{"id":24471,"date":"2023-05-23T04:53:19","date_gmt":"2023-05-23T08:53:19","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=24471"},"modified":"2023-05-23T04:53:19","modified_gmt":"2023-05-23T08:53:19","slug":"ethereum-price-sees-bullish-breakout-and-why-dips-turn-attractive","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/23\/ethereum-price-sees-bullish-breakout-and-why-dips-turn-attractive\/","title":{"rendered":"Ethereum Price Sees Bullish Breakout And Why Dips Turn Attractive"},"content":{"rendered":"

Ethereum price climbed above the $1,840 resistance against the US Dollar. ETH is showing positive signs and might aim a move toward the $1,920 resistance.<\/em><\/p>\n

Ethereum is currently gaining pace above the $1,840 resistance zone.
\nThe price is trading above $1,820 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $1,835 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise further if it stays above the $1,835 and $1,820 support levels.<\/p>\n

Ethereum Price Gains Bullish Momentum<\/h2>\n

Ethereum\u2019s price formed a base above the $1,800 support level. ETH started a decent increase above the $1,820 resistance level and averted more losses, similar to Bitcoin<\/a>.<\/p>\n

There was a clear move above the $1,830 and $1,840 resistance levels. The price even spiked above $1,870. A high is formed near $1,873 and is currently consolidating gains above the 23.6% Fib retracement level of the recent wave from the $1,793 swing low to the $1,873 high.<\/p>\n

Ether is now trading above $1,820 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support near $1,835 on the hourly chart of ETH\/USD.<\/p>\n

Immediate resistance is near the $1,880 zone and the recent higher. The first major resistance is near the $1,920 level. A close above the $1,920 resistance could spark more bullish moves. The next resistance sits near $1,940, above which Ethereum could rise toward $2,000.<\/p>\n\n

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

If the bulls remain in action, Ethereum could rise toward $2,040. Any more gains above the $2,040 resistance zone could start a steady increase toward the $2,120 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,880 resistance, it could start a downside correction. Initial support on the downside is near the $1,850 level.<\/p>\n

The next major support is near the $1,835 zone and the trend line. It is close to the 50% Fib retracement level of the recent wave from the $1,793 swing low to the $1,873 high. The main support sits at $1,820. If there is a close below the $1,820 support, the price could move into a bearish zone. In the stated case, the price might drop toward the $1,780 support zone.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,830<\/p>\n

Major Resistance Level \u2013 $1,880<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price climbed above the $1,840 resistance against the US Dollar. ETH is showing positive signs and might aim a move toward the $1,920 resistance.<\/em><\/p>\n

Ethereum is currently gaining pace above the $1,840 resistance zone.
\nThe price is trading above $1,820 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $1,835 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise further if it stays above the $1,835 and $1,820 support levels.<\/p>\n

Ethereum Price Gains Bullish Momentum<\/h2>\n

Ethereum\u2019s price formed a base above the $1,800 support level. ETH started a decent increase above the $1,820 resistance level and averted more losses, similar to Bitcoin<\/a>.<\/p>\n

There was a clear move above the $1,830 and $1,840 resistance levels. The price even spiked above $1,870. A high is formed near $1,873 and is currently consolidating gains above the 23.6% Fib retracement level of the recent wave from the $1,793 swing low to the $1,873 high.<\/p>\n

Ether is now trading above $1,820 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support near $1,835 on the hourly chart of ETH\/USD.<\/p>\n

Immediate resistance is near the $1,880 zone and the recent higher. The first major resistance is near the $1,920 level. A close above the $1,920 resistance could spark more bullish moves. The next resistance sits near $1,940, above which Ethereum could rise toward $2,000.<\/p>\n

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

If the bulls remain in action, Ethereum could rise toward $2,040. Any more gains above the $2,040 resistance zone could start a steady increase toward the $2,120 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,880 resistance, it could start a downside correction. Initial support on the downside is near the $1,850 level.<\/p>\n

The next major support is near the $1,835 zone and the trend line. It is close to the 50% Fib retracement level of the recent wave from the $1,793 swing low to the $1,873 high. The main support sits at $1,820. If there is a close below the $1,820 support, the price could move into a bearish zone. In the stated case, the price might drop toward the $1,780 support zone.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,830<\/p>\n

Major Resistance Level \u2013 $1,880<\/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-24471","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\/24471","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=24471"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24471\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24471"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}