{"id":33521,"date":"2023-12-01T03:56:16","date_gmt":"2023-12-01T07:56:16","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=33521"},"modified":"2023-12-01T03:56:16","modified_gmt":"2023-12-01T07:56:16","slug":"ethereum-price-momentum-reignites-rsi-signals-rally-to-2200","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/01\/ethereum-price-momentum-reignites-rsi-signals-rally-to-2200\/","title":{"rendered":"Ethereum Price Momentum Reignites, RSI Signals Rally To $2,200"},"content":{"rendered":"

Ethereum price remained well-bid above the $2,020 level. ETH is now rising, and the bulls seem to be aiming for a move toward the $2,200 level.<\/em><\/p>\n

Ethereum is making a fresh attempt to clear the $2,100 and $2,120 resistance levels.
\nThe price is trading above $2,050 and the 100-hourly Simple Moving Average.
\nThere was a break above a major contracting triangle with resistance near $2,055 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if it clears the $2,120 resistance zone.<\/p>\n

Ethereum Price Regains Strength<\/h2>\n

Ethereum price started a downside correction below the $2,050 level. ETH tested the $2,020 support, where the bulls took a stand. A low was formed near $2,019 before the price climbed higher, like Bitcoin<\/a>.<\/p>\n

The price cleared the $2,050 resistance zone. There was a break above a major contracting triangle with resistance near $2,055 on the hourly chart of ETH\/USD. The pair climbed above the 50% Fib retracement level of the downward move from the $2,126 swing high to the $1,986 low.<\/p>\n

Ethereum is now trading above $2,050 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price is facing resistance near the $2,095 zone or the 76.4% Fib retracement level of the downward move from the $2,126 swing high to the $1,986 low.<\/p>\n

The first key resistance is near the $2,100 level. The next resistance sits at $2,120. A clear move above the $2,120 level could send the price toward the $2,200 resistance zone.<\/p>\n

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

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

The next resistance is near $2,250, above which the price could aim for a move toward the $2,320 level. Any more gains could start a wave toward the $2,440 level.<\/p>\n

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

If Ethereum fails to clear the $2,100 resistance, it could start another decline. Initial support on the downside is near the $2,055 level. The next key support is $2,040.<\/p>\n

The main support is now near $2,000. A downside break below $2,000 might start a steady decline. The key support is now at $1,920, 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 gaining 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 $2,050<\/p>\n

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

<\/p>\n

Ethereum price remained well-bid above the $2,020 level. ETH is now rising, and the bulls seem to be aiming for a move toward the $2,200 level.<\/em><\/p>\n

Ethereum is making a fresh attempt to clear the $2,100 and $2,120 resistance levels.
\nThe price is trading above $2,050 and the 100-hourly Simple Moving Average.
\nThere was a break above a major contracting triangle with resistance near $2,055 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if it clears the $2,120 resistance zone.<\/p>\n

Ethereum Price Regains Strength<\/h2>\n

Ethereum price started a downside correction below the $2,050 level. ETH tested the $2,020 support, where the bulls took a stand. A low was formed near $2,019 before the price climbed higher, like Bitcoin<\/a>.<\/p>\n

The price cleared the $2,050 resistance zone. There was a break above a major contracting triangle with resistance near $2,055 on the hourly chart of ETH\/USD. The pair climbed above the 50% Fib retracement level of the downward move from the $2,126 swing high to the $1,986 low.<\/p>\n

Ethereum is now trading above $2,050 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price is facing resistance near the $2,095 zone or the 76.4% Fib retracement level of the downward move from the $2,126 swing high to the $1,986 low.<\/p>\n

The first key resistance is near the $2,100 level. The next resistance sits at $2,120. A clear move above the $2,120 level could send the price toward the $2,200 resistance zone.<\/p>\n

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

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

The next resistance is near $2,250, above which the price could aim for a move toward the $2,320 level. Any more gains could start a wave toward the $2,440 level.<\/p>\n

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

If Ethereum fails to clear the $2,100 resistance, it could start another decline. Initial support on the downside is near the $2,055 level. The next key support is $2,040.<\/p>\n

The main support is now near $2,000. A downside break below $2,000 might start a steady decline. The key support is now at $1,920, 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 gaining 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 $2,050<\/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-33521","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\/33521","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=33521"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33521\/revisions"}],"predecessor-version":[{"id":33530,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33521\/revisions\/33530"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=33521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=33521"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=33521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}