{"id":34550,"date":"2023-12-28T02:53:17","date_gmt":"2023-12-28T06:53:17","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34550"},"modified":"2023-12-28T02:53:17","modified_gmt":"2023-12-28T06:53:17","slug":"ethereum-price-surges-5-as-eth-bulls-finally-take-over-2550-next","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/28\/ethereum-price-surges-5-as-eth-bulls-finally-take-over-2550-next\/","title":{"rendered":"Ethereum Price Surges 5% As ETH Bulls Finally Take Over, $2,550 Next?"},"content":{"rendered":"

Ethereum price is gaining pace above the $2,320 resistance zone. ETH is up over 5% and it seems like ETH is finally outperforming Bitcoin.<\/em><\/p>\n

Ethereum is gaining pace and trading above the $2,300 support zone.
\nThe price is trading above $2,350 and the 100-hourly Simple Moving Average.
\nThere is a connecting bullish trend line forming with support at $2,380 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could extend its rally toward the $2,500 and $2,550 resistance levels.<\/p>\n

Ethereum Price Starts Fresh Rally<\/h2>\n

Ethereum price extended its decline below the $2,250 level. ETH even spiked below the $2,200 level before the bulls appeared. A low was formed near $2,180 and the price started a strong increase, outperforming Bitcoin<\/a>.<\/p>\n

There was a move above the $2,250 and $2,280 resistance levels<\/a>. The bulls even pumped the price above the $2,350 resistance. A new multi-day high is formed near $2,441 and the price is now consolidating gains. The price is now trading above the 23.6% Fib retracement level of the upward move from the $2,180 swing low to the $2,441 high.<\/p>\n

Ethereum is now trading above $2,350 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,440 level.<\/p>\n

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

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

The first major resistance is now near $2,500. A close above the $2,500 resistance could send the price toward $2,500. The next key resistance is near $2,620. A clear move above the $2,620 zone could start another increase. The next resistance sits at $2,700, above which Ethereum might rally and test the $2,800 zone.<\/p>\n

Downside Correction in ETH?<\/h2>\n

If Ethereum fails to clear the $2,440 resistance, it could start a fresh decline. Initial support on the downside is near the $2,380 level and the trend line.<\/p>\n

The first key support could be the $2,320 zone or the 50% Fib retracement level of the upward move from the $2,180 swing low to the $2,441 high. A downside break and a close below $2,320 might spark more bearish moves. In the stated case, Ether could revisit the $2,200 support. Any more losses might send the price toward the $2,120 level.<\/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 $2,320<\/p>\n

Major Resistance Level \u2013 $2,440<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is gaining pace above the $2,320 resistance zone. ETH is up over 5% and it seems like ETH is finally outperforming Bitcoin.<\/em><\/p>\n

Ethereum is gaining pace and trading above the $2,300 support zone.
\nThe price is trading above $2,350 and the 100-hourly Simple Moving Average.
\nThere is a connecting bullish trend line forming with support at $2,380 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could extend its rally toward the $2,500 and $2,550 resistance levels.<\/p>\n

Ethereum Price Starts Fresh Rally<\/h2>\n

Ethereum price extended its decline below the $2,250 level. ETH even spiked below the $2,200 level before the bulls appeared. A low was formed near $2,180 and the price started a strong increase, outperforming Bitcoin<\/a>.<\/p>\n

There was a move above the $2,250 and $2,280 resistance levels<\/a>. The bulls even pumped the price above the $2,350 resistance. A new multi-day high is formed near $2,441 and the price is now consolidating gains. The price is now trading above the 23.6% Fib retracement level of the upward move from the $2,180 swing low to the $2,441 high.<\/p>\n

Ethereum is now trading above $2,350 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,440 level.<\/p>\n

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

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

The first major resistance is now near $2,500. A close above the $2,500 resistance could send the price toward $2,500. The next key resistance is near $2,620. A clear move above the $2,620 zone could start another increase. The next resistance sits at $2,700, above which Ethereum might rally and test the $2,800 zone.<\/p>\n

Downside Correction in ETH?<\/h2>\n

If Ethereum fails to clear the $2,440 resistance, it could start a fresh decline. Initial support on the downside is near the $2,380 level and the trend line.<\/p>\n

The first key support could be the $2,320 zone or the 50% Fib retracement level of the upward move from the $2,180 swing low to the $2,441 high. A downside break and a close below $2,320 might spark more bearish moves. In the stated case, Ether could revisit the $2,200 support. Any more losses might send the price toward the $2,120 level.<\/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 $2,320<\/p>\n

Major Resistance Level \u2013 $2,440<\/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-34550","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\/34550","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=34550"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34550\/revisions"}],"predecessor-version":[{"id":34559,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34550\/revisions\/34559"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34550"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}