{"id":16076,"date":"2024-10-24T03:28:39","date_gmt":"2024-10-24T03:28:39","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=16076"},"modified":"2024-10-24T03:28:39","modified_gmt":"2024-10-24T03:28:39","slug":"ethereum-price-faces-key-hurdles-can-it-break-through","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=16076","title":{"rendered":"Ethereum Price Faces Key Hurdles: Can It Break Through?"},"content":{"rendered":"

Ethereum price extended losses and tested the $2,450 support zone. ETH is recovering losses and faces many hurdles near the $2,550 level.<\/em><\/p>\n

Ethereum started a downside correction below the $2,550 support.
\nThe price is trading below $2,550 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance at $2,560 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it clears the $2,550 and $2,600 resistance levels.<\/p>\n

Ethereum Price Starts Recovery<\/h2>\n

Ethereum price extended its decline below the $2,600 level like Bitcoin<\/a>. ETH traded below the $2,550 and $2,500 support levels to enter a short-term bearish zone.<\/p>\n

The price traded as low as $2,445 and is currently correcting losses. There was a minor increase above the $2,500 level. The price traded above the 23.6% Fib retracement level of the downward move from the $2,758 swing high to the $2,445 low.<\/p>\n

Ethereum price is now trading below $2,550 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price seems to be facing hurdles near the $2,550 level. There is also a key bearish trend line forming with resistance at $2,560 on the hourly chart of ETH\/USD.<\/p>\n

The first major resistance is near the $2,600 level. It is close to the 50% Fib retracement level of the downward move from the $2,758 swing high to the $2,445 low.<\/p>\n

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

A clear move above the $2,600 resistance might send the price toward the $2,650 resistance. An upside break above the $2,650 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,700 resistance zone in the near term. The next hurdle sits near the $2,720 level or $2,750.<\/p>\n

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

If Ethereum fails to clear the $2,550 resistance, it could start another decline. Initial support on the downside is near the $2,520 level. The first major support sits near the $2,500 zone.<\/p>\n

A clear move below the $2,500 support might push the price toward $2,450. Any more losses might send the price toward the $2,450 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 near the 50 zone.<\/p>\n

Major Support Level \u2013 $2,450<\/p>\n

Major Resistance Level \u2013 $2,550<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price extended losses and tested the $2,450 support zone. ETH is recovering losses and faces many hurdles near the $2,550 level. Ethereum started a downside correction below the $2,550 support. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2,560 […]<\/p>\n","protected":false},"author":0,"featured_media":16077,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16076","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\/16076"}],"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=16076"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/16076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/16077"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}