $1,350 and the 100 hourly simple moving average.
\nThere is a connecting bullish trend line forming with support near $1,345 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start another increase if it stays above the $1,320 support zone.<\/p>\n

Ethereum Price Breaks $1,400<\/h2>\n

Ethereum price remained well bid above the $1,300 resistance. ETH settled above the $1,320 resistance zone and started another increase, similar to bitcoin<\/a> above $17,500.<\/p>\n

There was a strong upward move above the $1,350 resistance zone<\/a>. The price gained over 5% and even broke the $1,400 resistance zone. A high is formed near $1,419 and the price is now consolidating gains. Ether price is now trading above $1,350 and the 100 hourly simple moving average.<\/p>\n

There is also a connecting bullish trend line forming with support near $1,345 on the hourly chart of ETH\/USD. The pair seems to be trading just above the 23.6% Fib retracement level of the recent rally from the $1,322 swing low to $1,419 high.<\/p>\n

An immediate resistance is near the $1,420 level. The next major resistance is near the $1,450 level. An upside break above the $1,450 resistance zone could set the pace for a larger 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 $1,500 resistance. Any more gains might send the price towards $1,550, above which the price could rise towards the $1,600 resistance zone.<\/p>\n

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

If ethereum fails to clear the $1,420 resistance, it could start a downside correction. An initial support on the downside is near the $1,395 level.<\/p>\n

The next major support is near the $1,370 level. It is near the 50% Fib retracement level of the recent rally from the $1,322 swing low to $1,419 high. If there is a move below $1,350, the price might test the trend line and $1,350. Any more losses might call for a test of the $1,320 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 $1,370<\/p>\n

Major Resistance Level \u2013 $1,420<\/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-15884","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\/15884","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=15884"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15884\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=15884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=15884"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=15884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}