{"id":34186,"date":"2023-12-15T04:53:14","date_gmt":"2023-12-15T08:53:14","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34186"},"modified":"2023-12-15T04:53:14","modified_gmt":"2023-12-15T08:53:14","slug":"ethereum-price-holds-100-sma-but-needs-to-clear-this-for-more-gains","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/15\/ethereum-price-holds-100-sma-but-needs-to-clear-this-for-more-gains\/","title":{"rendered":"Ethereum Price Holds 100 SMA But Needs To Clear This For More Gains"},"content":{"rendered":"

Ethereum price is consolidating above $2,250. ETH could start a fresh increase if there is a clear move above the $2,320 resistance zone.<\/em><\/p>\n

Ethereum started a fresh increase above the $2,200 and $2,220 levels.
\nThe price is trading above $2,240 and the 100-hourly Simple Moving Average.
\nThere is a key rising channel with support near $2,275 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a steady increase if there is a close above $2,320 and $2,350.<\/p>\n

Ethereum Price Eyes More Upsides<\/h2>\n

Ethereum price started a steady increase above the $2,180 resistance<\/a>. ETH gained bullish momentum after there was a close above the $2,200 resistance.<\/p>\n

The price even spiked above the $2,300 level and settled above the 100-hourly Simple Moving Average. A high was formed near $2,332 and the price is consolidating gains. There was a minor bearish wave below the $2,300 level. However, Ethereum is still above $2,240 and the 100-hourly Simple Moving Average.<\/p>\n

There is also a key rising channel with support near $2,275 on the hourly chart of ETH\/USD. The channel support and the 100 hourly SMA are close to the 23.6% Fib retracement level of the upward move from the $1,980 swing low to the $2,332 high.<\/p>\n

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

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

On the upside, the price is facing resistance near the $2,320 level. The next key resistance is near the $2,350 level. The main resistance is still near $2,400<\/a>. A clear move above the $2,400 zone could send the price toward the $2,500 level. The next resistance sits at $2,520. Any more gains could start a wave toward the $2,580 level.<\/p>\n

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

If Ethereum fails to clear the $2,320 resistance, it could start a fresh decline. Initial support on the downside is near the $2,275 level or the 100-hourly Simple Moving Average and the channel trend line. The next key support is $2,165.<\/p>\n

The main support is now near $2,120 or the 61.8% Fib retracement level of the upward move from the $1,980 swing low to the $2,332 high. A downside break below $2,120 might start another major decline. In the stated case, Ether could revisit the $2,000 support.<\/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 $2,275<\/p>\n

Major Resistance Level \u2013 $2,320<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is consolidating above $2,250. ETH could start a fresh increase if there is a clear move above the $2,320 resistance zone.<\/em><\/p>\n

Ethereum started a fresh increase above the $2,200 and $2,220 levels.
\nThe price is trading above $2,240 and the 100-hourly Simple Moving Average.
\nThere is a key rising channel with support near $2,275 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a steady increase if there is a close above $2,320 and $2,350.<\/p>\n

Ethereum Price Eyes More Upsides<\/h2>\n

Ethereum price started a steady increase above the $2,180 resistance<\/a>. ETH gained bullish momentum after there was a close above the $2,200 resistance.<\/p>\n

The price even spiked above the $2,300 level and settled above the 100-hourly Simple Moving Average. A high was formed near $2,332 and the price is consolidating gains. There was a minor bearish wave below the $2,300 level. However, Ethereum is still above $2,240 and the 100-hourly Simple Moving Average.<\/p>\n

There is also a key rising channel with support near $2,275 on the hourly chart of ETH\/USD. The channel support and the 100 hourly SMA are close to the 23.6% Fib retracement level of the upward move from the $1,980 swing low to the $2,332 high.<\/p>\n

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

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

On the upside, the price is facing resistance near the $2,320 level. The next key resistance is near the $2,350 level. The main resistance is still near $2,400<\/a>. A clear move above the $2,400 zone could send the price toward the $2,500 level. The next resistance sits at $2,520. Any more gains could start a wave toward the $2,580 level.<\/p>\n

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

If Ethereum fails to clear the $2,320 resistance, it could start a fresh decline. Initial support on the downside is near the $2,275 level or the 100-hourly Simple Moving Average and the channel trend line. The next key support is $2,165.<\/p>\n

The main support is now near $2,120 or the 61.8% Fib retracement level of the upward move from the $1,980 swing low to the $2,332 high. A downside break below $2,120 might start another major decline. In the stated case, Ether could revisit the $2,000 support.<\/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 $2,275<\/p>\n

Major Resistance Level \u2013 $2,320<\/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-34186","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\/34186","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=34186"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34186\/revisions"}],"predecessor-version":[{"id":34193,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34186\/revisions\/34193"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34186"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}