{"id":35903,"date":"2024-02-08T04:52:48","date_gmt":"2024-02-08T08:52:48","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35903"},"modified":"2024-02-08T04:52:48","modified_gmt":"2024-02-08T08:52:48","slug":"ethereum-price-jumps-to-2450-as-bulls-take-over-crypto-market","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/08\/ethereum-price-jumps-to-2450-as-bulls-take-over-crypto-market\/","title":{"rendered":"Ethereum Price Jumps To $2,450 as Bulls Take Over Crypto Market"},"content":{"rendered":"

Ethereum price gained traction and climbed above $2,400. ETH is now showing bullish signs and might extend gains toward the $2,550 level.<\/em><\/p>\n

Ethereum is gaining bullish momentum above the $2,380 zone.
\nThe price is trading above $2,350 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $2,400 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair might correct lower, but the bulls could be active near the $2,400 support zone.<\/p>\n

Ethereum Price Gains Strength<\/h2>\n

Ethereum price remained strong above the $2,250 level. ETH started another increase like Bitcoin<\/a> and was able to clear a few key hurdles near the $2,350 zone.<\/p>\n

The price jumped above the $2,400 level and tested the $2,450 resistance<\/a>. A high is formed near $2,449 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the recent surge from the $2,353 swing low to the $2,449 high.<\/p>\n

Ethereum is also trading above $2,350 and the 100-hourly Simple Moving Average. Besides, there is a key bullish trend line forming with support at $2,400 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the recent surge from the $2,353 swing low to the $2,449 high.<\/p>\n

On the upside, the first major resistance is near the $2,450 level. The next major resistance is near $2,500, above which the price might rise and test the $2,550 resistance.<\/p>\n

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

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

If the bulls remain in action, they could even pump the price above the $2,620 resistance. In the stated case, the price could rise toward the $2,700 level.<\/p>\n

Are Dips Limited In ETH?<\/h2>\n

If Ethereum fails to clear the $2,450 resistance, it could start a downside correction. Initial support on the downside is near the $2,425 level.<\/p>\n

The next key support could be the $2,400 zone or the trend line. A clear move below the $2,400 support might send the price toward $2,375. The main support could be $2,350. Any more losses might send the price toward the $2,240 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 $2,375<\/p>\n

Major Resistance Level \u2013 $2,450<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price gained traction and climbed above $2,400. ETH is now showing bullish signs and might extend gains toward the $2,550 level.<\/em><\/p>\n

Ethereum is gaining bullish momentum above the $2,380 zone.
\nThe price is trading above $2,350 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $2,400 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair might correct lower, but the bulls could be active near the $2,400 support zone.<\/p>\n

Ethereum Price Gains Strength<\/h2>\n

Ethereum price remained strong above the $2,250 level. ETH started another increase like Bitcoin<\/a> and was able to clear a few key hurdles near the $2,350 zone.<\/p>\n

The price jumped above the $2,400 level and tested the $2,450 resistance<\/a>. A high is formed near $2,449 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the recent surge from the $2,353 swing low to the $2,449 high.<\/p>\n

Ethereum is also trading above $2,350 and the 100-hourly Simple Moving Average. Besides, there is a key bullish trend line forming with support at $2,400 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the recent surge from the $2,353 swing low to the $2,449 high.<\/p>\n

On the upside, the first major resistance is near the $2,450 level. The next major resistance is near $2,500, above which the price might rise and test the $2,550 resistance.<\/p>\n

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

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

If the bulls remain in action, they could even pump the price above the $2,620 resistance. In the stated case, the price could rise toward the $2,700 level.<\/p>\n

Are Dips Limited In ETH?<\/h2>\n

If Ethereum fails to clear the $2,450 resistance, it could start a downside correction. Initial support on the downside is near the $2,425 level.<\/p>\n

The next key support could be the $2,400 zone or the trend line. A clear move below the $2,400 support might send the price toward $2,375. The main support could be $2,350. Any more losses might send the price toward the $2,240 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 $2,375<\/p>\n

Major Resistance Level \u2013 $2,450<\/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-35903","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\/35903","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=35903"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35903\/revisions"}],"predecessor-version":[{"id":35913,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35903\/revisions\/35913"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35903"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}