{"id":19728,"date":"2024-11-12T03:18:57","date_gmt":"2024-11-12T03:18:57","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=19728"},"modified":"2024-11-12T03:18:57","modified_gmt":"2024-11-12T03:18:57","slug":"ethereum-price-moves-up-yet-lags-behind-bitcoins-momentum","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=19728","title":{"rendered":"Ethereum Price Moves Up, Yet Lags Behind Bitcoin\u2019s Momentum"},"content":{"rendered":"

Ethereum price started a fresh increase above the $3,120 resistance. ETH is showing positive signs but struggling to catch up Bitcoin\u2019s momentum.<\/em><\/p>\n

Ethereum started a fresh increase above the $3,000 resistance zone.
\nThe price is trading above $3,120 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $3,230 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it clears the $3,350 resistance.<\/p>\n

Ethereum Price Eyes Steady Increase<\/h2>\n

Ethereum price started a fresh increase above the $2,880 resistance like Bitcoin<\/a>. ETH was able to climb above the $3,000 and $3,120 resistance levels to move further into a positive zone.<\/p>\n

It even surged above the $3,250 level in the past few sessions. It is up over 5% and there was a move above $3,350. A high is formed at $3,390 before there was a minor pullback. There was a move below the 23.6% Fib retracement level of the upward wave from the $3,080 swing low to the $3,390 high.<\/p>\n

Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support at $3,230 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the upward wave from the $3,080 swing low to the $3,390 high.<\/p>\n

On the upside, the price seems to be facing hurdles near the $3,350 level. The first major resistance is near the $3,390 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance.<\/p>\n

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

An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,680 resistance zone.<\/p>\n

Are Dips Limited In ETH?<\/h2>\n

If Ethereum fails to clear the $3,350 resistance, it could start a downside correction. Initial support on the downside is near the $3,280 level. The first major support sits near the $3,250 zone and the trend line.<\/p>\n

A clear move below the $3,250 support might push the price toward $3,150. Any more losses might send the price toward the $3,080 support level in the near term. The next key support sits at $3,000.<\/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 $3,250<\/p>\n

Major Resistance Level \u2013 $3,350<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a fresh increase above the $3,120 resistance. ETH is showing positive signs but struggling to catch up Bitcoin\u2019s momentum. Ethereum started a fresh increase above the $3,000 resistance zone. The price is trading above $3,120 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at […]<\/p>\n","protected":false},"author":0,"featured_media":19729,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-19728","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\/19728"}],"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=19728"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19728\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/19729"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}