{"id":24707,"date":"2023-05-29T03:53:56","date_gmt":"2023-05-29T07:53:56","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=24707"},"modified":"2023-05-29T03:53:56","modified_gmt":"2023-05-29T07:53:56","slug":"ethereum-price-gearing-for-another-lift-off-to-2k-recovery-isnt-over-yet","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/29\/ethereum-price-gearing-for-another-lift-off-to-2k-recovery-isnt-over-yet\/","title":{"rendered":"Ethereum Price Gearing For Another Lift-Off to $2K: Recovery Isn\u2019t Over Yet"},"content":{"rendered":"

Ethereum price started a recovery wave above the $1,850 level against the US Dollar. ETH must clear $1,920 to continue higher in the near term.<\/em><\/p>\n

Ethereum is currently showing positive signs above the $1,850 resistance zone.
\nThe price is trading above $1,880 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $1,870 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise further if it clears the $1,920 resistance.<\/p>\n

Ethereum Price Recovers 4%<\/h2>\n

Ethereum\u2019s price remained supported above the $1,750 level. ETH formed a base and recently started a fresh increase above the $1,820 resistance, similar to Bitcoin<\/a>.<\/p>\n

The bulls were able to pump the price above the $1,850 resistance. It even spiked above the $1,900 level. However, the bears are still active near the $1,920 resistance. A high is formed near $1,929 and the price is now consolidating gains.<\/p>\n

Ether is trading above $1,880 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support near $1,870 on the hourly chart of ETH\/USD.<\/p>\n

The price is now trading near the 23.6% Fib retracement level of the recent increase from the $1,837 swing low to the $1,929 high. Immediate resistance is near the $1,920 zone. The next major resistance is near the $1,930 level. A close above the $1,930 resistance could send Ether toward $2,000.<\/p>\n\n

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

The next resistance sits near $2,050, above which Ethereum could rise toward $2,120. Any more gains above the $2,120 resistance zone could push the price toward the $2,250 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,920 resistance, it could start a downside correction. Initial support on the downside is near the $1,900 level.<\/p>\n

The next major support is near the $1,880 zone or the trend line or the 61.8% Fib retracement level of the recent increase from the $1,837 swing low to the $1,929 high. If there is a close below the $1,870 support, the price could revisit the $1,840 support. Any more losses may perhaps send the price toward the $1,800 level.<\/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 $1,870<\/p>\n

Major Resistance Level \u2013 $1,920<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price started a recovery wave above the $1,850 level against the US Dollar. ETH must clear $1,920 to continue higher in the near term.<\/em><\/p>\n

Ethereum is currently showing positive signs above the $1,850 resistance zone.
\nThe price is trading above $1,880 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $1,870 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise further if it clears the $1,920 resistance.<\/p>\n

Ethereum Price Recovers 4%<\/h2>\n

Ethereum\u2019s price remained supported above the $1,750 level. ETH formed a base and recently started a fresh increase above the $1,820 resistance, similar to Bitcoin<\/a>.<\/p>\n

The bulls were able to pump the price above the $1,850 resistance. It even spiked above the $1,900 level. However, the bears are still active near the $1,920 resistance. A high is formed near $1,929 and the price is now consolidating gains.<\/p>\n

Ether is trading above $1,880 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support near $1,870 on the hourly chart of ETH\/USD.<\/p>\n

The price is now trading near the 23.6% Fib retracement level of the recent increase from the $1,837 swing low to the $1,929 high. Immediate resistance is near the $1,920 zone. The next major resistance is near the $1,930 level. A close above the $1,930 resistance could send Ether toward $2,000.<\/p>\n

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

The next resistance sits near $2,050, above which Ethereum could rise toward $2,120. Any more gains above the $2,120 resistance zone could push the price toward the $2,250 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,920 resistance, it could start a downside correction. Initial support on the downside is near the $1,900 level.<\/p>\n

The next major support is near the $1,880 zone or the trend line or the 61.8% Fib retracement level of the recent increase from the $1,837 swing low to the $1,929 high. If there is a close below the $1,870 support, the price could revisit the $1,840 support. Any more losses may perhaps send the price toward the $1,800 level.<\/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 $1,870<\/p>\n

Major Resistance Level \u2013 $1,920<\/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-24707","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\/24707","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=24707"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24707\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24707"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}