Ethereum spiked lower after the US CPI release against the US Dollar. ETH dived to $1,200 before it started a sharp increase and surpassed $1,300.<\/p>\n
Ethereum trimmed all losses and climbed back above the $1,300 resistance zone.
\nThe price is now trading above $1,300 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $1,290 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair seems to be eyeing a steady increase above the $1,350 resistance zone.<\/p>\n
Ethereum Price Jumps Over 5%<\/p>\n
Ethereum faced a sharp decline after the US CPI data was released, similar to bitcoin price<\/a>. ETH dropped below the $1,250 support level. It even spiked below the $1,200 level before the bulls emerged.<\/p>\n A low was formed near $1,188 and the price started a strong increase. There was over 5% rally above the $1,250 resistance zone. Ether price broke the 61.8% Fib retracement level of the downward move from the $1,306 swing high to $1,188 low.<\/p>\n Besides, there was a break above a major bearish trend line with resistance near $1,290 on the hourly chart of ETH\/USD. The pair is now trading above $1,300 and the 100 hourly simple moving average.<\/p>\n An immediate resistance on the upside is near the $1,335 level. It is near the 1.236 Fib extension level of the downward move from the $1,306 swing high to $1,188 low. The first major resistance is near the $1,350 level. A clear upside break above the $1,350 resistance zone could open the doors for more gains.<\/p>\n <\/a><\/p>\n Source: ETHUSD on TradingView.com<\/a><\/p>\n In the stated case, the price may perhaps rise towards the $1,400 resistance. Any more gains might send the price towards the $1,500 resistance.<\/p>\n Fresh Decline in ETH?<\/p>\n If ethereum fails to climb above the $1,335 resistance, it could start a downside correction. An initial support on the downside is near the $1,310 level.<\/p>\n The next major support is near the $1,290 level and the 100 hourly simple moving average. A downside break below the $1,290 might start a fresh decline<\/a> to $1,250. Any more losses may perhaps open the gates for a move towards the $1,200 support.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\n Hourly RSI \u2013 The RSI for ETH\/USD is now in the overbought zone.<\/p>\n Major Support Level \u2013 $1,290<\/p>\n Major Resistance Level \u2013 $1,335<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Ethereum spiked lower after the US CPI release against the US Dollar. ETH dived to $1,200 before it started a sharp increase and surpassed $1,300.<\/p>\n Ethereum trimmed all losses and climbed back above the $1,300 resistance zone. Ethereum Price Jumps Over 5%<\/p>\n Ethereum faced a sharp decline after the US CPI data was released, similar to bitcoin price<\/a>. ETH dropped below the $1,250 support level. It even spiked below the $1,200 level before the bulls emerged.<\/p>\n A low was formed near $1,188 and the price started a strong increase. There was over 5% rally above the $1,250 resistance zone. Ether price broke the 61.8% Fib retracement level of the downward move from the $1,306 swing high to $1,188 low.<\/p>\n Besides, there was a break above a major bearish trend line with resistance near $1,290 on the hourly chart of ETH\/USD. The pair is now trading above $1,300 and the 100 hourly simple moving average.<\/p>\n An immediate resistance on the upside is near the $1,335 level. It is near the 1.236 Fib extension level of the downward move from the $1,306 swing high to $1,188 low. The first major resistance is near the $1,350 level. A clear upside break above the $1,350 resistance zone could open the doors for more gains.<\/p>\n <\/a><\/p>\n
\nThe price is now trading above $1,300 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $1,290 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair seems to be eyeing a steady increase above the $1,350 resistance zone.<\/p>\n
![<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nIn the stated case, the price may perhaps rise towards the $1,400 resistance. Any more gains might send the price towards the $1,500 resistance.<\/p>\nFresh Decline in ETH?<\/p>\nIf ethereum fails to climb above the $1,335 resistance, it could start a downside correction. An initial support on the downside is near the $1,310 level.<\/p>\nThe next major support is near the $1,290 level and the 100 hourly simple moving average. A downside break below the $1,290 might start a fresh decline<\/a> to $1,250. Any more losses may perhaps open the gates for a move towards the $1,200 support.<\/p>\nTechnical Indicators<\/p>\nHourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\nHourly RSI \u2013 The RSI for ETH\/USD is now in the overbought zone.<\/p>\nMajor Support Level \u2013 $1,290<\/p>\nMajor Resistance Level \u2013 $1,335<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nEthereum spiked lower after the US CPI release against the US Dollar. ETH dived to $1,200 before it started a sharp increase and surpassed $1,300.<\/p>\nEthereum trimmed all losses and climbed back above the $1,300 resistance zone.\nThe price is now trading above $1,300 and the 100 hourly simple moving average.\nThere was a break above a major bearish trend line with resistance near $1,290 on the hourly chart of ETH\/USD (data feed via Kraken).\nThe pair seems to be eyeing a steady increase above the $1,350 resistance zone.<\/p>\nEthereum Price Jumps Over 5%<\/p>\nEthereum faced a sharp decline after the US CPI data was released, similar to bitcoin price<\/a>. ETH dropped below the $1,250 support level. It even spiked below the $1,200 level before the bulls emerged.<\/p>\nA low was formed near $1,188 and the price started a strong increase. There was over 5% rally above the $1,250 resistance zone. Ether price broke the 61.8% Fib retracement level of the downward move from the $1,306 swing high to $1,188 low.<\/p>\nBesides, there was a break above a major bearish trend line with resistance near $1,290 on the hourly chart of ETH\/USD. The pair is now trading above $1,300 and the 100 hourly simple moving average.<\/p>\nAn immediate resistance on the upside is near the $1,335 level. It is near the 1.236 Fib extension level of the downward move from the $1,306 swing high to $1,188 low. The first major resistance is near the $1,350 level. A clear upside break above the $1,350 resistance zone could open the doors for more gains.<\/p>\n<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nIn the stated case, the price may perhaps rise towards the $1,400 resistance. Any more gains might send the price towards the $1,500 resistance.<\/p>\nFresh Decline in ETH?<\/p>\nIf ethereum fails to climb above the $1,335 resistance, it could start a downside correction. An initial support on the downside is near the $1,310 level.<\/p>\nThe next major support is near the $1,290 level and the 100 hourly simple moving average. A downside break below the $1,290 might start a fresh decline<\/a> to $1,250. Any more losses may perhaps open the gates for a move towards the $1,200 support.<\/p>\nTechnical Indicators<\/p>\nHourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\nHourly RSI \u2013 The RSI for ETH\/USD is now in the overbought zone.<\/p>\nMajor Support Level \u2013 $1,290<\/p>\nMajor Resistance Level \u2013 $1,335<\/p>\n<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-9767","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\/9767","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=9767"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/9767\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=9767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=9767"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=9767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Ethereum-11.png\"){kind=link}