{"id":15211,"date":"2024-10-21T03:28:31","date_gmt":"2024-10-21T03:28:31","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=15211"},"modified":"2024-10-21T03:28:31","modified_gmt":"2024-10-21T03:28:31","slug":"ethereum-bulls-set-sights-on-2850-is-a-surge-imminent","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=15211","title":{"rendered":"Ethereum Bulls Set Sights on $2,850: Is a Surge Imminent?"},"content":{"rendered":"

Ethereum price is extending gains above the $2,650 resistance. ETH could continue to rise toward $2,850 if it clears the $2,750 resistance zone.<\/em><\/p>\n

Ethereum remained in a positive zone above the $2,580 and $2,620 resistance levels.
\nThe price is trading above $2,650 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support near $2,680 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move up if it clears the $2,750 and $2,780 resistance levels.<\/p>\n

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

Ethereum price remained stable above the $2,600 level like Bitcoin<\/a>. ETH extended gains above the $2,650 resistance level to move further into a positive zone.<\/p>\n

The price cleared the $2,700 level and tested $2,765. A high was formed at $2,765 and the price is now consolidating gains. There was a minor decline below the $2,740 level, but the price is stable above the 23.6% Fib retracement level of the upward move from the $2,576 swing low to the $2,765 high.<\/p>\n

Ethereum price is now trading above $2,650 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support near $2,680 on the hourly chart of ETH\/USD. The trend line is near the 50% Fib retracement level of the upward move from the $2,576 swing low to the $2,765 high.<\/p>\n

On the upside, the price seems to be facing hurdles near the $2,750 level. The first major resistance is near the $2,765 level. A clear move above the $2,765 resistance might send the price toward the $2,840 resistance. An upside break above the $2,840 resistance might call for more gains in the coming sessions.<\/p>\n

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

In the stated case, Ether could rise toward the $2,880 resistance zone in the near term. The next hurdle sits near the $2,920 level or $2,950.<\/p>\n

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

If Ethereum fails to clear the $2,750 resistance, it could start another decline. Initial support on the downside is near the $2,720 level. The first major support sits near the $2,680 zone and the trend line.<\/p>\n

A clear move below the $2,720 support might push the price toward $2,650. Any more losses might send the price toward the $2,620 support level in the near term. The next key support sits at $2,550.<\/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 $2,650<\/p>\n

Major Resistance Level \u2013 $2,765<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price is extending gains above the $2,650 resistance. ETH could continue to rise toward $2,850 if it clears the $2,750 resistance zone. Ethereum remained in a positive zone above the $2,580 and $2,620 resistance levels. The price is trading above $2,650 and the 100-hourly Simple Moving Average. There is a key bullish trend line […]<\/p>\n","protected":false},"author":0,"featured_media":15212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-15211","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\/15211"}],"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=15211"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/15211\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/15212"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}