{"id":32605,"date":"2023-11-16T05:53:11","date_gmt":"2023-11-16T09:53:11","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=32605"},"modified":"2023-11-16T05:53:11","modified_gmt":"2023-11-16T09:53:11","slug":"ethereum-price-bullish-momentum-reignites-can-bulls-pust-eth-to-2200","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/16\/ethereum-price-bullish-momentum-reignites-can-bulls-pust-eth-to-2200\/","title":{"rendered":"Ethereum Price Bullish Momentum Reignites \u2013 Can Bulls Pust ETH To $2,200?"},"content":{"rendered":"

Ethereum price remained strong and started a fresh increase above $2,000. ETH could continue to rise if it clears the $2,075 resistance zone.<\/em><\/p>\n

Ethereum is again moving higher above the $2,000 support zone.
\nThe price is trading above $2,000 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $2,046 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could accelerate higher if it clears the $2,075 resistance zone in the near term.<\/p>\n

Ethereum Price Reclaims $2K<\/h2>\n

After a downside correction, Ethereum price found support near the $1,920 zone. ETH traded as low as $1,933 and recently started a fresh increase like Bitcoin<\/a>. There was a clear move above the $1,950 and $1,975 resistance levels.<\/p>\n

There was a close above the 50% Fib retracement level of the downward move from the $2,118 swing high to the $1,933 low. Finally, it settled above the main $2,000 resistance zone<\/a>.<\/p>\n

Ethereum is now trading above $2,000 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $2,046 on the hourly chart of ETH\/USD. Immediate resistance is near the $2,075 zone. It is close to the 76.4% Fib retracement level of the downward move from the $2,118 swing high to the $1,933 low.<\/p>\n

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

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

The next major resistance sits at $2,120. A close above the $2,120 resistance could start another strong increase. The first resistance is near $2,150, above which the price could aim for a move toward the $2,200 level. Any more gains could start a wave toward the $2,250 level.<\/p>\n

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

If Ethereum fails to clear the $2,075 resistance or the $2,120 pivot level, it could start a fresh decline. Initial support on the downside is near the $2,045 level or the trend line.<\/p>\n

The next key support is $2,025 or the 100-hourly Simple Moving Average. The main support is $2,000. A downside break below the $2,000 support might start a steady decline. In the stated case, Ether could drop toward the $1,920 support zone in the near term. Any more losses might call for a drop toward the $1,850 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 $2,025<\/p>\n

Major Resistance Level \u2013 $2,120<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price remained strong and started a fresh increase above $2,000. ETH could continue to rise if it clears the $2,075 resistance zone.<\/em><\/p>\n

Ethereum is again moving higher above the $2,000 support zone.
\nThe price is trading above $2,000 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $2,046 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could accelerate higher if it clears the $2,075 resistance zone in the near term.<\/p>\n

Ethereum Price Reclaims $2K<\/h2>\n

After a downside correction, Ethereum price found support near the $1,920 zone. ETH traded as low as $1,933 and recently started a fresh increase like Bitcoin<\/a>. There was a clear move above the $1,950 and $1,975 resistance levels.<\/p>\n

There was a close above the 50% Fib retracement level of the downward move from the $2,118 swing high to the $1,933 low. Finally, it settled above the main $2,000 resistance zone<\/a>.<\/p>\n

Ethereum is now trading above $2,000 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $2,046 on the hourly chart of ETH\/USD. Immediate resistance is near the $2,075 zone. It is close to the 76.4% Fib retracement level of the downward move from the $2,118 swing high to the $1,933 low.<\/p>\n

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

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

The next major resistance sits at $2,120. A close above the $2,120 resistance could start another strong increase. The first resistance is near $2,150, above which the price could aim for a move toward the $2,200 level. Any more gains could start a wave toward the $2,250 level.<\/p>\n

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

If Ethereum fails to clear the $2,075 resistance or the $2,120 pivot level, it could start a fresh decline. Initial support on the downside is near the $2,045 level or the trend line.<\/p>\n

The next key support is $2,025 or the 100-hourly Simple Moving Average. The main support is $2,000. A downside break below the $2,000 support might start a steady decline. In the stated case, Ether could drop toward the $1,920 support zone in the near term. Any more losses might call for a drop toward the $1,850 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 $2,025<\/p>\n

Major Resistance Level \u2013 $2,120<\/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-32605","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\/32605","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=32605"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32605\/revisions"}],"predecessor-version":[{"id":32616,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32605\/revisions\/32616"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32605"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}