{"id":13834,"date":"2024-10-15T04:18:24","date_gmt":"2024-10-15T04:18:24","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=13834"},"modified":"2024-10-15T04:18:24","modified_gmt":"2024-10-15T04:18:24","slug":"ethereum-price-surges-can-the-rally-sustain","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=13834","title":{"rendered":"Ethereum Price Surges: Can the Rally Sustain?"},"content":{"rendered":"

Ethereum price started a fresh increase above the $2,500 resistance. ETH is up over 5% and might continue to rise if it clears the $2,650 resistance.<\/em><\/p>\n

Ethereum started a fresh increase above the $2,500 and $2,550 resistance levels.
\nThe price is trading above $2,550 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $2,52 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rally if it clears the $2,620 and $2,650 resistance levels.<\/p>\n

Ethereum Price Jumps Over 5%<\/h2>\n

Ethereum price formed a base above the $2,400 level and started a fresh increase<\/a>. ETH cleared the $2,450 and $2,500 resistance levels to move into a positive zone, beating Bitcoin<\/a>.<\/p>\n

The bulls even pushed the price above the $2,600 level. A high was formed at $2,650 and the price is now consolidating gains. The price is stable above the 23.6% Fib retracement level of the upward wave from the $2,442 swing low to the $2,650 high.<\/p>\n

Ethereum price is now trading above $2,550 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $2,52 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price seems to be facing hurdles near the $2,640 level. The first major resistance is near the $2,650 level. A clear move above the $2,650 resistance might send the price toward the $2,720 resistance. An upside break above the $2,720 resistance might call for more gains in the coming sessions.<\/p>\n

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

In the stated case, Ether could rise toward the $2,800 resistance zone in the near term. The next hurdle sits near the $2,880 level or $2,920.<\/p>\n

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

If Ethereum fails to clear the $2,650 resistance, it could start another decline. Initial support on the downside is near the $2,600 level. The first major support sits near the $2,520 zone and the trend line or the 61.8% Fib retracement level of the upward wave from the $2,442 swing low to the $2,650 high.<\/p>\n

A clear move below the $2,520 support might push the price toward $2,450. Any more losses might send the price toward the $2,400 support level in the near term. The next key support sits at $2,350.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing 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 $2,600<\/p>\n

Major Resistance Level \u2013 $2,650<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a fresh increase above the $2,500 resistance. ETH is up over 5% and might continue to rise if it clears the $2,650 resistance. Ethereum started a fresh increase above the $2,500 and $2,550 resistance levels. The price is trading above $2,550 and the 100-hourly Simple Moving Average. There is a key bullish […]<\/p>\n","protected":false},"author":0,"featured_media":13835,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-13834","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\/13834"}],"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=13834"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/13834\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/13835"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}