{"id":14421,"date":"2024-10-17T03:28:25","date_gmt":"2024-10-17T03:28:25","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=14421"},"modified":"2024-10-17T03:28:25","modified_gmt":"2024-10-17T03:28:25","slug":"crypto-watch-ethereum-poised-for-upside-break","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=14421","title":{"rendered":"Crypto Watch: Ethereum Poised for Upside Break!"},"content":{"rendered":"

Ethereum price is consolidating gains above the $2,550 resistance. ETH could gain pace if it clears the $2,650 resistance zone.<\/em><\/p>\n

Ethereum started a fresh increase above the $2,550 and $2,580 resistance levels.
\nThe price is trading above $2,600 and the 100-hourly Simple Moving Average.
\nThere is a connecting bullish trend line forming with support near $2,610 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rally if it clears the $2,650 and $2,680 resistance levels.<\/p>\n

Ethereum Price Eyes More Upsides<\/h2>\n

Ethereum price remained stable above the $2,550 pivot level like Bitcoin<\/a>. ETH cleared the $2,600 and $2,620 resistance levels. The price even spiked above $2,650 before there was a downside correction.<\/p>\n

The price is again rising and trading above the $2,600 level. The bulls were able to clear the 50% Fib retracement level of the downward wave from the $2,685 swing high to the $2,538 low. There is also a connecting bullish trend line forming with support near $2,610 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum price is now trading above $2,600 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price seems to be facing hurdles near the $2,635 level. The first major resistance is near the $2,650 level or the 76.4% Fib retracement level of the downward wave from the $2,685 swing high to the $2,538 low.<\/p>\n

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

A clear move above the $2,650 resistance might send the price toward the $2,680 resistance. An upside break above the $2,680 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,750 resistance zone in the near term. The next hurdle sits near the $2,880 level or $2,920.<\/p>\n

Another Drop 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 $2,610 level and the trend line. The first major support sits near the $2,575 zone.<\/p>\n

A clear move below the $2,575 support might push the price toward $2,550. Any more losses might send the price toward the $2,475 support level in the near term. The next key support sits at $2,450.<\/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 $2,575<\/p>\n

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

Ethereum price is consolidating gains above the $2,550 resistance. ETH could gain pace if it clears the $2,650 resistance zone. Ethereum started a fresh increase above the $2,550 and $2,580 resistance levels. The price is trading above $2,600 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support near […]<\/p>\n","protected":false},"author":0,"featured_media":14422,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-14421","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\/14421"}],"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=14421"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/14421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/14422"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}