{"id":32867,"date":"2023-11-21T04:53:46","date_gmt":"2023-11-21T08:53:46","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=32867"},"modified":"2023-11-21T04:53:46","modified_gmt":"2023-11-21T08:53:46","slug":"ethereum-price-clears-hurdle-a-strengthening-case-for-more-upsides","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/21\/ethereum-price-clears-hurdle-a-strengthening-case-for-more-upsides\/","title":{"rendered":"Ethereum Price Clears Hurdle \u2013 A Strengthening Case For More Upsides"},"content":{"rendered":"

Ethereum price started a fresh increase above the $1,950 resistance. ETH is consolidating and might aim for a move above the $2,070 resistance.<\/em><\/p>\n

Ethereum remained stable and started a fresh increase above the $1,950 level.
\nThe price is trading above $2,000 and the 100-hourly Simple Moving Average.
\nThere was a break above a major bearish trend line with resistance near $2,010 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move up unless there is a break below the $1,985 support.<\/p>\n

Ethereum Price Eyes More Gains<\/h2>\n

After forming a base above the $1,900 level, Ethereum price started a decent increase. ETH was able to surpass the $1,950 and $1,960 resistance levels, like Bitcoin<\/a>.<\/p>\n

The price even climbed above the $2,000 level and the 100-hourly Simple Moving Average. Besides, there was a break above a major bearish trend line<\/a> with resistance near $2,010 on the hourly chart of ETH\/USD. A high was formed near $2,068 and the price is now consolidating gains.<\/p>\n

It traded below the 23.6% Fib retracement level of the recent increase from the $1,905 swing low to the $2,068 high. However, Ethereum is still above $2,000 and the 100-hourly Simple Moving Average.<\/p>\n

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

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

On the upside, the price is facing resistance near the $2,050 zone. The first key resistance is near the $2,070 level. A clear move above the $2,070 level could spark bullish moves. The next resistance is near $2,120, 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

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

If Ethereum fails to clear the $2,070 resistance, it could start a fresh decline. Initial support on the downside is near the $2,000 level and the 100-hourly Simple Moving Average.<\/p>\n

The next key support is $1,985 or the 50% Fib retracement level of the recent increase from the $1,905 swing low to the $2,068 high. The main support is $1,965. A downside break below the $1,965 support might trigger more losses. In the stated case, Ether could drop toward the $1,905 support zone in the near term.<\/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 $1,985<\/p>\n

Major Resistance Level \u2013 $2,070<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price started a fresh increase above the $1,950 resistance. ETH is consolidating and might aim for a move above the $2,070 resistance.<\/em><\/p>\n

Ethereum remained stable and started a fresh increase above the $1,950 level.
\nThe price is trading above $2,000 and the 100-hourly Simple Moving Average.
\nThere was a break above a major bearish trend line with resistance near $2,010 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move up unless there is a break below the $1,985 support.<\/p>\n

Ethereum Price Eyes More Gains<\/h2>\n

After forming a base above the $1,900 level, Ethereum price started a decent increase. ETH was able to surpass the $1,950 and $1,960 resistance levels, like Bitcoin<\/a>.<\/p>\n

The price even climbed above the $2,000 level and the 100-hourly Simple Moving Average. Besides, there was a break above a major bearish trend line<\/a> with resistance near $2,010 on the hourly chart of ETH\/USD. A high was formed near $2,068 and the price is now consolidating gains.<\/p>\n

It traded below the 23.6% Fib retracement level of the recent increase from the $1,905 swing low to the $2,068 high. However, Ethereum is still above $2,000 and the 100-hourly Simple Moving Average.<\/p>\n

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

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

On the upside, the price is facing resistance near the $2,050 zone. The first key resistance is near the $2,070 level. A clear move above the $2,070 level could spark bullish moves. The next resistance is near $2,120, 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

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

If Ethereum fails to clear the $2,070 resistance, it could start a fresh decline. Initial support on the downside is near the $2,000 level and the 100-hourly Simple Moving Average.<\/p>\n

The next key support is $1,985 or the 50% Fib retracement level of the recent increase from the $1,905 swing low to the $2,068 high. The main support is $1,965. A downside break below the $1,965 support might trigger more losses. In the stated case, Ether could drop toward the $1,905 support zone in the near term.<\/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 $1,985<\/p>\n

Major Resistance Level \u2013 $2,070<\/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-32867","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\/32867","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=32867"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32867\/revisions"}],"predecessor-version":[{"id":32875,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32867\/revisions\/32875"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32867"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}