{"id":31867,"date":"2023-11-03T04:52:36","date_gmt":"2023-11-03T08:52:36","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=31867"},"modified":"2023-11-03T04:52:36","modified_gmt":"2023-11-03T08:52:36","slug":"ethereum-price-breaking-this-confluence-resistance-could-spark-fresh-surge","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/03\/ethereum-price-breaking-this-confluence-resistance-could-spark-fresh-surge\/","title":{"rendered":"Ethereum Price Breaking This Confluence Resistance Could Spark Fresh Surge"},"content":{"rendered":"

Ethereum price corrected lower from the $1,875 zone against the US dollar. ETH retested the $1,780 zone and might soon attempt a fresh surge.<\/em><\/p>\n

Ethereum holds the key support at $1,780 and $1,750.
\nThe price is trading below $1,820 and the 100-hourly Simple Moving Average.
\nThere was a break above a steep bearish trend line with resistance near $1,795 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase toward the $1,850 and $1,875 resistance levels.<\/p>\n

Ethereum Price Revisits Uptrend Support<\/h2>\n

Ethereum attempted a fresh increase above the $1,850 resistance but upsides were limited, like Bitcoin<\/a>. ETH traded as high as $1,874 and recently started a downside correction.<\/p>\n

There was a move below the $1,850 and $1,820 levels. The price even spiked below the $1,800 level and the 100-hourly Simple Moving Average. It retested the $1,780 support zone. A low is formed near $1,777 and the price is now attempting another increase.<\/p>\n

There was a break above a steep bearish trend line with resistance near $1,795 on the hourly chart of ETH\/USD. Ethereum is now trading near the 23.6% Fib retracement level of the recent drop from the $1,874 swing high to the $1,777 low.<\/p>\n

On the upside, the price is facing resistance near the $1,810 level and the 100-hourly Simple Moving Average<\/a>. The first major resistance sits at $1,825 or the 50% Fib retracement level of the recent drop from the $1,874 swing high to the $1,777 low.<\/p>\n

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

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

If ETH surpasses the $1,825 resistance, it could again start a steady increase and test $1,875. The next key resistance is near $1,920, above which the price could accelerate higher toward the $2,0000 level. Any more gains might call for a move toward the $2,050 level.<\/p>\n

More Losses in ETH?<\/h2>\n

If Ethereum fails to clear the $1,825 resistance, it could continue to move down. Initial support on the downside is near the $1,780 level or the recent low.<\/p>\n

The next key support is $1,750. A downside break below the $1,750 support might spark a bearish wave. In the stated case, Ether could drop toward the $1,650 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,780<\/p>\n

Major Resistance Level \u2013 $1,825<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price corrected lower from the $1,875 zone against the US dollar. ETH retested the $1,780 zone and might soon attempt a fresh surge.<\/em><\/p>\n

Ethereum holds the key support at $1,780 and $1,750.
\nThe price is trading below $1,820 and the 100-hourly Simple Moving Average.
\nThere was a break above a steep bearish trend line with resistance near $1,795 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase toward the $1,850 and $1,875 resistance levels.<\/p>\n

Ethereum Price Revisits Uptrend Support<\/h2>\n

Ethereum attempted a fresh increase above the $1,850 resistance but upsides were limited, like Bitcoin<\/a>. ETH traded as high as $1,874 and recently started a downside correction.<\/p>\n

There was a move below the $1,850 and $1,820 levels. The price even spiked below the $1,800 level and the 100-hourly Simple Moving Average. It retested the $1,780 support zone. A low is formed near $1,777 and the price is now attempting another increase.<\/p>\n

There was a break above a steep bearish trend line with resistance near $1,795 on the hourly chart of ETH\/USD. Ethereum is now trading near the 23.6% Fib retracement level of the recent drop from the $1,874 swing high to the $1,777 low.<\/p>\n

On the upside, the price is facing resistance near the $1,810 level and the 100-hourly Simple Moving Average<\/a>. The first major resistance sits at $1,825 or the 50% Fib retracement level of the recent drop from the $1,874 swing high to the $1,777 low.<\/p>\n

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

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

If ETH surpasses the $1,825 resistance, it could again start a steady increase and test $1,875. The next key resistance is near $1,920, above which the price could accelerate higher toward the $2,0000 level. Any more gains might call for a move toward the $2,050 level.<\/p>\n

More Losses in ETH?<\/h2>\n

If Ethereum fails to clear the $1,825 resistance, it could continue to move down. Initial support on the downside is near the $1,780 level or the recent low.<\/p>\n

The next key support is $1,750. A downside break below the $1,750 support might spark a bearish wave. In the stated case, Ether could drop toward the $1,650 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,780<\/p>\n

Major Resistance Level \u2013 $1,825<\/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-31867","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\/31867","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=31867"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31867\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31867"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}