{"id":34701,"date":"2024-01-03T05:53:10","date_gmt":"2024-01-03T09:53:10","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34701"},"modified":"2024-01-03T05:53:10","modified_gmt":"2024-01-03T09:53:10","slug":"ethereum-price-momentum-reignites-technical-signals-potential-surge-to-2600","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/03\/ethereum-price-momentum-reignites-technical-signals-potential-surge-to-2600\/","title":{"rendered":"Ethereum Price Momentum Reignites: Technical Signals Potential Surge To $2,600"},"content":{"rendered":"

Ethereum price retested the $2,440 resistance zone. ETH is consolidating gains and might soon attempt a fresh increase toward the $2,600 level.<\/em><\/p>\n

Ethereum gained strength for a move above the $2,350 level.
\nThe price is trading above $2,350 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $2,360 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if there is a clear move above $2,430 and $2,440.<\/p>\n

Ethereum Price Remains Supported<\/h2>\n

Ethereum price started a decent increase above the $2,300 level, like Bitcoin<\/a>. ETH gained pace for a move above the $2,350 level to move into a positive zone.<\/p>\n

The price even climbed above the $2,400 level. However, the bears appeared near the $2,440 resistance zone<\/a>. A high was formed near $2,430 and the price is now correcting gains. There was a move below the $2,400 level. The price declined below the 23.6% Fib retracement level of the upward move from the $2,260 swing low to the $2,430 high.<\/p>\n

However, Ethereum is still above $2,350 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $2,360 on the hourly chart of ETH\/USD.<\/p>\n

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

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

On the upside, the price is facing resistance near the $2,390 level. The first major resistance is now near $2,440. A close above the $2,440 resistance could send the price toward $2,500. The next key resistance is near $2,550. If there is a clear move 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

More Downsides in ETH?<\/h2>\n

If Ethereum fails to clear the $2,440 resistance, it could continue to move down. Initial support on the downside is near the $2,360 level and the trend line.<\/p>\n

The first key support could be the $2,350 zone or the 50% Fib retracement level of the upward move from the $2,260 swing low to the $2,430 high. A downside break and a close below $2,350 might start another steady decline. In the stated case, Ether could test the $2,265 support. Any more losses might send the price toward the $2,200 level.<\/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 $2,350<\/p>\n

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

<\/p>\n

Ethereum price retested the $2,440 resistance zone. ETH is consolidating gains and might soon attempt a fresh increase toward the $2,600 level.<\/em><\/p>\n

Ethereum gained strength for a move above the $2,350 level.
\nThe price is trading above $2,350 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $2,360 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if there is a clear move above $2,430 and $2,440.<\/p>\n

Ethereum Price Remains Supported<\/h2>\n

Ethereum price started a decent increase above the $2,300 level, like Bitcoin<\/a>. ETH gained pace for a move above the $2,350 level to move into a positive zone.<\/p>\n

The price even climbed above the $2,400 level. However, the bears appeared near the $2,440 resistance zone<\/a>. A high was formed near $2,430 and the price is now correcting gains. There was a move below the $2,400 level. The price declined below the 23.6% Fib retracement level of the upward move from the $2,260 swing low to the $2,430 high.<\/p>\n

However, Ethereum is still above $2,350 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $2,360 on the hourly chart of ETH\/USD.<\/p>\n

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

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

On the upside, the price is facing resistance near the $2,390 level. The first major resistance is now near $2,440. A close above the $2,440 resistance could send the price toward $2,500. The next key resistance is near $2,550. If there is a clear move 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

More Downsides in ETH?<\/h2>\n

If Ethereum fails to clear the $2,440 resistance, it could continue to move down. Initial support on the downside is near the $2,360 level and the trend line.<\/p>\n

The first key support could be the $2,350 zone or the 50% Fib retracement level of the upward move from the $2,260 swing low to the $2,430 high. A downside break and a close below $2,350 might start another steady decline. In the stated case, Ether could test the $2,265 support. Any more losses might send the price toward the $2,200 level.<\/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 $2,350<\/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-34701","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\/34701","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=34701"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34701\/revisions"}],"predecessor-version":[{"id":34708,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34701\/revisions\/34708"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34701"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}