{"id":32674,"date":"2023-11-17T04:52:44","date_gmt":"2023-11-17T08:52:44","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=32674"},"modified":"2023-11-17T04:52:44","modified_gmt":"2023-11-17T08:52:44","slug":"ethereum-price-holds-ground-indicators-suggest-fresh-surge-to-2120","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/17\/ethereum-price-holds-ground-indicators-suggest-fresh-surge-to-2120\/","title":{"rendered":"Ethereum Price Holds Ground \u2013 Indicators Suggest Fresh Surge To $2,120"},"content":{"rendered":"

Ethereum price corrected lower and tested the $1,935 support. ETH is likely forming a double-bottom and might start a decent increase.<\/em><\/p>\n

Ethereum reacted to the downside and tested the $1,935 support.
\nThe price is trading below $2,020 and the 100-hourly Simple Moving Average.
\nThere was a break below a key contracting triangle with support near $2,025 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair is likely forming a double-bottom pattern and might outperform Bitcoin.<\/p>\n

Ethereum Price Revisit $1,935<\/h2>\n

After facing rejection near the $2,090 zone<\/a>, Ethereum price reacted to the downside. ETH traded below the $2,050 and $2,020 support level to enter a short-term bearish zone, like Bitcoin.<\/p>\n

There was also a break below a key contracting triangle with support near $2,025 on the hourly chart of ETH\/USD. However, the bulls took a stand near the $1,935 support zone. It seems like Ether is likely forming a double-bottom pattern, while Bitcoin is forming a double-top near $38,000<\/a>.<\/p>\n

Ethereum is now trading above the 23.6% Fib retracement level of the downward move from the $2,092 swing high to the $1,935 low. Immediate resistance is near the $2,000 zone.<\/p>\n

The first major resistance is near $2,020 or the 100-hourly Simple Moving Average. It is near the 61.8% Fib retracement level of the downward move from the $2,092 swing high to the $1,935 low. A close above the $2,020 resistance could start another strong increase.<\/p>\n

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

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

The next resistance is near $2,090, above which the price could aim for a move toward the $2,120 level. Any more gains could start a wave toward the $2,200 level.<\/p>\n

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

If Ethereum fails to clear the $2,020 resistance, it could start a fresh decline. Initial support on the downside is near the $1,950 level. The next key support is $1,935.<\/p>\n

The main support is $1,920. A downside break below the $1,920 support might start a steady decline. In the stated case, Ether could drop toward the $1,850 support zone in the near term. Any more losses might call for a drop toward the $1,800 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 below the 50 level.<\/p>\n

Major Support Level \u2013 $1,935<\/p>\n

Major Resistance Level \u2013 $2,020<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price corrected lower and tested the $1,935 support. ETH is likely forming a double-bottom and might start a decent increase.<\/em><\/p>\n

Ethereum reacted to the downside and tested the $1,935 support.
\nThe price is trading below $2,020 and the 100-hourly Simple Moving Average.
\nThere was a break below a key contracting triangle with support near $2,025 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair is likely forming a double-bottom pattern and might outperform Bitcoin.<\/p>\n

Ethereum Price Revisit $1,935<\/h2>\n

After facing rejection near the $2,090 zone<\/a>, Ethereum price reacted to the downside. ETH traded below the $2,050 and $2,020 support level to enter a short-term bearish zone, like Bitcoin.<\/p>\n

There was also a break below a key contracting triangle with support near $2,025 on the hourly chart of ETH\/USD. However, the bulls took a stand near the $1,935 support zone. It seems like Ether is likely forming a double-bottom pattern, while Bitcoin is forming a double-top near $38,000<\/a>.<\/p>\n

Ethereum is now trading above the 23.6% Fib retracement level of the downward move from the $2,092 swing high to the $1,935 low. Immediate resistance is near the $2,000 zone.<\/p>\n

The first major resistance is near $2,020 or the 100-hourly Simple Moving Average. It is near the 61.8% Fib retracement level of the downward move from the $2,092 swing high to the $1,935 low. A close above the $2,020 resistance could start another strong increase.<\/p>\n

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

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

The next resistance is near $2,090, above which the price could aim for a move toward the $2,120 level. Any more gains could start a wave toward the $2,200 level.<\/p>\n

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

If Ethereum fails to clear the $2,020 resistance, it could start a fresh decline. Initial support on the downside is near the $1,950 level. The next key support is $1,935.<\/p>\n

The main support is $1,920. A downside break below the $1,920 support might start a steady decline. In the stated case, Ether could drop toward the $1,850 support zone in the near term. Any more losses might call for a drop toward the $1,800 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 below the 50 level.<\/p>\n

Major Support Level \u2013 $1,935<\/p>\n

Major Resistance Level \u2013 $2,020<\/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-32674","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\/32674","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=32674"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32674\/revisions"}],"predecessor-version":[{"id":32684,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32674\/revisions\/32684"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32674"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}