{"id":32070,"date":"2023-11-08T04:52:47","date_gmt":"2023-11-08T08:52:47","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=32070"},"modified":"2023-11-08T04:52:47","modified_gmt":"2023-11-08T08:52:47","slug":"ethereum-price-bullish-momentum-fades-but-eth-bulls-still-in-control","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/08\/ethereum-price-bullish-momentum-fades-but-eth-bulls-still-in-control\/","title":{"rendered":"Ethereum Price Bullish Momentum Fades But ETH Bulls Still In Control"},"content":{"rendered":"

Ethereum price is still struggling to clear the $1,920 resistance against the US dollar. ETH is moving lower but downsides might be limited below $1,850.<\/em><\/p>\n

Ethereum is still struggling to clear the $1,920 level.
\nThe price is trading above $1,860 and the 100-hourly Simple Moving Average.
\nThere was a break above a connecting bearish trend line with resistance near $1,880 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise once again unless there is a close below the $1,850 support zone.<\/p>\n

Ethereum Price Stuck In Range<\/h2>\n

Ethereum remained stable above the $1,850 support zone<\/a>. ETH made another attempt to gain bullish momentum above the $1,880 resistance, like Bitcoin<\/a>.<\/p>\n

There was a break above a connecting bearish trend line with resistance near $1,880 on the hourly chart of ETH\/USD. However, the pair again failed to clear the $1,920 resistance zone. A high is formed near $1,907 and the price is moving lower.<\/p>\n

There was a drop below the $1,885 level. The price even tested the 50% Fib retracement level of the recent increase from the $1,851 swing low to the $1,907 high.<\/p>\n

Ethereum is now trading above $1,860 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $1,900 level. The first major resistance sits at $1,920. To start a fresh increase, the bulls need to clear the $1,920 resistance.<\/p>\n

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

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

In the stated case, the price could rally toward the $2,000 resistance. The next key resistance is near $2,050, above which the price could accelerate higher toward the $2,120 level.<\/p>\n

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

If Ethereum fails to clear the $1,900 resistance, it could continue to move down. Initial support on the downside is near the $1,880 level. The next key support is $1,870 or the 100 hourly SMA.<\/p>\n

The 61.8% Fib retracement level of the recent increase from the $1,851 swing low to the $1,907 high is also at $1,870. The main support sits at $1,850. A downside break below the $1,850 support might send Ether further lower. In the stated case, the price could drop toward the $1,780 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 now 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 is still struggling to clear the $1,920 resistance against the US dollar. ETH is moving lower but downsides might be limited below $1,850.<\/em><\/p>\n

Ethereum is still struggling to clear the $1,920 level.
\nThe price is trading above $1,860 and the 100-hourly Simple Moving Average.
\nThere was a break above a connecting bearish trend line with resistance near $1,880 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise once again unless there is a close below the $1,850 support zone.<\/p>\n

Ethereum Price Stuck In Range<\/h2>\n

Ethereum remained stable above the $1,850 support zone<\/a>. ETH made another attempt to gain bullish momentum above the $1,880 resistance, like Bitcoin<\/a>.<\/p>\n

There was a break above a connecting bearish trend line with resistance near $1,880 on the hourly chart of ETH\/USD. However, the pair again failed to clear the $1,920 resistance zone. A high is formed near $1,907 and the price is moving lower.<\/p>\n

There was a drop below the $1,885 level. The price even tested the 50% Fib retracement level of the recent increase from the $1,851 swing low to the $1,907 high.<\/p>\n

Ethereum is now trading above $1,860 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $1,900 level. The first major resistance sits at $1,920. To start a fresh increase, the bulls need to clear the $1,920 resistance.<\/p>\n

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

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

In the stated case, the price could rally toward the $2,000 resistance. The next key resistance is near $2,050, above which the price could accelerate higher toward the $2,120 level.<\/p>\n

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

If Ethereum fails to clear the $1,900 resistance, it could continue to move down. Initial support on the downside is near the $1,880 level. The next key support is $1,870 or the 100 hourly SMA.<\/p>\n

The 61.8% Fib retracement level of the recent increase from the $1,851 swing low to the $1,907 high is also at $1,870. The main support sits at $1,850. A downside break below the $1,850 support might send Ether further lower. In the stated case, the price could drop toward the $1,780 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 now 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-32070","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\/32070","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=32070"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32070\/revisions"}],"predecessor-version":[{"id":32083,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32070\/revisions\/32083"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32070"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}