{"id":32254,"date":"2023-11-10T05:53:20","date_gmt":"2023-11-10T09:53:20","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=32254"},"modified":"2023-11-10T05:53:20","modified_gmt":"2023-11-10T09:53:20","slug":"ethereum-price-surges-10-heres-why-eth-could-pump-5-more","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/10\/ethereum-price-surges-10-heres-why-eth-could-pump-5-more\/","title":{"rendered":"Ethereum Price Surges 10%, Here\u2019s Why ETH Could Pump 5% More"},"content":{"rendered":"

Ethereum price is up over 10% and surpassed the $2,000 resistance. ETH is outperforming Bitcoin and might rise further toward the $2,200 resistance.<\/em><\/p>\n

Ethereum rallied above the $2,000 and $2,050 levels.
\nThe price is trading above $2,050 and the 100-hourly Simple Moving Average.
\nThere is a short-term rising channel forming with support near $2,115 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move higher toward the $2,200 resistance in the near term.<\/p>\n

Ethereum Price Regains Strength<\/h2>\n

In the past 2-3 analyses, we discussed high chances of Ethereum surging toward the $2,000 level.<\/a> ETH did start a strong increase and broke many hurdles near $1,920.<\/p>\n

It even surged above the $2,000 resistance, outperforming Bitcoin<\/a>. It is up over 10% and consolidating near $2,125. A new multi-week high is formed near $2,137 and the price is now showing more positive signs. There is also a short-term rising channel forming with support near $2,115 on the hourly chart of ETH\/USD.<\/p>\n

It is trading above $2,050 and the 100-hourly Simple Moving Average. The price is also above the 23.6% Fib retracement level of the recent rally from the $1,905 swing low to the $2,137 high.<\/p>\n

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

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

On the upside, the price is facing resistance near the $2,135 level. The next major resistance sits at $2,150, above which the price could accelerate higher. In the stated case, the price could rally toward the $2,200 resistance. The next key resistance is near $2,250, above which the price could aim for a move toward the $2,320 level.<\/p>\n

Buy Dips in ETH?<\/h2>\n

If Ethereum fails to clear the $2,135 resistance, it could start a downside correction. Initial support on the downside is near the $2,115 level and the channel\u2019s trend line.<\/p>\n

The next key support is $2,080. The main support sits at $2,000 or the 61.8% Fib retracement level of the recent rally from the $1,905 swing low to the $2,137 high. A downside break below the $2,000 support might spark bearish moves. In the stated case, Ether could drop toward the 100-hourly Simple Moving Average or even $1,920 in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining 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 $2,080<\/p>\n

Major Resistance Level \u2013 $2,150<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is up over 10% and surpassed the $2,000 resistance. ETH is outperforming Bitcoin and might rise further toward the $2,200 resistance.<\/em><\/p>\n

Ethereum rallied above the $2,000 and $2,050 levels.
\nThe price is trading above $2,050 and the 100-hourly Simple Moving Average.
\nThere is a short-term rising channel forming with support near $2,115 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move higher toward the $2,200 resistance in the near term.<\/p>\n

Ethereum Price Regains Strength<\/h2>\n

In the past 2-3 analyses, we discussed high chances of Ethereum surging toward the $2,000 level.<\/a> ETH did start a strong increase and broke many hurdles near $1,920.<\/p>\n

It even surged above the $2,000 resistance, outperforming Bitcoin<\/a>. It is up over 10% and consolidating near $2,125. A new multi-week high is formed near $2,137 and the price is now showing more positive signs. There is also a short-term rising channel forming with support near $2,115 on the hourly chart of ETH\/USD.<\/p>\n

It is trading above $2,050 and the 100-hourly Simple Moving Average. The price is also above the 23.6% Fib retracement level of the recent rally from the $1,905 swing low to the $2,137 high.<\/p>\n

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

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

On the upside, the price is facing resistance near the $2,135 level. The next major resistance sits at $2,150, above which the price could accelerate higher. In the stated case, the price could rally toward the $2,200 resistance. The next key resistance is near $2,250, above which the price could aim for a move toward the $2,320 level.<\/p>\n

Buy Dips in ETH?<\/h2>\n

If Ethereum fails to clear the $2,135 resistance, it could start a downside correction. Initial support on the downside is near the $2,115 level and the channel\u2019s trend line.<\/p>\n

The next key support is $2,080. The main support sits at $2,000 or the 61.8% Fib retracement level of the recent rally from the $1,905 swing low to the $2,137 high. A downside break below the $2,000 support might spark bearish moves. In the stated case, Ether could drop toward the 100-hourly Simple Moving Average or even $1,920 in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining 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 $2,080<\/p>\n

Major Resistance Level \u2013 $2,150<\/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-32254","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\/32254","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=32254"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32254\/revisions"}],"predecessor-version":[{"id":32270,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32254\/revisions\/32270"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32254"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}