{"id":13583,"date":"2024-10-14T04:28:23","date_gmt":"2024-10-14T04:28:23","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=13583"},"modified":"2024-10-14T04:28:23","modified_gmt":"2024-10-14T04:28:23","slug":"ethereum-price-gains-bullish-momentum-is-a-breakout-near","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=13583","title":{"rendered":"Ethereum Price Gains Bullish Momentum: Is a Breakout Near?"},"content":{"rendered":"

Ethereum price started a steady increase above the $2,450 resistance. ETH is holding gains and might gain bullish momentum above $2,520.<\/em><\/p>\n

Ethereum started a steady increase above the $2,420 and $2,450 resistance levels.
\nThe price is trading above $2,440 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $2,455 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must gain bullish momentum above the $2,520 and $2,550 resistance levels.<\/p>\n

Ethereum Price Regains Traction<\/h2>\n

Ethereum price formed a base above the $2,350 level and started a fresh increase. ETH cleared the $2,420 and $2,450 resistance levels to move into a positive zone, beating Bitcoin<\/a>.<\/p>\n

The bulls even pushed the price above the $2,500 level. A high was formed at $2,518 and the price is now consolidating gains. The price is stable above the 23.6% Fib retracement level of the upward move from the $2,436 swing low to the $2,518 high.<\/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 near $2,455 on the hourly chart of ETH\/USD.<\/p>\n

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

On the upside, the price seems to be facing hurdles near the $2,520 level. The first major resistance is near the $2,550 level. A clear move above the $2,550 resistance might send the price toward the $2,580 resistance. An upside break above the $2,580 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,620 resistance zone in the near term. The next hurdle sits near the $2,650 level or $2,720.<\/p>\n

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

If Ethereum fails to clear the $2,520 resistance, it could start another decline. Initial support on the downside is near the $2,480 level. The first major support sits near the $2,455 zone and the trend line or the 76.4% Fib retracement level of the upward move from the $2,436 swing low to the $2,518 high.<\/p>\n

A clear move below the $2,435 support might push the price toward $2,420. Any more losses might send the price toward the $2,350 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 $2,455<\/p>\n

Major Resistance Level \u2013 $2,520<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a steady increase above the $2,450 resistance. ETH is holding gains and might gain bullish momentum above $2,520. Ethereum started a steady increase above the $2,420 and $2,450 resistance levels. The price is trading above $2,440 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support […]<\/p>\n","protected":false},"author":0,"featured_media":13584,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-13583","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\/13583"}],"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=13583"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/13583\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/13584"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}