{"id":28676,"date":"2024-12-16T03:38:47","date_gmt":"2024-12-16T03:38:47","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=28676"},"modified":"2024-12-16T03:38:47","modified_gmt":"2024-12-16T03:38:47","slug":"ethereum-eyes-bitcoins-lead-is-a-similar-surge-possible","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=28676","title":{"rendered":"Ethereum Eyes Bitcoin\u2019s Lead: Is a Similar Surge Possible?"},"content":{"rendered":"

Ethereum price started a decent increase above the $3,900 zone. ETH is consolidating gains and might aim for a move above the $4,000 resistance zone.<\/em><\/p>\n

Ethereum started a decent increase above $3,880 and $3,920.
\nThe price is trading below $3,920 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance at $3,900 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move up if it clears the $3,980 and $4,020 resistance levels.<\/p>\n

Ethereum Price Faces Resistance<\/h2>\n

Ethereum price remained stable and extended gains above $3,850 but it underperformed Bitcoin<\/a>. ETH was able to climb above the $3,920 and $3,980 resistance levels.<\/p>\n

There was a break above a key bearish trend line with resistance at $3,900 on the hourly chart of ETH\/USD. The bulls pushed the pair above the $4,000 and $4,010 resistance levels. A high was formed at $4,019 and the price is now consolidating gains<\/a>. There was a minor decline below the $3,980 level.<\/p>\n

The price even dipped below the 23.6% Fib retracement level of the upward move from the $3,831 swing low to the $4,019 high. Ethereum price is now trading above $3,880 and the 100-hourly Simple Moving Average.<\/p>\n

On the upside, the price seems to be facing hurdles near the $4,000 level. The first major resistance is near the $4,020 level. The main resistance is now forming near $4,050. A clear move above the $4,050 resistance might send the price toward the $4,150 resistance.<\/p>\n

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

An upside break above the $4,150 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,250 resistance zone or even $4,320.<\/p>\n

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

If Ethereum fails to clear the $4,000 resistance, it could start another decline. Initial support on the downside is near the $3,920 level and the 50% Fib retracement level of the upward move from the $3,831 swing low to the $4,019 high. The first major support sits near the $3,880 zone.<\/p>\n

A clear move below the $3,880 support might push the price toward the $3,840 support. Any more losses might send the price toward the $3,750 support level in the near term. The next key support sits at $3,650.<\/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 $3,920<\/p>\n

Major Resistance Level \u2013 $4,000<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a decent increase above the $3,900 zone. ETH is consolidating gains and might aim for a move above the $4,000 resistance zone. Ethereum started a decent increase above $3,880 and $3,920. The price is trading below $3,920 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend […]<\/p>\n","protected":false},"author":0,"featured_media":28677,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-28676","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\/28676"}],"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=28676"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/28676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/28677"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}