{"id":34661,"date":"2024-01-02T05:52:59","date_gmt":"2024-01-02T09:52:59","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=34661"},"modified":"2024-01-02T05:52:59","modified_gmt":"2024-01-02T09:52:59","slug":"ethereum-bulls-sight-new-high-in-2024-as-btc-pumps-above-45k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/02\/ethereum-bulls-sight-new-high-in-2024-as-btc-pumps-above-45k\/","title":{"rendered":"Ethereum Bulls Sight New High In 2024 As BTC Pumps Above $45K"},"content":{"rendered":"

Ethereum price is eyeing an upside break above the $2,440 resistance. ETH could rally like Bitcoin if there is a close above the $2,500 level.<\/em><\/p>\n

Ethereum is moving higher from the $2,250 support level.
\nThe price is trading above $2,350 and the 100-hourly Simple Moving Average.
\nThere was a break above a major bearish trend line with resistance near $2,300 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could accelerate higher if there is a clear move above $2,400 and $2,440.<\/p>\n

Ethereum Price Eyes Key Upside Break<\/h2>\n

Ethereum price found support near the $2,250 level and recently started a fresh increase. ETH managed to recover after Bitcoin<\/a> pumped above the $44,400 resistance zone.<\/p>\n

The price cleared the $2,300 and $2,320 resistance levels. There was also a break above a major bearish trend line with resistance near $2,300 on the hourly chart of ETH\/USD. The pair climbed above the 61.8% Fib retracement level of the downward move from the $2,445 swing high to the $2,258 low.<\/p>\n

Bitcoin is now trading above $2,350 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,400 level<\/a>. It is close to the 76.4% Fib retracement level of the downward move from the $2,445 swing high to the $2,258 low.<\/p>\n

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

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

The first major resistance is now near $2,445. A close above the $2,445 resistance could send the price toward $2,500. The next key resistance is near $2,550. If the bulls remain in action and push ETH above $2,550, there could be a drift toward $2,620. The next resistance sits at $2,650, above which Ethereum might rally and test the $2,800 zone.<\/p>\n

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

If Ethereum fails to clear the $2,400 resistance, it could start another decline. Initial support on the downside is near the $2,350 level.<\/p>\n

The first key support could be the $2,320 zone. A downside break and a close below $2,320 might start another major decline. In the stated case, Ether could test the $2,250 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 $2,400<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is eyeing an upside break above the $2,440 resistance. ETH could rally like Bitcoin if there is a close above the $2,500 level.<\/em><\/p>\n

Ethereum is moving higher from the $2,250 support level.
\nThe price is trading above $2,350 and the 100-hourly Simple Moving Average.
\nThere was a break above a major bearish trend line with resistance near $2,300 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could accelerate higher if there is a clear move above $2,400 and $2,440.<\/p>\n

Ethereum Price Eyes Key Upside Break<\/h2>\n

Ethereum price found support near the $2,250 level and recently started a fresh increase. ETH managed to recover after Bitcoin<\/a> pumped above the $44,400 resistance zone.<\/p>\n

The price cleared the $2,300 and $2,320 resistance levels. There was also a break above a major bearish trend line with resistance near $2,300 on the hourly chart of ETH\/USD. The pair climbed above the 61.8% Fib retracement level of the downward move from the $2,445 swing high to the $2,258 low.<\/p>\n

Bitcoin is now trading above $2,350 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,400 level<\/a>. It is close to the 76.4% Fib retracement level of the downward move from the $2,445 swing high to the $2,258 low.<\/p>\n

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

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

The first major resistance is now near $2,445. A close above the $2,445 resistance could send the price toward $2,500. The next key resistance is near $2,550. If the bulls remain in action and push ETH above $2,550, there could be a drift toward $2,620. The next resistance sits at $2,650, above which Ethereum might rally and test the $2,800 zone.<\/p>\n

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

If Ethereum fails to clear the $2,400 resistance, it could start another decline. Initial support on the downside is near the $2,350 level.<\/p>\n

The first key support could be the $2,320 zone. A downside break and a close below $2,320 might start another major decline. In the stated case, Ether could test the $2,250 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 $2,400<\/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-34661","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\/34661","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=34661"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34661\/revisions"}],"predecessor-version":[{"id":34666,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34661\/revisions\/34666"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34661"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}