{"id":24630,"date":"2023-05-26T03:52:38","date_gmt":"2023-05-26T07:52:38","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=24630"},"modified":"2023-05-26T03:52:38","modified_gmt":"2023-05-26T07:52:38","slug":"ethereum-price-could-see-liftoff-if-eth-clears-this-resistance","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/26\/ethereum-price-could-see-liftoff-if-eth-clears-this-resistance\/","title":{"rendered":"Ethereum Price Could See \u201cLiftoff\u201d If ETH Clears This Resistance"},"content":{"rendered":"

Ethereum price started a recovery wave above the $1,780 level against the US Dollar. ETH must clear $1,820 to start a decent increase in the near term.<\/em><\/p>\n

Ethereum is currently consolidating below the $1,820 resistance zone.
\nThe price is trading below $1,820 and the 100-hourly Simple Moving Average.
\nThere is a major bearish trend line forming with resistance near $1,818 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if it settles above the $1,820 resistance.<\/p>\n

Ethereum Price Recovery Faces Hurdle<\/h2>\n

Ethereum\u2019s price extended its decline below the $1,800 zone. ETH even declined below the $1,780 level before the bulls appeared near $1,760, similar to Bitcoin<\/a>.<\/p>\n

A low was formed near $1,761 and the price is currently attempting a recovery wave. It is trading above the 23.6% Fib retracement level of the key decline from the $1,872 swing high to the $1,761 low. Ether is now trading below $1,820 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

There is also a major bearish trend line forming with resistance near $1,818 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the key decline from the $1,872 swing high to the $1,761 low.<\/p>\n

Immediate resistance is near the $1,818 zone and the trend line. The first major resistance is near the $1,820 level. A close above the $1,820 resistance could send Ether toward $1,845.<\/p>\n\n

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

The next resistance sits near $1,875, above which Ethereum could rise toward $1,920. Any more gains above the $1,920 resistance zone could push the price toward the $2,000 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,820 resistance, it could start another bearish wave. Initial support on the downside is near the $1,785 level.<\/p>\n

The next major support is near the $1,760 zone or the recent swing low. If there is a close below the $1,760 support, the price could start another major decline. In the stated case, the price might drop toward the $1,700 support zone. Any more losses may perhaps send the price toward the $1,660 level in the coming days.<\/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 $1,785<\/p>\n

Major Resistance Level \u2013 $1,820<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price started a recovery wave above the $1,780 level against the US Dollar. ETH must clear $1,820 to start a decent increase in the near term.<\/em><\/p>\n

Ethereum is currently consolidating below the $1,820 resistance zone.
\nThe price is trading below $1,820 and the 100-hourly Simple Moving Average.
\nThere is a major bearish trend line forming with resistance near $1,818 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if it settles above the $1,820 resistance.<\/p>\n

Ethereum Price Recovery Faces Hurdle<\/h2>\n

Ethereum\u2019s price extended its decline below the $1,800 zone. ETH even declined below the $1,780 level before the bulls appeared near $1,760, similar to Bitcoin<\/a>.<\/p>\n

A low was formed near $1,761 and the price is currently attempting a recovery wave. It is trading above the 23.6% Fib retracement level of the key decline from the $1,872 swing high to the $1,761 low. Ether is now trading below $1,820 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

There is also a major bearish trend line forming with resistance near $1,818 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the key decline from the $1,872 swing high to the $1,761 low.<\/p>\n

Immediate resistance is near the $1,818 zone and the trend line. The first major resistance is near the $1,820 level. A close above the $1,820 resistance could send Ether toward $1,845.<\/p>\n

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

The next resistance sits near $1,875, above which Ethereum could rise toward $1,920. Any more gains above the $1,920 resistance zone could push the price toward the $2,000 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,820 resistance, it could start another bearish wave. Initial support on the downside is near the $1,785 level.<\/p>\n

The next major support is near the $1,760 zone or the recent swing low. If there is a close below the $1,760 support, the price could start another major decline. In the stated case, the price might drop toward the $1,700 support zone. Any more losses may perhaps send the price toward the $1,660 level in the coming days.<\/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 $1,785<\/p>\n

Major Resistance Level \u2013 $1,820<\/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-24630","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\/24630","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=24630"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24630\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24630"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}