{"id":18215,"date":"2024-11-06T03:18:34","date_gmt":"2024-11-06T03:18:34","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=18215"},"modified":"2024-11-06T03:18:34","modified_gmt":"2024-11-06T03:18:34","slug":"ethereum-price-resumes-its-climb-is-a-bigger-rally-on-the-way","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=18215","title":{"rendered":"Ethereum Price Resumes Its Climb: Is a Bigger Rally on The Way?"},"content":{"rendered":"

Ethereum price found support near $2,350 and started a fresh increase. ETH is rising and might aim for a move above the $2,580 resistance.<\/em><\/p>\n

Ethereum started a fresh surge above the $2,500 resistance zone.
\nThe price is trading above $2,500 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance at $2,460 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if it settles above $2,580 and $2,620.<\/p>\n

Ethereum Price Restarts Increase<\/h2>\n

Ethereum price found support near $2,350 and started a fresh increase like Bitcoin<\/a>. ETH was able to climb above the $2,420 and $2,450 resistance levels to move into a positive zone.<\/p>\n

It cleared the 50% Fib retracement level of the downward move from the $2,583 swing high to the $2,357 low. Besides, there was a break above a key bearish trend line with resistance at $2,460 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum price is now trading above $2,500 and the 100-hourly Simple Moving Average<\/a>. It is also above the 76.4% Fib retracement level of the downward move from the $2,583 swing high to the $2,357 low.<\/p>\n

On the upside, the price seems to be facing hurdles near the $2,580 level. The first major resistance is near the $2,620 level. The main resistance is now forming near $2,650. A clear move above the $2,650 resistance might send the price toward the $2,720 resistance.<\/p>\n

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

An upside break above the $2,720 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,750 resistance zone.<\/p>\n

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

If Ethereum fails to clear the $2,620 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 $2,320 support level in the near term. The next key support sits at $2,350.<\/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 $2,450<\/p>\n

Major Resistance Level \u2013 $2,620<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price found support near $2,350 and started a fresh increase. ETH is rising and might aim for a move above the $2,580 resistance. Ethereum started a fresh surge above the $2,500 resistance zone. The price is trading above $2,500 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend […]<\/p>\n","protected":false},"author":0,"featured_media":18216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-18215","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\/18215"}],"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=18215"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/18215\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/18216"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}