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{"id":571362,"date":"2024-01-25T04:55:10","date_gmt":"2024-01-25T04:55:10","guid":{"rendered":"https:\/\/ktsl888.com\/?p=571362"},"modified":"2024-06-11T07:46:12","modified_gmt":"2024-06-11T07:46:12","slug":"ethereum-price-holding-2165","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-holding-2165\/","title":{"rendered":"Ethereum Price is Primed For a Correction And Only 1 Thing is Holding it Back"},"content":{"rendered":"

Ethereum price is attempting an upside correction from the $2,150 support. ETH could gain pace if it clears the $2,240 resistance zone.<\/em><\/p>\n

\n
Ethereum started an upside correction from the $2,165 zone.<\/li>\n
The price is trading below $2,240 and the 100-hourly Simple Moving Average.<\/li>\n
There was a break above a connecting bearish trend line with resistance near $2,235 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair might start a steady increase if it clears the $2,240 resistance zone.<\/li>\n<\/ul>\n
Ethereum Price Holds Support<\/h2>\n
Ethereum price extended its decline below the $2,240 support zone. ETH spiked below $2,200 before the bulls appeared near the $2,165 level. The price formed a short-term base and started an upside correction like Bitcoin<\/a>.<\/p>\n
There was a move above the $2,200 resistance level. Besides, there was a break above a connecting bearish trend line with resistance near $2,235 on the hourly chart of ETH\/USD. However, the bears are active near the $2,240 resistance. They defended the 23.6% Fib retracement level of the downward move from the $2,480 swing high to the $2,165 low.<\/p>\n
Ethereum is now trading below $2,240 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price is facing resistance near the $2,240 level.<\/p>\n
The next hurdle could be $2,300 or the 100-hourly Simple Moving Average, above which the price might rise and test the 50% Fib retracement level of the downward move from the $2,480 swing high to the $2,165 low at $2,320. The next major resistance is now near $2,360.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
A clear move above the $2,360 level might start a decent increase. In the stated case, the price could rise toward the $2,420 level. Any more gains might send the price toward the $2,500 zone.<\/p>\n
Another Drop in ETH?<\/h2>\n
If Ethereum fails to clear the $2,240 resistance, it could start another decline. Initial support on the downside is near the $2,200 level.<\/p>\n
The next key support could be the $2,165 zone. A downside break below the $2,165 support might start another substantial decline. In the stated case, Ether could test the $2,080 support. Any more losses might send the price toward the $2,000 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $2,165<\/p>\n
Major Resistance Level \u2013 $2,240<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price is attempting an upside correction from the $2,150 support. ETH could gain pace if it clears the $2,240 resistance zone. Ethereum started an upside correction from the $2,165 zone. The price is trading below $2,240 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance near $2,235 on the hourly chart of ETH\/USD (data feed via Kraken). The pair might start a steady increase if it clears the $2,240 resistance zone. Ethereum Price Holds Support Ethereum price extended its decline below the $2,240 support zone. ETH spiked below $2,200 before the bulls appeared near the $2,165 level. The price formed a short-term base and started an upside correction like Bitcoin. There was a move above the $2,200 resistance level. Besides, there was a break above a connecting bearish trend line with resistance near $2,235 on the hourly chart of ETH\/USD. However, the bears are active near the $2,240 resistance. They defended the 23.6% Fib retracement level of the downward move from the $2,480 swing high to the $2,165 low. Ethereum is now trading below $2,240 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,240 level. The next hurdle could be $2,300 or the 100-hourly Simple Moving Average, above which the price might rise and test the 50% Fib retracement level of the downward move from the $2,480 swing high to the $2,165 low at $2,320. The next major resistance is now near $2,360. Source: ETHUSD on TradingView.com A clear move above the $2,360 level might start a decent increase. In the stated case, the price could rise toward the $2,420 level. Any more gains might send the price toward the $2,500 zone. Another Drop in ETH? If Ethereum fails to clear the $2,240 resistance, it could start another decline. Initial support on the downside is near the $2,200 level. The next key support could be the $2,165 zone. A downside break below the $2,165 support might start another substantial decline. In the stated case, Ether could test the $2,080 support. Any more losses might send the price toward the $2,000 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $2,165 Major Resistance Level \u2013 $2,240<\/p>\n","protected":false},"author":67,"featured_media":463056,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[65296,1946,8686,78803],"class_list":["post-571362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Price is Primed For a Correction And Only 1 Thing is Holding it Back<\/title>\n<meta name=\"description\" content=\"Ethereum price is attempting an upside correction from the $2,150 support. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. 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