{"id":14707,"date":"2024-10-18T03:28:15","date_gmt":"2024-10-18T03:28:15","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=14707"},"modified":"2024-10-18T03:28:15","modified_gmt":"2024-10-18T03:28:15","slug":"ethereum-price-consolidates-preparing-for-the-next-move-higher","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=14707","title":{"rendered":"Ethereum Price Consolidates: Preparing for the Next Move Higher?"},"content":{"rendered":"

Ethereum price is consolidating gains above the $2,580 resistance. ETH could gain pace if it clears the $2,650 resistance zone.<\/em><\/p>\n

Ethereum remained in a positive zone 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 key bullish trend line forming with support near $2,600 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move up if it clears the $2,650 and $2,680 resistance levels.<\/p>\n

Ethereum Price Aims For More Upsides<\/h2>\n

Ethereum price remained stable above the $2,550 pivot level like Bitcoin<\/a>. ETH corrected some gains and tested the $2,550 support level. Recently, it started a fresh increase above the $2,580 and $2,600 resistance levels.<\/p>\n

There was a move above the 50% Fib retracement level of the downward move from the $2,685 swing high to the $2,538 low. The bulls were able to push the price above the $2,620 resistance zone. Besides, there is a key bullish trend line forming with support near $2,600 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 $2,650 level. It is near the 76.4% Fib retracement level of the downward move from the $2,685 swing high to the $2,538 low.<\/p>\n

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

The first major resistance is near the $2,685 level. A clear move above the $2,685 resistance might send the price toward the $2,750 resistance. An upside break above the $2,750 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,840 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 $2,600 level and the trend line. The first major support sits near the $2,570 zone.<\/p>\n

A clear move below the $2,570 support might push the price toward $2,550. Any more losses might send the price toward the $2,480 support level in the near term. The next key support sits at $2,420.<\/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 $2,550<\/p>\n

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

Ethereum price is consolidating gains above the $2,580 resistance. ETH could gain pace if it clears the $2,650 resistance zone. Ethereum remained in a positive zone 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 key bullish trend line forming with support […]<\/p>\n","protected":false},"author":0,"featured_media":14708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-14707","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\/14707"}],"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=14707"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/14707\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/14708"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}