{"id":638689,"date":"2024-08-30T03:28:36","date_gmt":"2024-08-30T03:28:36","guid":{"rendered":"https:\/\/ktsl888.com\/?p=638689"},"modified":"2024-08-30T03:05:37","modified_gmt":"2024-08-30T03:05:37","slug":"ethereum-price-comeback-2600","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-price-comeback-2600\/","title":{"rendered":"Ethereum Price Stages a Comeback, But Lacks the Bullish Punch"},"content":{"rendered":"<p><em>Ethereum price started a recovery wave from the $2,400 zone. ETH is now struggling to gain pace for a move above the $2,600 resistance zone.<\/em><\/p>\n<ul>\n<li>Ethereum started a recovery wave above $2,500 and $2,550.<\/li>\n<li>The price is trading below $2,550 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break above a key bearish trend line with resistance at $2,550 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair must stay above $2,485 to start another increase in the near term.<\/li>\n<\/ul>\n<h2>Ethereum Price Attempts Recovery<\/h2>\n<p>Ethereum price remained stable above $2,400 and attempted a recovery wave like <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-support-58k-2\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>. The price was able to rise above the $2,480 and $2,500 resistance levels.<\/p>\n<p>There was a move above the 23.6% Fib retracement level of the downward wave from the $2,792 swing high to the $2,395 low. The price even surpassed the <a href=\"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-price-recovery-2555\/\" target=\"_blank\" rel=\"noopener \">$2,550 resistance<\/a>. There was a break above a key bearish trend line with resistance at $2,550 on the hourly chart of ETH\/USD.<\/p>\n<p>However, the bears were active near the $2,600 resistance. They protected the 50% Fib retracement level of the downward wave from the $2,792 swing high to the $2,395 low.<\/p>\n<p>Ethereum price is now trading below $2,580 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,550 level and the 100-hourly Simple Moving Average. The first major resistance is near the $2,600 level. A close above the $2,600 level might send Ether toward the $2,660 resistance.<\/p>\n<figure id=\"attachment_638690\" aria-describedby=\"caption-attachment-638690\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_edf818.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-638690 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_edf818.png?resize=1024%2C461\" alt=\"Ethereum Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_edf818.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_edf818.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_edf818.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_edf818.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_edf818.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_edf818.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_edf818.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-638690\" 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 next key resistance is near $2,720. An upside break above the $2,720 resistance might send the price higher toward the $2,820 resistance zone in the near term.<\/p>\n<h2>Another Decline In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,600 resistance, it could start another decline. Initial support on the downside is near $2,500. The first major support sits near the $2,485 zone.<\/p>\n<p>A clear move below the $2,485 support might push the price toward $2,420 where the bulls could emerge. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250.<\/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 below the 50 zone.<\/p>\n<p>Major Support Level \u2013 $2,485<\/p>\n<p>Major Resistance Level \u2013 $2,600<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price started a recovery wave from the $2,400 zone. ETH is now struggling to gain pace for a move above the $2,600 resistance zone. Ethereum started a recovery wave above $2,500 and $2,550. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2,550 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must stay above $2,485 to start another increase in the near term. Ethereum Price Attempts Recovery Ethereum price remained stable above $2,400 and attempted a recovery wave like Bitcoin. The price was able to rise above the $2,480 and $2,500 resistance levels. There was a move above the 23.6% Fib retracement level of the downward wave from the $2,792 swing high to the $2,395 low. The price even surpassed the $2,550 resistance. There was a break above a key bearish trend line with resistance at $2,550 on the hourly chart of ETH\/USD. However, the bears were active near the $2,600 resistance. They protected the 50% Fib retracement level of the downward wave from the $2,792 swing high to the $2,395 low. Ethereum price is now trading below $2,580 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,550 level and the 100-hourly Simple Moving Average. The first major resistance is near the $2,600 level. A close above the $2,600 level might send Ether toward the $2,660 resistance. The next key resistance is near $2,720. An upside break above the $2,720 resistance might send the price higher toward the $2,820 resistance zone in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,600 resistance, it could start another decline. Initial support on the downside is near $2,500. The first major support sits near the $2,485 zone. A clear move below the $2,485 support might push the price toward $2,420 where the bulls could emerge. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250. 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 below the 50 zone. Major Support Level \u2013 $2,485 Major Resistance Level \u2013 $2,600<\/p>\n","protected":false},"author":67,"featured_media":638691,"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-638689","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 Stages a Comeback, But Lacks the Bullish Punch<\/title>\n<meta name=\"description\" content=\"Ethereum price started a recovery wave from the $2,400 zone. 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