{"id":34400,"date":"2023-12-22T04:52:48","date_gmt":"2023-12-22T08:52:48","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34400"},"modified":"2023-12-22T04:52:48","modified_gmt":"2023-12-22T08:52:48","slug":"ethereum-price-reaches-key-juncture-can-bulls-pump-eth-to-2500","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/22\/ethereum-price-reaches-key-juncture-can-bulls-pump-eth-to-2500\/","title":{"rendered":"Ethereum Price Reaches Key Juncture \u2013 Can Bulls Pump ETH To $2,500?"},"content":{"rendered":"

Ethereum price is still struggling to clear the $2,265 resistance while Bitcoin extended gains. ETH could rally if there is a close above $2,265 and then $2,320.<\/em><\/p>\n

Ethereum is still struggling to gain pace for a move above the $2,265 resistance zone.
\nThe price is trading above $2,220 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $2,180 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a strong increase if there is a close above $2,265 and $2,320.<\/p>\n

Ethereum Price Aims Higher<\/h2>\n

Ethereum price managed to stay above the $2,200 support zone<\/a>. The bulls protected a major downside break and pushed the price above the $2,220 level.<\/p>\n

There was a push above the $2,250 level, but the bears are still active near the $2,265 resistance zone. A high was formed near $2,264 and the price is now consolidating gains near the 23.6% Fib retracement level of the recent increase from the $2,155 swing low to the $2,264 high.<\/p>\n

Ethereum is now trading above $2,220 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support near $2,180 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price is facing resistance near the $2,265 level. A close above the $2,265 barrier could start a decent increase. The next key resistance is near the $2,320 level. A clear move above the $2,320 zone could send the price toward the $2,400 level.<\/p>\n

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

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

The next resistance sits at $2,420. Any more gains could start a wave toward the $2,500 level, above which Ethereum might rally and test the $2,550 zone.<\/p>\n

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

If Ethereum fails to clear the $2,265 resistance, it could start another decline. Initial support on the downside is near the $2,220 level and the 100 hourly SMA.<\/p>\n

The first key support could be the $2,180 zone and the trend line. A downside break and a close below $2,180 might send the price further lower. In the stated case, Ether could revisit the $2,120 support. Any more losses might send the price toward the $2,000 level in the coming sessions.<\/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 $2,180<\/p>\n

Major Resistance Level \u2013 $2,265<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is still struggling to clear the $2,265 resistance while Bitcoin extended gains. ETH could rally if there is a close above $2,265 and then $2,320.<\/em><\/p>\n

Ethereum is still struggling to gain pace for a move above the $2,265 resistance zone.
\nThe price is trading above $2,220 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $2,180 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a strong increase if there is a close above $2,265 and $2,320.<\/p>\n

Ethereum Price Aims Higher<\/h2>\n

Ethereum price managed to stay above the $2,200 support zone<\/a>. The bulls protected a major downside break and pushed the price above the $2,220 level.<\/p>\n

There was a push above the $2,250 level, but the bears are still active near the $2,265 resistance zone. A high was formed near $2,264 and the price is now consolidating gains near the 23.6% Fib retracement level of the recent increase from the $2,155 swing low to the $2,264 high.<\/p>\n

Ethereum is now trading above $2,220 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support near $2,180 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price is facing resistance near the $2,265 level. A close above the $2,265 barrier could start a decent increase. The next key resistance is near the $2,320 level. A clear move above the $2,320 zone could send the price toward the $2,400 level.<\/p>\n

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

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

The next resistance sits at $2,420. Any more gains could start a wave toward the $2,500 level, above which Ethereum might rally and test the $2,550 zone.<\/p>\n

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

If Ethereum fails to clear the $2,265 resistance, it could start another decline. Initial support on the downside is near the $2,220 level and the 100 hourly SMA.<\/p>\n

The first key support could be the $2,180 zone and the trend line. A downside break and a close below $2,180 might send the price further lower. In the stated case, Ether could revisit the $2,120 support. Any more losses might send the price toward the $2,000 level in the coming sessions.<\/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 $2,180<\/p>\n

Major Resistance Level \u2013 $2,265<\/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-34400","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\/34400","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=34400"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34400\/revisions"}],"predecessor-version":[{"id":34406,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34400\/revisions\/34406"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34400"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}