{"id":23675,"date":"2023-05-10T03:52:49","date_gmt":"2023-05-10T07:52:49","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=23675"},"modified":"2023-05-10T03:52:49","modified_gmt":"2023-05-10T07:52:49","slug":"ethereum-price-signals-recovery-but-100-sma-is-the-key","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/10\/ethereum-price-signals-recovery-but-100-sma-is-the-key\/","title":{"rendered":"Ethereum Price Signals Recovery But 100 SMA Is The Key"},"content":{"rendered":"

Ethereum price is slowly moving higher from $1,840 against the US Dollar. ETH is still facing strong resistance near the $1,875 level and the 100 hourly SMA.<\/em><\/p>\n

Ethereum is currently consolidating losses above the $1,820 support zone.
\nThe price is trading below $1,875 and the 100-hourly Simple Moving Average.
\nThere was a break above a major bearish trend line with resistance near $1,850 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could struggle to clear the $1,875 and $1,880 resistance levels.<\/p>\n

Ethereum Price Starts Consolidation<\/h2>\n

Ethereum\u2019s price remained in a bearish zone the $1,875 support zone. ETH tested the $1,810 zone and recently started a consolidation phase, similar to Bitcoin<\/a>.<\/p>\n

A low is formed near $1,812 and the price is slowly moving higher in a range. It traded above the 23.6% Fib retracement level of the swing move from the $1,935 high to the $1,812 low. Besides, there was a break above a major bearish trend line with resistance near $1,850 on the hourly chart of ETH\/USD.<\/p>\n

However, Ether is still trading below $1,875 and the 100-hourly Simple Moving Average<\/a>. Immediate resistance is near the $1,860 level. The next resistance sits near $1,875 or the 100-hourly Simple Moving Average or the 50% Fib retracement level of the swing move from the $1,935 high to the $1,812 low.<\/p>\n

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

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

The next key resistance might be near the $1,920 level. A close above the $1,920 resistance zone could start a decent increase in Ethereum and the price might rise toward the $1,975 resistance. Any more gains might send the price toward the $1,950 resistance.<\/p>\n

Fresh Decline in ETH?<\/h2>\n

If Ethereum fails to clear the $1,875 resistance, it could start another decline. Initial support on the downside is near the $1,820 level or the recent low.<\/p>\n

The next major support is near the $1,800 zone. If there is a downside break and a close below $1,800, the bears could gain strength. In the stated case, the price might drop toward the $1,720 support zone. Any more losses may perhaps take the price toward the $1,650 level in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is still below the 50 level.<\/p>\n

Major Support Level \u2013 $1,800<\/p>\n

Major Resistance Level \u2013 $1,875<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is slowly moving higher from $1,840 against the US Dollar. ETH is still facing strong resistance near the $1,875 level and the 100 hourly SMA.<\/em><\/p>\n

Ethereum is currently consolidating losses above the $1,820 support zone.
\nThe price is trading below $1,875 and the 100-hourly Simple Moving Average.
\nThere was a break above a major bearish trend line with resistance near $1,850 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could struggle to clear the $1,875 and $1,880 resistance levels.<\/p>\n

Ethereum Price Starts Consolidation<\/h2>\n

Ethereum\u2019s price remained in a bearish zone the $1,875 support zone. ETH tested the $1,810 zone and recently started a consolidation phase, similar to Bitcoin<\/a>.<\/p>\n

A low is formed near $1,812 and the price is slowly moving higher in a range. It traded above the 23.6% Fib retracement level of the swing move from the $1,935 high to the $1,812 low. Besides, there was a break above a major bearish trend line with resistance near $1,850 on the hourly chart of ETH\/USD.<\/p>\n

However, Ether is still trading below $1,875 and the 100-hourly Simple Moving Average<\/a>. Immediate resistance is near the $1,860 level. The next resistance sits near $1,875 or the 100-hourly Simple Moving Average or the 50% Fib retracement level of the swing move from the $1,935 high to the $1,812 low.<\/p>\n

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

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

The next key resistance might be near the $1,920 level. A close above the $1,920 resistance zone could start a decent increase in Ethereum and the price might rise toward the $1,975 resistance. Any more gains might send the price toward the $1,950 resistance.<\/p>\n

Fresh Decline in ETH?<\/h2>\n

If Ethereum fails to clear the $1,875 resistance, it could start another decline. Initial support on the downside is near the $1,820 level or the recent low.<\/p>\n

The next major support is near the $1,800 zone. If there is a downside break and a close below $1,800, the bears could gain strength. In the stated case, the price might drop toward the $1,720 support zone. Any more losses may perhaps take the price toward the $1,650 level in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is still below the 50 level.<\/p>\n

Major Support Level \u2013 $1,800<\/p>\n

Major Resistance Level \u2013 $1,875<\/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-23675","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\/23675","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=23675"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/23675\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=23675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=23675"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=23675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}