{"id":33647,"date":"2023-12-04T05:52:36","date_gmt":"2023-12-04T09:52:36","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=33647"},"modified":"2023-12-04T05:52:36","modified_gmt":"2023-12-04T09:52:36","slug":"ethereum-price-breaks-2200-more-upsides-left-in-this-leg","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/04\/ethereum-price-breaks-2200-more-upsides-left-in-this-leg\/","title":{"rendered":"Ethereum Price Breaks $2,200, More Upsides Left In This Leg?"},"content":{"rendered":"

Ethereum price jumped above the $2,100 level and cleared $2,200. ETH is gaining pace and might surge further above the $2,220 level.<\/em><\/p>\n

Ethereum is showing a lot of positive signs and recently cleared the $2,200 resistance.
\nThe price is trading above $2,150 and the 100-hourly Simple Moving Average.
\nThere is a connecting bullish trend line forming with support near $2,190 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could extend its rally if it clears the $2,220 resistance zone.<\/p>\n

Ethereum Price Jumps 5%<\/h2>\n

Ethereum price remained well-bid after it settled above the $2,000 level. ETH gained bullish momentum and cleared the $2,120 resistance. The bulls even pumped it above the $2,200 level, like Bitcoin<\/a> above $40,000.<\/p>\n

A new multi-month high was formed near $2,229 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $2,147 swing low to the $2,229 high. There is also a connecting bullish trend line forming with support near $2,190 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum is now trading above $2,180 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price is facing resistance near the $2,220 zone.<\/p>\n

The first key resistance is near the $2,250 level. The next resistance sits at $2,320. A clear move above the $2,320 level could send the price toward the $2,450 resistance zone.<\/p>\n

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

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

The next resistance is near $2,500, above which the price could aim for a move toward the $2,650 level. Any more gains could start a wave toward the $2,800 level.<\/p>\n

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

If Ethereum fails to clear the $2,220 resistance, it could start a downside correction. Initial support on the downside is near the $2,190 level and the trend line.<\/p>\n

The next key support is $2,165 or the 76.4% Fib retracement level of the upward move from the $2,147 swing low to the $2,229 high. The main support is now near $2,120. A downside break below $2,120 might start a steady decline. The key support is now at $2,050, below which there is a risk of a move toward the $2,000 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 $2,165<\/p>\n

Major Resistance Level \u2013 $2,220<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price jumped above the $2,100 level and cleared $2,200. ETH is gaining pace and might surge further above the $2,220 level.<\/em><\/p>\n

Ethereum is showing a lot of positive signs and recently cleared the $2,200 resistance.
\nThe price is trading above $2,150 and the 100-hourly Simple Moving Average.
\nThere is a connecting bullish trend line forming with support near $2,190 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could extend its rally if it clears the $2,220 resistance zone.<\/p>\n

Ethereum Price Jumps 5%<\/h2>\n

Ethereum price remained well-bid after it settled above the $2,000 level. ETH gained bullish momentum and cleared the $2,120 resistance. The bulls even pumped it above the $2,200 level, like Bitcoin<\/a> above $40,000.<\/p>\n

A new multi-month high was formed near $2,229 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $2,147 swing low to the $2,229 high. There is also a connecting bullish trend line forming with support near $2,190 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum is now trading above $2,180 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price is facing resistance near the $2,220 zone.<\/p>\n

The first key resistance is near the $2,250 level. The next resistance sits at $2,320. A clear move above the $2,320 level could send the price toward the $2,450 resistance zone.<\/p>\n

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

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

The next resistance is near $2,500, above which the price could aim for a move toward the $2,650 level. Any more gains could start a wave toward the $2,800 level.<\/p>\n

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

If Ethereum fails to clear the $2,220 resistance, it could start a downside correction. Initial support on the downside is near the $2,190 level and the trend line.<\/p>\n

The next key support is $2,165 or the 76.4% Fib retracement level of the upward move from the $2,147 swing low to the $2,229 high. The main support is now near $2,120. A downside break below $2,120 might start a steady decline. The key support is now at $2,050, below which there is a risk of a move toward the $2,000 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 $2,165<\/p>\n

Major Resistance Level \u2013 $2,220<\/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-33647","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\/33647","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=33647"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33647\/revisions"}],"predecessor-version":[{"id":33659,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33647\/revisions\/33659"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=33647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=33647"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=33647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}