{"id":34898,"date":"2024-01-09T04:53:43","date_gmt":"2024-01-09T08:53:43","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=34898"},"modified":"2024-01-09T04:53:43","modified_gmt":"2024-01-09T08:53:43","slug":"ethereum-price-avoids-trend-reversal-but-key-hurdle-still-intact","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/09\/ethereum-price-avoids-trend-reversal-but-key-hurdle-still-intact\/","title":{"rendered":"Ethereum Price Avoids Trend Reversal But Key Hurdle Still Intact"},"content":{"rendered":"

Ethereum price managed to stay above $2,170 and recovered losses. ETH consolidating and still facing many hurdles near $2,350 and $2,400.<\/em><\/p>\n

Ethereum is attempting a fresh increase above the $2,300 resistance level.
\nThe price is trading above $2,250 and the 100-hourly Simple Moving Average.
\nThere was a break above a connecting bearish trend line with resistance near $2,245 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if there is a close above the $2,350 level.<\/p>\n

Ethereum Price Regains Strength<\/h2>\n

Ethereum price extended its decline<\/a> below the $2,200 level. However, ETH remained stable near the $2,180 and $2,170 levels. A low was formed near $2,170 and the price started a fresh increase, like Bitcoin<\/a>.<\/p>\n

There was a decent increase above the $2,240 level. There was also a break above a connecting bearish trend line with resistance near $2,245 on the hourly chart of ETH\/USD. The pair climbed above the $2,320 resistance, but the bears were active near $2,350.<\/p>\n

A high was formed near $2,358 and the price is now correcting gains. There was a minor decline below the $2,320 level. The price moved below the 23.6% Fib retracement level of the upward move from the $2,170 swing low to the $2,358 high.<\/p>\n

ETH is now trading above $2,250 and the 100-hourly Simple Moving Average. If there is a fresh increase, the price might face resistance near the $2,350 level. The next major resistance is now near $2,400.<\/p>\n

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

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

The main uptrend hurdle sits at $2,450. A close above the $2,450 resistance could start a decent upward move. The next key resistance is near $2,540. If the bulls push Ethereum above $2,540, there could be a rally toward $2,720. Any more gains might send the price toward the $2,800 zone.<\/p>\n

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

If Ethereum fails to clear the $2,350 resistance, it could start a fresh decline. Initial support on the downside is near the $2,280 level.<\/p>\n

The first key support could be the $2,260 zone or the 50% Fib retracement level of the upward move from the $2,170 swing low to the $2,358 high. A downside break and a close below $2,260 might send the price further lower. In the stated case, Ether could test the $2,170 support. Any more losses might send the price toward the $2,050 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 $2,260<\/p>\n

Major Resistance Level \u2013 $2,350<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price managed to stay above $2,170 and recovered losses. ETH consolidating and still facing many hurdles near $2,350 and $2,400.<\/em><\/p>\n

Ethereum is attempting a fresh increase above the $2,300 resistance level.
\nThe price is trading above $2,250 and the 100-hourly Simple Moving Average.
\nThere was a break above a connecting bearish trend line with resistance near $2,245 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if there is a close above the $2,350 level.<\/p>\n

Ethereum Price Regains Strength<\/h2>\n

Ethereum price extended its decline<\/a> below the $2,200 level. However, ETH remained stable near the $2,180 and $2,170 levels. A low was formed near $2,170 and the price started a fresh increase, like Bitcoin<\/a>.<\/p>\n

There was a decent increase above the $2,240 level. There was also a break above a connecting bearish trend line with resistance near $2,245 on the hourly chart of ETH\/USD. The pair climbed above the $2,320 resistance, but the bears were active near $2,350.<\/p>\n

A high was formed near $2,358 and the price is now correcting gains. There was a minor decline below the $2,320 level. The price moved below the 23.6% Fib retracement level of the upward move from the $2,170 swing low to the $2,358 high.<\/p>\n

ETH is now trading above $2,250 and the 100-hourly Simple Moving Average. If there is a fresh increase, the price might face resistance near the $2,350 level. The next major resistance is now near $2,400.<\/p>\n

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

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

The main uptrend hurdle sits at $2,450. A close above the $2,450 resistance could start a decent upward move. The next key resistance is near $2,540. If the bulls push Ethereum above $2,540, there could be a rally toward $2,720. Any more gains might send the price toward the $2,800 zone.<\/p>\n

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

If Ethereum fails to clear the $2,350 resistance, it could start a fresh decline. Initial support on the downside is near the $2,280 level.<\/p>\n

The first key support could be the $2,260 zone or the 50% Fib retracement level of the upward move from the $2,170 swing low to the $2,358 high. A downside break and a close below $2,260 might send the price further lower. In the stated case, Ether could test the $2,170 support. Any more losses might send the price toward the $2,050 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 $2,260<\/p>\n

Major Resistance Level \u2013 $2,350<\/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-34898","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\/34898","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=34898"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34898\/revisions"}],"predecessor-version":[{"id":34903,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34898\/revisions\/34903"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34898"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}