ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\nOn the upside, the price seems to be facing hurdles near the $2,380 level. The first major resistance is near the $2,400 level. A close above the $2,400 level might send Ether toward the $2,465 resistance. The next key resistance is near $2,500. An upside break above the $2,500 resistance might call for more gains toward the $2,550 resistance zone in the near term.<\/p>\n
Another Decline In ETH?<\/h2>\n If Ethereum fails to clear the $2,400 resistance, it could start another decline. Initial support on the downside is near $2,335 and the trend line. The first major support sits near the $2,300 zone or the 61.8% Fib retracement level of the upward move from the $2,242 swing low to the $2,398 high.<\/p>\n
A clear move below the $2,300 support might push the price toward $2,240. Any more losses might send the price toward the $2,150 support level in the near term. The next key support sits at $2,050.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\nHourly RSI – <\/strong>The RSI for ETH\/USD is now above the 50 zone.<\/p>\nMajor Support Level \u2013 $2,240<\/p>\n
Major Resistance Level \u2013 $2,400<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price is attempting a fresh increase wave above $2,300. ETH might gain bullish momentum if it clears the $2,400 resistance zone. Ethereum is attempting a recovery wave above the $2,300 zone. The price is trading above $2,330 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $2,335 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must clear the $2,400 resistance to continue higher in the near term. Ethereum Price Eyes More Upsides Ethereum price started a recovery wave above the $2,300 level. ETH was able to clear the $2,320 resistance zone to move into a positive zone like Bitcoin. However, the bears were active near the $2,400 resistance. A high was formed at $2,398 and the price is now consolidating gains. There was a minor decline below the $2,360 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $2,242 swing low to the $2,398 high. Ethereum price is now trading above $2,300 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $2,335 on the hourly chart of ETH\/USD. On the upside, the price seems to be facing hurdles near the $2,380 level. The first major resistance is near the $2,400 level. A close above the $2,400 level might send Ether toward the $2,465 resistance. The next key resistance is near $2,500. An upside break above the $2,500 resistance might call for more gains toward the $2,550 resistance zone in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,400 resistance, it could start another decline. Initial support on the downside is near $2,335 and the trend line. The first major support sits near the $2,300 zone or the 61.8% Fib retracement level of the upward move from the $2,242 swing low to the $2,398 high. A clear move below the $2,300 support might push the price toward $2,240. Any more losses might send the price toward the $2,150 support level in the near term. The next key support sits at $2,050. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now above the 50 zone. Major Support Level \u2013 $2,240 Major Resistance Level \u2013 $2,400<\/p>\n","protected":false},"author":67,"featured_media":641072,"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-641070","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
Ethereum Price Eyes Bullish Momentum: Is a Breakout Imminent?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n