{"id":635074,"date":"2024-08-13T03:48:46","date_gmt":"2024-08-13T03:48:46","guid":{"rendered":"https:\/\/ktsl888.com\/?p=635074"},"modified":"2024-08-13T03:14:58","modified_gmt":"2024-08-13T03:14:58","slug":"ethereum-price-strength-bitcoin-2720","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-price-strength-bitcoin-2720\/","title":{"rendered":"Ethereum Price Gains Strength, Outpaces Bitcoin With An 8% Surge"},"content":{"rendered":"<p><em>Ethereum price started a steady increase above the $2,550 resistance. ETH is beating Bitcoin and might even clear the $2,750 resistance zone.<\/em><\/p>\n<ul>\n<li>Ethereum started a fresh increase above the $2,550 and $2,650 levels.<\/li>\n<li>The price is trading above $2,650 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a connecting bullish trend line forming with support at $2,695 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could extend gains if it clears the $2,750 resistance zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Jumps Over 8%<\/h2>\n<p>Ethereum price remained stable near the <a href=\"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-price-weakens-2500\/\" target=\"_blank\" rel=\"noopener \">$2,520 support zone<\/a>. ETH formed a base and started a fresh increase above the $2,600 level. The price gained over 8%, outperformed <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-upside-60k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>, and even surpassed the $2,650 resistance zone.<\/p>\n<p>The price spiked above the $2,720 resistance. A high was formed at $2,748 and the price is now consolidating gains. There is also a connecting bullish trend line forming with support at $2,695 on the hourly chart of ETH\/USD. The trend line is close to the 23.6% Fib retracement level of the upward move from the $2,518 swing low to the $2,748 high.<\/p>\n<p>Ethereum price is now trading above $2,650 and the 100-hourly Simple Moving Average. If there is another increase, the price might face hurdles near the $2,720 level.<\/p>\n<figure id=\"attachment_635075\" aria-describedby=\"caption-attachment-635075\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_4c4ac0.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-635075 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_4c4ac0.png?resize=1024%2C461\" alt=\"Ethereum Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_4c4ac0.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_4c4ac0.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_4c4ac0.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_4c4ac0.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_4c4ac0.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_4c4ac0.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_4c4ac0.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-635075\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>The first major resistance is near the $2,750 level. A close above the $2,750 level might send Ether toward the $2,880 resistance. The next key resistance is near $2,920. An upside break above the $2,920 resistance might send the price higher toward the $3,000 resistance zone in the near term.<\/p>\n<h2>Another Decline In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,750 resistance, it could start a downside correction. Initial support on the downside is near $2,700 and the trend line. The first major support sits near the $2,640 zone and the 50% Fib retracement level of the upward move from the $2,518 swing low to the $2,748 high.<\/p>\n<p>A clear move below the $2,640 support might push the price toward $2,580. Any more losses might send the price toward the $2,520 support level in the near term. The next key support sits at $2,450.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now above the 50 zone.<\/p>\n<p>Major Support Level \u2013 $2,695<\/p>\n<p>Major Resistance Level \u2013 $2,750<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price started a steady increase above the $2,550 resistance. ETH is beating Bitcoin and might even clear the $2,750 resistance zone. Ethereum started a fresh increase above the $2,550 and $2,650 levels. The price is trading above $2,650 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $2,695 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could extend gains if it clears the $2,750 resistance zone. Ethereum Price Jumps Over 8% Ethereum price remained stable near the $2,520 support zone. ETH formed a base and started a fresh increase above the $2,600 level. The price gained over 8%, outperformed Bitcoin, and even surpassed the $2,650 resistance zone. The price spiked above the $2,720 resistance. A high was formed at $2,748 and the price is now consolidating gains. There is also a connecting bullish trend line forming with support at $2,695 on the hourly chart of ETH\/USD. The trend line is close to the 23.6% Fib retracement level of the upward move from the $2,518 swing low to the $2,748 high. Ethereum price is now trading above $2,650 and the 100-hourly Simple Moving Average. If there is another increase, the price might face hurdles near the $2,720 level. The first major resistance is near the $2,750 level. A close above the $2,750 level might send Ether toward the $2,880 resistance. The next key resistance is near $2,920. An upside break above the $2,920 resistance might send the price higher toward the $3,000 resistance zone in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,750 resistance, it could start a downside correction. Initial support on the downside is near $2,700 and the trend line. The first major support sits near the $2,640 zone and the 50% Fib retracement level of the upward move from the $2,518 swing low to the $2,748 high. A clear move below the $2,640 support might push the price toward $2,580. Any more losses might send the price toward the $2,520 support level in the near term. The next key support sits at $2,450. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now above the 50 zone. Major Support Level \u2013 $2,695 Major Resistance Level \u2013 $2,750<\/p>\n","protected":false},"author":67,"featured_media":635076,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83362],"tags":[65296,1946,8686,78803],"class_list":["post-635074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Gains Strength, Outpaces Bitcoin With An 8% Surge<\/title>\n<meta name=\"description\" content=\"Ethereum price started a steady increase above the $2,550 resistance. 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