{"id":36600,"date":"2024-03-01T04:52:34","date_gmt":"2024-03-01T08:52:34","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36600"},"modified":"2024-03-01T04:52:34","modified_gmt":"2024-03-01T08:52:34","slug":"ethereum-price-uptrend-to-continue-these-could-be-the-factors-to-watch-2","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/03\/01\/ethereum-price-uptrend-to-continue-these-could-be-the-factors-to-watch-2\/","title":{"rendered":"Ethereum Price Uptrend To Continue? These Could Be The Factors To Watch"},"content":{"rendered":"

Ethereum price climbed to a new multi-month high above $3,500. ETH is correcting gains like Bitcoin and might find strong bids near the $3,250 zone.<\/em><\/p>\n

Ethereum extended its increase above the $3,500 resistance zone.
\nThe price is trading above $3,300 and the 100-hourly Simple Moving Average.
\nThere is a major bullish trend line forming with support at $3,260 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could correct lower, but dips might be limited below the $3,260 support zone.<\/p>\n

Ethereum Price Eyes Fresh Increase<\/h2>\n

Ethereum price gained pace after it broke the $3,200 resistance zone, like Bitcoin<\/a>. ETH cleared many hurdles near the $3,320 and $3,400 levels. Finally, it spiked above the $3,500 level.<\/p>\n

A new multi-month high was formed near $3,515 before there was a downside correction<\/a>. The price declined below the $3,420 and $3,400 levels. It even tested the 50% Fib retracement level of the upward wave from the $3,110 swing low to the $3,515 high.<\/p>\n

Ethereum is now trading above $3,300 and the 100-hourly Simple Moving Average. There is also a major bullish trend line forming with support at $3,260 on the hourly chart of ETH\/USD. The trend line is close to the 61.8% Fib retracement level of the upward wave from the $3,110 swing low to the $3,515 high.<\/p>\n

Immediate resistance on the upside is near the $3,420 level. The first major resistance is near the $3,450 level. The next major resistance is near $3,500, above which the price might gain bullish momentum.<\/p>\n

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

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

If there is a move above the $3,500 resistance, Ether could even rally toward the $3,620 resistance. Any more gains might call for a test of $3,800.<\/p>\n

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

If Ethereum fails to clear the $3,420 resistance, it could start a downside correction. Initial support on the downside is near the $3,310 level.<\/p>\n

The first major support is near the $3,260 zone or the trend line. The next key support could be the $3,250 zone. A clear move below the $3,250 support might send the price toward $3,120. Any more losses might send the price toward the $3,050 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 below the 50 level.<\/p>\n

Major Support Level \u2013 $3,260<\/p>\n

Major Resistance Level \u2013 $3,420<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price climbed to a new multi-month high above $3,500. ETH is correcting gains like Bitcoin and might find strong bids near the $3,250 zone.<\/em><\/p>\n

Ethereum extended its increase above the $3,500 resistance zone.
\nThe price is trading above $3,300 and the 100-hourly Simple Moving Average.
\nThere is a major bullish trend line forming with support at $3,260 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could correct lower, but dips might be limited below the $3,260 support zone.<\/p>\n

Ethereum Price Eyes Fresh Increase<\/h2>\n

Ethereum price gained pace after it broke the $3,200 resistance zone, like Bitcoin<\/a>. ETH cleared many hurdles near the $3,320 and $3,400 levels. Finally, it spiked above the $3,500 level.<\/p>\n

A new multi-month high was formed near $3,515 before there was a downside correction<\/a>. The price declined below the $3,420 and $3,400 levels. It even tested the 50% Fib retracement level of the upward wave from the $3,110 swing low to the $3,515 high.<\/p>\n

Ethereum is now trading above $3,300 and the 100-hourly Simple Moving Average. There is also a major bullish trend line forming with support at $3,260 on the hourly chart of ETH\/USD. The trend line is close to the 61.8% Fib retracement level of the upward wave from the $3,110 swing low to the $3,515 high.<\/p>\n

Immediate resistance on the upside is near the $3,420 level. The first major resistance is near the $3,450 level. The next major resistance is near $3,500, above which the price might gain bullish momentum.<\/p>\n

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

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

If there is a move above the $3,500 resistance, Ether could even rally toward the $3,620 resistance. Any more gains might call for a test of $3,800.<\/p>\n

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

If Ethereum fails to clear the $3,420 resistance, it could start a downside correction. Initial support on the downside is near the $3,310 level.<\/p>\n

The first major support is near the $3,260 zone or the trend line. The next key support could be the $3,250 zone. A clear move below the $3,250 support might send the price toward $3,120. Any more losses might send the price toward the $3,050 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 below the 50 level.<\/p>\n

Major Support Level \u2013 $3,260<\/p>\n

Major Resistance Level \u2013 $3,420<\/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-36600","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\/36600","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=36600"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36600\/revisions"}],"predecessor-version":[{"id":36607,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36600\/revisions\/36607"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36600"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}