{"id":11934,"date":"2024-10-07T03:28:59","date_gmt":"2024-10-07T03:28:59","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=11934"},"modified":"2024-10-07T03:28:59","modified_gmt":"2024-10-07T03:28:59","slug":"ethereum-price-back-above-2500-is-a-bigger-move-coming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=11934","title":{"rendered":"Ethereum Price Back Above $2,500: Is a Bigger Move Coming?"},"content":{"rendered":"

Ethereum price started a fresh increase from the $2,300 support zone. ETH is rising and might aim for a move above the $2,550 resistance.<\/em><\/p>\n

Ethereum started a decent increase above the $2,350 and $2,420 levels.
\nThe price is trading above $2,420 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $2,435 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must clear the $2,525 and $2,550 resistance levels to continue higher in the near term.<\/p>\n

Ethereum Price Aims Higher<\/h2>\n

Ethereum price remained stable above the $2,300 level and started a fresh increase. ETH was able to clear the $2,350 resistance to move into a positive zone like Bitcoin<\/a>.<\/p>\n

The price was able to climb above the $2,400 resistance zone. There was a move above the 50% Fib retracement level of the downward wave from the $2,656 swing high to the $2,310 low. Finally, the bulls pushed the price above the $2,500 resistance.<\/p>\n

Ethereum price is now trading above $2,450 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support at $2,435 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price seems to be facing hurdles near the $2,525 level. It is close to the 61.8% Fib retracement level of the downward wave from the $2,656 swing high to the $2,310 low. A clear move above the $2,525 resistance might send the price toward the $2,550 resistance.<\/p>\n

<\/a><\/p>\n

An upside break above the $2,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,650 resistance zone in the near term. The next hurdle sits near the $2,720 level or $2,740.<\/p>\n

Another Decline In ETH?<\/h2>\n

If Ethereum fails to clear the $2,525 resistance, it could start another decline. Initial support on the downside is near the $2,450 level. The first major support sits near the $2,420 zone and the trend line.<\/p>\n

A clear move below the $2,420 support might push the price toward $2,350. 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

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now above the 50 zone.<\/p>\n

Major Support Level \u2013 $2,420<\/p>\n

Major Resistance Level \u2013 $2,525<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a fresh increase from the $2,300 support zone. ETH is rising and might aim for a move above the $2,550 resistance. Ethereum started a decent increase above the $2,350 and $2,420 levels. The price is trading above $2,420 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":11935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11934"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11934"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11934\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/11935"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}