{"id":33724,"date":"2023-12-05T05:52:39","date_gmt":"2023-12-05T09:52:39","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=33724"},"modified":"2023-12-05T05:52:39","modified_gmt":"2023-12-05T09:52:39","slug":"ethereum-price-bull-run-could-extend-by-5-why-eth-could-rally-to-2500","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/05\/ethereum-price-bull-run-could-extend-by-5-why-eth-could-rally-to-2500\/","title":{"rendered":"Ethereum Price Bull Run Could Extend By 5%, Why ETH Could Rally To $2,500"},"content":{"rendered":"

Ethereum price is gaining pace above the $2,200 resistance. ETH is up over 8% and might continue to rise toward the $2,500 resistance in the coming days.<\/em><\/p>\n

Ethereum is gaining pace and recently surpassed the $2,250 resistance.
\nThe price is trading above $2,200 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $2,225 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could extend its rally if it clears the $2,275 resistance zone.<\/p>\n

Ethereum Price Follows Bitcoin<\/h2>\n

Ethereum price started a strong increase above $2,000, like Bitcoin<\/a>. ETH cleared many hurdles near $2,120 to enter a positive zone. The price even surged above the $2,200 level to set the tone for a larger increase.<\/p>\n

A new multi-month high was formed near $2,275 and the price is now consolidating gains<\/a>. There was a minor move below the 23.6% Fib retracement level of the upward move from the $2,148 swing low to the $2,275 high. However, Ethereum is still trading above $2,200 and the 100-hourly Simple Moving Average.<\/p>\n

There is also a key bullish trend line forming with support near $2,225 on the hourly chart of ETH\/USD. On the upside, the price is facing resistance near the $2,250 zone.<\/p>\n

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

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

The next key resistance is near the $2,275 level. A clear move above the $2,275 zone could send the price toward the $2,320 level. The next resistance sits at $2,350. Any more gains could start a wave toward the $2,500 level.<\/p>\n

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

If Ethereum fails to clear the $2,250 resistance, it could start a downside correction. Initial support on the downside is near the $2,220 level and the trend line.<\/p>\n

The next key support is $2,175 or the 76.4% Fib retracement level of the upward move from the $2,148 swing low to the $2,275 high. The main support is now near $2,150 or the 100-hourly Simple Moving Average. A downside break below $2,150 might start a steady decline. The key support is now at $2,080, below which there is a risk of a move toward the $2,020 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 $2,175<\/p>\n

Major Resistance Level \u2013 $2,250<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is gaining pace above the $2,200 resistance. ETH is up over 8% and might continue to rise toward the $2,500 resistance in the coming days.<\/em><\/p>\n

Ethereum is gaining pace and recently surpassed the $2,250 resistance.
\nThe price is trading above $2,200 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $2,225 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could extend its rally if it clears the $2,275 resistance zone.<\/p>\n

Ethereum Price Follows Bitcoin<\/h2>\n

Ethereum price started a strong increase above $2,000, like Bitcoin<\/a>. ETH cleared many hurdles near $2,120 to enter a positive zone. The price even surged above the $2,200 level to set the tone for a larger increase.<\/p>\n

A new multi-month high was formed near $2,275 and the price is now consolidating gains<\/a>. There was a minor move below the 23.6% Fib retracement level of the upward move from the $2,148 swing low to the $2,275 high. However, Ethereum is still trading above $2,200 and the 100-hourly Simple Moving Average.<\/p>\n

There is also a key bullish trend line forming with support near $2,225 on the hourly chart of ETH\/USD. On the upside, the price is facing resistance near the $2,250 zone.<\/p>\n

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

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

The next key resistance is near the $2,275 level. A clear move above the $2,275 zone could send the price toward the $2,320 level. The next resistance sits at $2,350. Any more gains could start a wave toward the $2,500 level.<\/p>\n

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

If Ethereum fails to clear the $2,250 resistance, it could start a downside correction. Initial support on the downside is near the $2,220 level and the trend line.<\/p>\n

The next key support is $2,175 or the 76.4% Fib retracement level of the upward move from the $2,148 swing low to the $2,275 high. The main support is now near $2,150 or the 100-hourly Simple Moving Average. A downside break below $2,150 might start a steady decline. The key support is now at $2,080, below which there is a risk of a move toward the $2,020 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 $2,175<\/p>\n

Major Resistance Level \u2013 $2,250<\/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-33724","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\/33724","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=33724"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33724\/revisions"}],"predecessor-version":[{"id":33734,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33724\/revisions\/33734"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=33724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=33724"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=33724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}