{"id":28017,"date":"2023-08-10T06:52:45","date_gmt":"2023-08-10T10:52:45","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=28017"},"modified":"2023-08-10T06:52:45","modified_gmt":"2023-08-10T10:52:45","slug":"ethereum-price-prints-bullish-technical-pattern-why-close-above-1880-is-critical","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/10\/ethereum-price-prints-bullish-technical-pattern-why-close-above-1880-is-critical\/","title":{"rendered":"Ethereum Price Prints Bullish Technical Pattern, Why Close Above $1,880 Is Critical"},"content":{"rendered":"

Ethereum price is aiming for a fresh increase above the $1,880 zone against the US Dollar. ETH could rally unless there is a close below the $1,830 support.<\/em><\/p>\n

Ethereum is facing major resistance near $1,875 and $1,880.
\nThe price is trading above $1,830 and the 100-hourly Simple Moving Average.
\nThere is a bullish flag pattern forming with resistance near $1,860 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if it clears the $1,860 and $1,880 resistance levels.<\/p>\n

Ethereum Price Holds Support<\/h2>\n

Ethereum\u2019s price started a decent increase from the $1,800 zone. ETH climbed above the $1,850 and $1,860 levels. However, the bears are still active near $1,880, similar to Bitcoin<\/a>.<\/p>\n

A high was formed near $1,876 and the price saw a downside correction. There was a move below the $1,860 level. The price declined below the 23.6% Fib retracement level of the upward move from the $1,800 swing low to the $1,876 high.<\/p>\n

Ether is now trading above $1,830 and the 100-hourly Simple Moving Average<\/a>. There is also a bullish flag pattern forming with resistance near $1,860 on the hourly chart of ETH\/USD.<\/p>\n\n

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

On the upside, immediate resistance is near the $1,860 level and the trend line. The first major resistance is near the $1,875 level. The next key resistance is near the $1,880 level, above which the price might rise toward the $1,920 zone. Any more gains might send the price toward the $2,000 hurdle. A close above the $2,000 level could set the pace for a larger increase.<\/p>\n

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

If Ethereum fails to clear the $1,880 resistance, it could start another decline. Initial support on the downside is near the $1,845 level and the 100-hourly Simple Moving Average.<\/p>\n

The first major support is near the $1,835 zone or the 50% Fib retracement level of the upward move from the $1,800 swing low to the $1,876 high, below which the price might test the $1,820 support zone. The next major support is near the $1,800 support level. Any more losses might start a strong decline to $1,720.<\/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 now below 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 is aiming for a fresh increase above the $1,880 zone against the US Dollar. ETH could rally unless there is a close below the $1,830 support.<\/em><\/p>\n

Ethereum is facing major resistance near $1,875 and $1,880.
\nThe price is trading above $1,830 and the 100-hourly Simple Moving Average.
\nThere is a bullish flag pattern forming with resistance near $1,860 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if it clears the $1,860 and $1,880 resistance levels.<\/p>\n

Ethereum Price Holds Support<\/h2>\n

Ethereum\u2019s price started a decent increase from the $1,800 zone. ETH climbed above the $1,850 and $1,860 levels. However, the bears are still active near $1,880, similar to Bitcoin<\/a>.<\/p>\n

A high was formed near $1,876 and the price saw a downside correction. There was a move below the $1,860 level. The price declined below the 23.6% Fib retracement level of the upward move from the $1,800 swing low to the $1,876 high.<\/p>\n

Ether is now trading above $1,830 and the 100-hourly Simple Moving Average<\/a>. There is also a bullish flag pattern forming with resistance near $1,860 on the hourly chart of ETH\/USD.<\/p>\n

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

On the upside, immediate resistance is near the $1,860 level and the trend line. The first major resistance is near the $1,875 level. The next key resistance is near the $1,880 level, above which the price might rise toward the $1,920 zone. Any more gains might send the price toward the $2,000 hurdle. A close above the $2,000 level could set the pace for a larger increase.<\/p>\n

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

If Ethereum fails to clear the $1,880 resistance, it could start another decline. Initial support on the downside is near the $1,845 level and the 100-hourly Simple Moving Average.<\/p>\n

The first major support is near the $1,835 zone or the 50% Fib retracement level of the upward move from the $1,800 swing low to the $1,876 high, below which the price might test the $1,820 support zone. The next major support is near the $1,800 support level. Any more losses might start a strong decline to $1,720.<\/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 now below 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-28017","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\/28017","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=28017"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28017\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28017"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}