{"id":16810,"date":"2024-10-31T04:28:05","date_gmt":"2024-10-31T04:28:05","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=16810"},"modified":"2024-10-31T04:28:05","modified_gmt":"2024-10-31T04:28:05","slug":"ethereum-price-consolidates-gains-is-it-ready-for-another-push","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=16810","title":{"rendered":"Ethereum Price Consolidates Gains: Is It Ready for Another Push?"},"content":{"rendered":"

Ethereum price started a fresh increase above the $2,600 resistance. ETH is consolidating gains and might aim for a move above the $2,720 resistance.<\/em><\/p>\n

Ethereum started a decent increase above the $2,650 zone.
\nThe price is trading above $2,600 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $2,540 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it clears the $2,650 and $2,720 resistance levels.<\/p>\n

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

Ethereum price formed a base above the $2,550 level and started a fresh increase like Bitcoin<\/a>. ETH climbed above the $2,600 and $2,620 resistance levels to move into a positive zone.<\/p>\n

The price even broke the $2,650 resistance. A high is formed at $2,719 and the price is now consolidating gains. There was a minor decline below the $2,680 level. The price dipped below the 23.6% Fib retracement level of the upward wave from the $2,489 swing low to the $2,719 high.<\/p>\n

Ethereum price is now trading above $2,600 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support at $2,540 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price seems to be facing hurdles near the $2,650 level. The first major resistance is near the $2,700 level. The main resistance is now forming near $2,720. A clear move above the $2,720 resistance might send the price toward the $2,880 resistance.<\/p>\n

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

An upside break above the $2,880 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,000 resistance zone.<\/p>\n

Downside Correction In ETH?<\/h2>\n

If Ethereum fails to clear the $2,650 resistance, it could start a downside correction. Initial support on the downside is near the $2,600 level and the 50% Fib retracement level of the upward wave from the $2,489 swing low to the $2,719 high.<\/p>\n

The first major support sits near the $2,540 zone. A clear move below the $2,540 support might push the price toward $2,500. Any more losses might send the price toward the $2,450 support level in the near term. The next key support sits at $2,320.<\/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 $2,600 resistance. ETH is consolidating gains and might aim for a move above the $2,720 resistance. Ethereum started a decent increase above the $2,650 zone. 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":16811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16810","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\/16810"}],"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=16810"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/16810\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/16811"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}