Ethereum is slowly moving higher above the $1,200 zone against the US Dollar. ETH could continue to rise unless there is a clear move below the $1,150 support.<\/p>\n
Ethereum is facing resistance near the $1,250 and $1,280 levels.
\nThe price is now trading above $1,200 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $1,225 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if there is a clear move above the $1,250 resistance.<\/p>\n
Ethereum Price Eyes More Gains<\/p>\n
Ethereum remained well supported above the $1,150 level. ETH gained pace for a move above the $1,200 resistance zone to move into a positive zone.<\/p>\n
There was also a spike above the $1,250 resistance and a close above the 100 hourly simple moving average. Ether price traded as high as $1,281 and recently corrected gains. There was a move below the $1,250 level. The price declined below the 23.6% Fib retracement level of the upward move from the $1,042 swing low to $1,281 high.<\/p>\n
Besides, there was a break below a key bullish trend line with support near $1,225 on the hourly chart of ETH\/USD. The price is now trading above $1,200 and the 100 hourly simple moving average.<\/p>\n
An immediate resistance on the upside is near the $1,225 level. The next major resistance is near the $1,250 zone. A clear move above the $1,250 resistance zone could start a steady increase. In the stated case, the price could even surpass the $1,280 level.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,320 level. Any more gains could start a move towards the $1,440 resistance in the near term.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,250 resistance, it could start a fresh decline. An initial support on the downside is near the $1,200 zone and the 100 hourly simple moving average.<\/p>\n
The next major support is near the $1,115 zone. It is close to the 50% Fib retracement level of the upward move from the $1,042 swing low to $1,281 high. A close below the $1,150 level might start another decline. In the stated case, ether price may perhaps decline towards the $1,050 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now near the 50 level.<\/p>\n
Major Support Level \u2013 $1,150<\/p>\n
Major Resistance Level \u2013 $1,250<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum is slowly moving higher above the $1,200 zone against the US Dollar. ETH could continue to rise unless there is a clear move below the $1,150 support.<\/p>\n
Ethereum is facing resistance near the $1,250 and $1,280 levels.
\nThe price is now trading above $1,200 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $1,225 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if there is a clear move above the $1,250 resistance.<\/p>\n
Ethereum Price Eyes More Gains<\/p>\n
Ethereum remained well supported above the $1,150 level. ETH gained pace for a move above the $1,200 resistance zone to move into a positive zone.<\/p>\n
There was also a spike above the $1,250 resistance and a close above the 100 hourly simple moving average. Ether price traded as high as $1,281 and recently corrected gains. There was a move below the $1,250 level. The price declined below the 23.6% Fib retracement level of the upward move from the $1,042 swing low to $1,281 high.<\/p>\n
Besides, there was a break below a key bullish trend line with support near $1,225 on the hourly chart of ETH\/USD. The price is now trading above $1,200 and the 100 hourly simple moving average.<\/p>\n
An immediate resistance on the upside is near the $1,225 level. The next major resistance is near the $1,250 zone. A clear move above the $1,250 resistance zone could start a steady increase. In the stated case, the price could even surpass the $1,280 level.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,320 level. Any more gains could start a move towards the $1,440 resistance in the near term.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,250 resistance, it could start a fresh decline. An initial support on the downside is near the $1,200 zone and the 100 hourly simple moving average.<\/p>\n
The next major support is near the $1,115 zone. It is close to the 50% Fib retracement level of the upward move from the $1,042 swing low to $1,281 high. A close below the $1,150 level might start another decline. In the stated case, ether price may perhaps decline towards the $1,050 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now near the 50 level.<\/p>\n
Major Support Level \u2013 $1,150<\/p>\n
Major Resistance Level \u2013 $1,250<\/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-2056","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\/2056","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=2056"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2056\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=2056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=2056"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=2056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}