{"id":36019,"date":"2024-02-12T05:53:27","date_gmt":"2024-02-12T09:53:27","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36019"},"modified":"2024-02-12T05:53:27","modified_gmt":"2024-02-12T09:53:27","slug":"ethereum-price-signals-uptrend-exhaustion-but-dips-could-be-attractive","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/12\/ethereum-price-signals-uptrend-exhaustion-but-dips-could-be-attractive\/","title":{"rendered":"Ethereum Price Signals Uptrend Exhaustion But Dips Could Be Attractive"},"content":{"rendered":"

Ethereum price is struggling to clear the $2,550 resistance. ETH could start a downside correction if there is a move below the $2,475 support.<\/em><\/p>\n

Ethereum is consolidating gains below the $2,550 resistance zone.
\nThe price is trading above $2,480 and the 100-hourly Simple Moving Average.
\nThere was a break below a connecting bullish trend line with support at $2,515 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it stays above the $2,475 support zone.<\/p>\n

Ethereum Price Remains Supported<\/h2>\n

Ethereum price saw a steady increase after it broke the $2,420 resistance. ETH climbed above $2,450 and $2,500, but it underperformed Bitcoin<\/a>. Finally, the bears appeared near the $2,550 zone.<\/p>\n

A high was formed near $2,536 and the price is now consolidating gains. There was a minor decline below the $2,500 level. There was also a break below a connecting bullish trend line with support at $2,515 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum is still trading above the 23.6% Fib retracement level of the recent increase from the $2,282 swing low to the $2,536 high. It is also trading above $2,480 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

If there is a fresh increase, the price could surge above the $2,520 level. On the upside, the first major resistance is near the $2,550 level. The next major resistance is near $2,620, above which the price might rise and test the $2,680 resistance.<\/p>\n

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

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

If the bulls remain in action, they could even push the price above the $2,750 resistance. In the stated case, the price could rise toward the $2,800 level.<\/p>\n

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

If Ethereum fails to clear the $2,550 resistance, it could start a downside correction. Initial support on the downside is near the $2,475 level and the 100 hourly SMA.<\/p>\n

The next key support could be the $2,460 zone. A clear move below the $2,460 support might send the price toward $2,400 or the 50% Fib retracement level of the recent increase from the $2,282 swing low to the $2,536 high. The main support could be $2,380. Any more losses might send the price toward the $2,280 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 $2,475<\/p>\n

Major Resistance Level \u2013 $2,550<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is struggling to clear the $2,550 resistance. ETH could start a downside correction if there is a move below the $2,475 support.<\/em><\/p>\n

Ethereum is consolidating gains below the $2,550 resistance zone.
\nThe price is trading above $2,480 and the 100-hourly Simple Moving Average.
\nThere was a break below a connecting bullish trend line with support at $2,515 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it stays above the $2,475 support zone.<\/p>\n

Ethereum Price Remains Supported<\/h2>\n

Ethereum price saw a steady increase after it broke the $2,420 resistance. ETH climbed above $2,450 and $2,500, but it underperformed Bitcoin<\/a>. Finally, the bears appeared near the $2,550 zone.<\/p>\n

A high was formed near $2,536 and the price is now consolidating gains. There was a minor decline below the $2,500 level. There was also a break below a connecting bullish trend line with support at $2,515 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum is still trading above the 23.6% Fib retracement level of the recent increase from the $2,282 swing low to the $2,536 high. It is also trading above $2,480 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

If there is a fresh increase, the price could surge above the $2,520 level. On the upside, the first major resistance is near the $2,550 level. The next major resistance is near $2,620, above which the price might rise and test the $2,680 resistance.<\/p>\n

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

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

If the bulls remain in action, they could even push the price above the $2,750 resistance. In the stated case, the price could rise toward the $2,800 level.<\/p>\n

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

If Ethereum fails to clear the $2,550 resistance, it could start a downside correction. Initial support on the downside is near the $2,475 level and the 100 hourly SMA.<\/p>\n

The next key support could be the $2,460 zone. A clear move below the $2,460 support might send the price toward $2,400 or the 50% Fib retracement level of the recent increase from the $2,282 swing low to the $2,536 high. The main support could be $2,380. Any more losses might send the price toward the $2,280 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 $2,475<\/p>\n

Major Resistance Level \u2013 $2,550<\/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-36019","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\/36019","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=36019"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36019\/revisions"}],"predecessor-version":[{"id":36024,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36019\/revisions\/36024"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36019"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}