{"id":27781,"date":"2024-12-12T03:28:14","date_gmt":"2024-12-12T03:28:14","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=27781"},"modified":"2024-12-12T03:28:14","modified_gmt":"2024-12-12T03:28:14","slug":"ethereum-price-preps-for-breakout-will-bulls-drive-a-massive-upswing","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=27781","title":{"rendered":"Ethereum Price Preps for Breakout: Will Bulls Drive a Massive Upswing?"},"content":{"rendered":"

Ethereum price started a decent increase above the $3,650 zone. ETH is now rising and might aim for a move above the $3,900 resistance zone.<\/em><\/p>\n

Ethereum started a decent increase above $3,650 and $3,680.
\nThe price is trading below $3,750 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance at $3,720 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move up if it clears the $3,850 and $3,900 resistance levels.<\/p>\n

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

Ethereum price remained stable above $3,500 and started a fresh increase like Bitcoin<\/a>. ETH was able to climb above the $3,650 and $3,720 resistance levels.<\/p>\n

There was a break above a key bearish trend line with resistance at $3,720 on the hourly chart of ETH\/USD. The bulls pushed the pair above the 50% Fib retracement level of the downward wave from the $4,015 swing high to the $3,488 low.<\/p>\n

The price even spiked above the $3,800 resistance zone<\/a>. Ethereum price is now trading above $3,750 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,850 level.<\/p>\n

The first major resistance is near the $3,890 level or the 76.4% Fib retracement level of the downward wave from the $4,015 swing high to the $3,488 low. The main resistance is now forming near $4,000. A clear move above the $4,000 resistance might send the price toward the $4,050 resistance.<\/p>\n

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

An upside break above the $4,050 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 Drop In ETH?<\/h2>\n

If Ethereum fails to clear the $3,890 resistance, it could start another decline. Initial support on the downside is near the $3,800 level. The first major support sits near the $3,750 zone.<\/p>\n

A clear move below the $3,750 support might push the price toward the $3,650 support. Any more losses might send the price toward the $3,550 support level in the near term. The next key support sits at $3,500.<\/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 $3,750<\/p>\n

Major Resistance Level \u2013 $3,890<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a decent increase above the $3,650 zone. ETH is now rising and might aim for a move above the $3,900 resistance zone. Ethereum started a decent increase above $3,650 and $3,680. The price is trading below $3,750 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend […]<\/p>\n","protected":false},"author":0,"featured_media":27782,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-27781","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\/27781"}],"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=27781"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/27782"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}