{"id":27471,"date":"2024-12-11T03:28:44","date_gmt":"2024-12-11T03:28:44","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=27471"},"modified":"2024-12-11T03:28:44","modified_gmt":"2024-12-11T03:28:44","slug":"ethereum-price-stabilizes-could-3500-be-the-launchpad-for-a-rally","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=27471","title":{"rendered":"Ethereum Price Stabilizes: Could $3,500 Be The Launchpad for a Rally?"},"content":{"rendered":"

Ethereum price remained stable above the $3,500 zone. ETH is now consolidating and might aim for a move above the $3,750 resistance zone.<\/em><\/p>\n

Ethereum started a downside correction below $3,780 and $3,750.
\nThe price is trading below $3,800 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance at $3,740 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it stays above the $3,500 support zone.<\/p>\n

Ethereum Price Holds Support<\/h2>\n

Ethereum price extended losses below the $3,880 zone like Bitcoin<\/a>. ETH declined below the $3,780 and $3,750 support levels. It even spiked below $3,550.<\/p>\n

A low was formed at $3,488 and the price is now consolidating losses. It recovered some points above the $3,550 and $3,600 levels. The price already tested the 50% Fib retracement level of the downward move from the $4,015 swing high to the $3,488 low.<\/p>\n

However, the bears are active below $3,800 and preventing more upsides<\/a>. Ethereum price is now trading below $3,800 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,750 level. There is also a key bearish trend line forming with resistance at $3,740 on the hourly chart of ETH\/USD.<\/p>\n

The first major resistance is near the $3,815 level or the 61.8% Fib retracement level of the downward move from the $4,015 swing high to the $3,488 low.<\/p>\n

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

The main resistance is now forming near $3,880. A clear move above the $3,880 resistance might send the price toward the $4,000 resistance. An upside break above the $4,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,150 resistance zone or even $4,220.<\/p>\n

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

If Ethereum fails to clear the $3,750 resistance, it could start another decline. Initial support on the downside is near the $3,600 level. The first major support sits near the $3,550 zone.<\/p>\n

A clear move below the $3,550 support might push the price toward the $3,500 support. Any more losses might send the price toward the $3,420 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 bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\n

Major Support Level \u2013 $3,500<\/p>\n

Major Resistance Level \u2013 $3,750<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price remained stable above the $3,500 zone. ETH is now consolidating and might aim for a move above the $3,750 resistance zone. Ethereum started a downside correction below $3,780 and $3,750. The price is trading below $3,800 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at […]<\/p>\n","protected":false},"author":0,"featured_media":27472,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-27471","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\/27471"}],"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=27471"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27471\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/27472"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}