{"id":36384,"date":"2024-02-23T03:52:50","date_gmt":"2024-02-23T07:52:50","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36384"},"modified":"2024-02-23T03:52:50","modified_gmt":"2024-02-23T07:52:50","slug":"ethereum-price-at-make-or-break-levels-can-eth-surge-to-3200","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/23\/ethereum-price-at-make-or-break-levels-can-eth-surge-to-3200\/","title":{"rendered":"Ethereum Price At Make-or-Break Levels, Can ETH Surge To $3,200?"},"content":{"rendered":"

Ethereum price is struggling below the $3,030 resistance. ETH is consolidating and might start a downside correction below the $2,930 support.<\/em><\/p>\n

Ethereum struggled to stay above the $3,000 level and corrected lower.
\nThe price is trading above $2,930 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $2,930 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase unless there is a clear move below $2,930.<\/p>\n

Ethereum Price Hits Support<\/h2>\n

Ethereum price made another attempt to gain pace above the $3,000 resistance zone<\/a>. However, the bears were active above the $3,000 resistance. A new multi-week high is formed near $3,036 and the price started a downside correction, like Bitcoin<\/a>.<\/p>\n

There was a move below the $3,000 and $2,980 levels. The price spiked below the 50% Fib retracement level of the upward move from the $2,865 swing low to the $3,036 high. However, the bulls are now active near the $2,940 level.<\/p>\n

Ethereum is now trading above $2,930 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2,930 on the hourly chart of ETH\/USD. The trend line is close to the 100-hourly Simple Moving Average and the 61.8% Fib retracement level of the upward move from the $2,865 swing low to the $3,036 high.<\/p>\n

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

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

Immediate resistance on the upside is near the $2,980 level. The first major resistance is near the $3,000 level. The next major resistance is near $3,035, above which the price might rise and test the $3,080 resistance zone. If there is a move above the $3,080 resistance, Ether could even rally toward the $3,200 resistance. Any more gains might call for a test of $3,250.<\/p>\n

More Losses In ETH?<\/h2>\n

If Ethereum fails to clear the $3,000 resistance, it could continue to move down. Initial support on the downside is near the $2,930 level and the 100-hourly Simple Moving Average.<\/p>\n

The first major support is near the $2,865 level. The next key support could be the $2,820 zone. A clear move below the $2,820 support might send the price toward $2,720. Any more losses might send the price toward the $2,550 level in the coming days.<\/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 below the 50 level.<\/p>\n

Major Support Level \u2013 $2,865<\/p>\n

Major Resistance Level \u2013 $3,000<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is struggling below the $3,030 resistance. ETH is consolidating and might start a downside correction below the $2,930 support.<\/em><\/p>\n

Ethereum struggled to stay above the $3,000 level and corrected lower.
\nThe price is trading above $2,930 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $2,930 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase unless there is a clear move below $2,930.<\/p>\n

Ethereum Price Hits Support<\/h2>\n

Ethereum price made another attempt to gain pace above the $3,000 resistance zone<\/a>. However, the bears were active above the $3,000 resistance. A new multi-week high is formed near $3,036 and the price started a downside correction, like Bitcoin<\/a>.<\/p>\n

There was a move below the $3,000 and $2,980 levels. The price spiked below the 50% Fib retracement level of the upward move from the $2,865 swing low to the $3,036 high. However, the bulls are now active near the $2,940 level.<\/p>\n

Ethereum is now trading above $2,930 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2,930 on the hourly chart of ETH\/USD. The trend line is close to the 100-hourly Simple Moving Average and the 61.8% Fib retracement level of the upward move from the $2,865 swing low to the $3,036 high.<\/p>\n

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

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

Immediate resistance on the upside is near the $2,980 level. The first major resistance is near the $3,000 level. The next major resistance is near $3,035, above which the price might rise and test the $3,080 resistance zone. If there is a move above the $3,080 resistance, Ether could even rally toward the $3,200 resistance. Any more gains might call for a test of $3,250.<\/p>\n

More Losses In ETH?<\/h2>\n

If Ethereum fails to clear the $3,000 resistance, it could continue to move down. Initial support on the downside is near the $2,930 level and the 100-hourly Simple Moving Average.<\/p>\n

The first major support is near the $2,865 level. The next key support could be the $2,820 zone. A clear move below the $2,820 support might send the price toward $2,720. Any more losses might send the price toward the $2,550 level in the coming days.<\/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 below the 50 level.<\/p>\n

Major Support Level \u2013 $2,865<\/p>\n

Major Resistance Level \u2013 $3,000<\/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-36384","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\/36384","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=36384"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36384\/revisions"}],"predecessor-version":[{"id":36391,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36384\/revisions\/36391"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36384"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}