{"id":33447,"date":"2023-11-30T05:56:21","date_gmt":"2023-11-30T09:56:21","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=33447"},"modified":"2023-11-30T05:56:21","modified_gmt":"2023-11-30T09:56:21","slug":"ethereum-price-rally-in-jeopardy-key-supports-to-watch-out-in-short-term","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/30\/ethereum-price-rally-in-jeopardy-key-supports-to-watch-out-in-short-term\/","title":{"rendered":"Ethereum Price Rally In Jeopardy? Key Supports To Watch Out In Short-Term"},"content":{"rendered":"

Ethereum price corrected lower below $2,050. ETH is now consolidating above the $2,020 support and might start a fresh increase in the near term.<\/em><\/p>\n

Ethereum is still struggling to climb above the $2,075 and $2,080 resistance levels.
\nThe price is trading below $2,050 and the 100-hourly Simple Moving Average.
\nThere was a break below a key bullish trend line with support at $2,040 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if it clears the 100-hourly Simple Moving Average and then $2,075.<\/p>\n

Ethereum Price Trims Gains<\/h2>\n

Ethereum price struggled to clear the $2,075 resistance zone. The bears took control and pushed ETH below the $2,050 level. However, Bitcoin<\/a> managed to stay above the $37,550 support zone.<\/p>\n

ETH traded below the 50% Fib retracement level of the upward move from the $1,986 swing low to the $2,076 high. Besides, there was a break below a key bullish trend line with support at $2,040 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum is now trading below $2,050 and the 100-hourly Simple Moving Average. It is now consolidating above the $2,020 support zone<\/a>. On the upside, the price is facing resistance near the $2,00 zone and the 100-hourly Simple Moving Average.<\/p>\n

The first key resistance is near the $2,075 level. The next resistance sits at $2,090. A clear move above the $2,090 level could send the price toward the $2,130 resistance zone.<\/p>\n

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

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

The next resistance is near $2,200, above which the price could aim for a move toward the $2,250 level. Any more gains could start a wave toward the $2,320 level.<\/p>\n

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

If Ethereum fails to clear the $2,050 resistance, it could continue to move down. Initial support on the downside is near the $2,020 level. The next key support is $2,000.<\/p>\n

A downside break below $2,000 might start a steady decline. 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 bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n

Major Support Level \u2013 $2,020<\/p>\n

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

<\/p>\n

Ethereum price corrected lower below $2,050. ETH is now consolidating above the $2,020 support and might start a fresh increase in the near term.<\/em><\/p>\n

Ethereum is still struggling to climb above the $2,075 and $2,080 resistance levels.
\nThe price is trading below $2,050 and the 100-hourly Simple Moving Average.
\nThere was a break below a key bullish trend line with support at $2,040 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if it clears the 100-hourly Simple Moving Average and then $2,075.<\/p>\n

Ethereum Price Trims Gains<\/h2>\n

Ethereum price struggled to clear the $2,075 resistance zone. The bears took control and pushed ETH below the $2,050 level. However, Bitcoin<\/a> managed to stay above the $37,550 support zone.<\/p>\n

ETH traded below the 50% Fib retracement level of the upward move from the $1,986 swing low to the $2,076 high. Besides, there was a break below a key bullish trend line with support at $2,040 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum is now trading below $2,050 and the 100-hourly Simple Moving Average. It is now consolidating above the $2,020 support zone<\/a>. On the upside, the price is facing resistance near the $2,00 zone and the 100-hourly Simple Moving Average.<\/p>\n

The first key resistance is near the $2,075 level. The next resistance sits at $2,090. A clear move above the $2,090 level could send the price toward the $2,130 resistance zone.<\/p>\n

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

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

The next resistance is near $2,200, above which the price could aim for a move toward the $2,250 level. Any more gains could start a wave toward the $2,320 level.<\/p>\n

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

If Ethereum fails to clear the $2,050 resistance, it could continue to move down. Initial support on the downside is near the $2,020 level. The next key support is $2,000.<\/p>\n

A downside break below $2,000 might start a steady decline. 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 bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n

Major Support Level \u2013 $2,020<\/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-33447","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\/33447","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=33447"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33447\/revisions"}],"predecessor-version":[{"id":33460,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33447\/revisions\/33460"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=33447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=33447"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=33447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}