{"id":24402,"date":"2024-11-29T03:18:14","date_gmt":"2024-11-29T03:18:14","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=24402"},"modified":"2024-11-29T03:18:14","modified_gmt":"2024-11-29T03:18:14","slug":"ethereum-price-strengthens-base-a-springboard-for-more-gains","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=24402","title":{"rendered":"Ethereum Price Strengthens Base: A Springboard for More Gains?"},"content":{"rendered":"

Ethereum price is holding gains above the $3,500 zone. ETH is consolidating and might soon aim for a move above the $3,600 resistance zone.<\/em><\/p>\n

Ethereum started a downside correction from the $3,685 zone.
\nThe price is trading above $3,520 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance at $3,600 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could restart its increase if it clears the $3,600 zone.<\/p>\n

Ethereum Price Eyes Fresh Surge<\/h2>\n

Ethereum price remained supported above $3,250 and started a fresh increase beating Bitcoin<\/a>. ETH was able to surpass the $3,500 and $3,550 resistance levels.<\/p>\n

The bulls pumped the price above the $3,650 level. A high was formed at $3,688 and the price recently corrected some gains<\/a>. There was a minor decline below the $3,650 and $3,620 levels. The price dipped below the 23.6% Fib retracement level of the upward wave from the $3,255 swing low to the $3,688 high.<\/p>\n

Ethereum price is now trading above $3,520 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,600 level. There is also a connecting bearish trend line forming with resistance at $3,600 on the hourly chart of ETH\/USD.<\/p>\n

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

The first major resistance is near the $3,650 level. The main resistance is now forming near $3,680. A clear move above the $3,680 resistance might send the price toward the $3,750 resistance. An upside break above the $3,750 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,880 resistance zone or even $3,920.<\/p>\n

More Losses In ETH?<\/h2>\n

If Ethereum fails to clear the $3,650 resistance, it could start another decline. Initial support on the downside is near the $3,540 level. The first major support sits near the $3,500 zone.<\/p>\n

A clear move below the $3,500 support might push the price toward the 50% Fib retracement level of the upward move from the $3,254 swing low to the $3,688 high at $3,470. Any more losses might send the price toward the $3,400 support level in the near term. The next key support sits at $3,350.<\/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 $3,540<\/p>\n

Major Resistance Level \u2013 $3,650<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price is holding gains above the $3,500 zone. ETH is consolidating and might soon aim for a move above the $3,600 resistance zone. Ethereum started a downside correction from the $3,685 zone. The price is trading above $3,520 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance […]<\/p>\n","protected":false},"author":0,"featured_media":24403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-24402","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\/24402"}],"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=24402"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24402\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/24403"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}