{"id":33368,"date":"2023-11-29T04:52:51","date_gmt":"2023-11-29T08:52:51","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=33368"},"modified":"2023-11-29T04:52:51","modified_gmt":"2023-11-29T08:52:51","slug":"ethereum-price-recovers-why-100-sma-is-the-key-to-fresh-increase","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/29\/ethereum-price-recovers-why-100-sma-is-the-key-to-fresh-increase\/","title":{"rendered":"Ethereum Price Recovers, Why 100 SMA Is The Key To Fresh Increase"},"content":{"rendered":"

Ethereum price recovered from the $1,985 zone. ETH is showing positive signs and might rise further if it clears the $2,075 resistance.<\/em><\/p>\n

Ethereum is recovering higher from the $1,985 zone.
\nThe price is trading above $2,040 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance near $2,040 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if it stays above the 100-hourly Simple Moving Average.<\/p>\n

Ethereum Price Eyes Fresh Increase<\/h2>\n

Ethereum price spiked before the $2,000 support before the bulls appeared. ETH traded as low as $1,986 and recently started a recovery wave, like Bitcoin<\/a>.<\/p>\n

There was a decent increase above the $2,020 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $2,132 swing high to the $1,986 low. Besides, there was a break above a key bearish trend line with resistance near $2,040 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum is now trading above $2,040 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price is facing resistance near the $2,075 zone. It is close to the 61.8% Fib retracement level of the downward move from the $2,132 swing high to the $1,986 low.<\/p>\n

The first key resistance is near the $2,100 level. The next resistance sits at $2,130. A clear move above the $2,130 level could send the price toward the $2,150 resistance zone.<\/p>\n

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

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

The next resistance is near $2,220, above which the price could aim for a move toward the $2,265 level. Any more gains could start a wave toward the $2,320 level.<\/p>\n

Another Decline in ETH?<\/h2>\n

If Ethereum fails to clear the $2,075 resistance, it could start a fresh decline. Initial support on the downside is near the $2,045 level and the 100-hourly Simple Moving Average, below which the bears might gain strength.<\/p>\n

The next key support is $2,000. A downside break below $2,000 might spark a strong bearish move. The key support is now at $1,930, below which there is a risk of a move toward the $1,880 level 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 $2,045<\/p>\n

Major Resistance Level \u2013 $2,075<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price recovered from the $1,985 zone. ETH is showing positive signs and might rise further if it clears the $2,075 resistance.<\/em><\/p>\n

Ethereum is recovering higher from the $1,985 zone.
\nThe price is trading above $2,040 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance near $2,040 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if it stays above the 100-hourly Simple Moving Average.<\/p>\n

Ethereum Price Eyes Fresh Increase<\/h2>\n

Ethereum price spiked before the $2,000 support before the bulls appeared. ETH traded as low as $1,986 and recently started a recovery wave, like Bitcoin<\/a>.<\/p>\n

There was a decent increase above the $2,020 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $2,132 swing high to the $1,986 low. Besides, there was a break above a key bearish trend line with resistance near $2,040 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum is now trading above $2,040 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price is facing resistance near the $2,075 zone. It is close to the 61.8% Fib retracement level of the downward move from the $2,132 swing high to the $1,986 low.<\/p>\n

The first key resistance is near the $2,100 level. The next resistance sits at $2,130. A clear move above the $2,130 level could send the price toward the $2,150 resistance zone.<\/p>\n

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

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

The next resistance is near $2,220, above which the price could aim for a move toward the $2,265 level. Any more gains could start a wave toward the $2,320 level.<\/p>\n

Another Decline in ETH?<\/h2>\n

If Ethereum fails to clear the $2,075 resistance, it could start a fresh decline. Initial support on the downside is near the $2,045 level and the 100-hourly Simple Moving Average, below which the bears might gain strength.<\/p>\n

The next key support is $2,000. A downside break below $2,000 might spark a strong bearish move. The key support is now at $1,930, below which there is a risk of a move toward the $1,880 level 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 $2,045<\/p>\n

Major Resistance Level \u2013 $2,075<\/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-33368","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\/33368","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=33368"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33368\/revisions"}],"predecessor-version":[{"id":33378,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33368\/revisions\/33378"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=33368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=33368"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=33368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}