{"id":28967,"date":"2024-12-17T03:18:44","date_gmt":"2024-12-17T03:18:44","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=28967"},"modified":"2024-12-17T03:18:44","modified_gmt":"2024-12-17T03:18:44","slug":"ethereum-gears-up-for-a-record-high-can-it-break-through","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=28967","title":{"rendered":"Ethereum Gears Up for a Record High: Can It Break Through?"},"content":{"rendered":"

Ethereum price started a decent increase above the $3,950 zone. ETH is consolidating gains and might aim for a move above the $4,150 resistance zone.<\/em><\/p>\n

Ethereum started a decent increase above $3,950 and $4,000.
\nThe price is trading below $3,980 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $3,940 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move up if it clears the $4,080 and $4,120 resistance levels.<\/p>\n

Ethereum Price Regains Momentum<\/h2>\n

Ethereum price remained stable and extended gains above $3,880 but it underperformed Bitcoin<\/a>. ETH was able to climb above the $3,980 and $4,000 resistance levels.<\/p>\n

The bulls pushed the pair above the $4,050 and $4,080 resistance levels. A high was formed at $4,107 before there was a pullback. There was a minor decline below the $4,000 level. The price traded as low as $3,946 and is currently rising<\/a>.<\/p>\n

There was a move above the 23.6% Fib retracement level of the downward move from the $4,107 swing high to the $3,946 low. Ethereum price is now trading above $4,000 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $3,940 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price seems to be facing hurdles near the $4,025 level. The first major resistance is near the $4,070 level or the 76.4% Fib retracement level of the downward move from the $4,107 swing high to the $3,946 low.<\/p>\n

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

The main resistance is now forming near $4,120. A clear move above the $4,120 resistance might send the price toward the $4,250 resistance. An upside break above the $4,250 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,350 resistance zone or even $4,500.<\/p>\n

Downside Correction In ETH?<\/h2>\n

If Ethereum fails to clear the $4,120 resistance, it could start another decline. Initial support on the downside is near the $3,980 level. The first major support sits near the $3,940 zone.<\/p>\n

A clear move below the $3,940 support might push the price toward the $3,880 support. Any more losses might send the price toward the $3,800 support level in the near term. The next key support sits at $3,750.<\/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 $3,940<\/p>\n

Major Resistance Level \u2013 $4,120<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a decent increase above the $3,950 zone. ETH is consolidating gains and might aim for a move above the $4,150 resistance zone. Ethereum started a decent increase above $3,950 and $4,000. The price is trading below $3,980 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":28968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-28967","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\/28967"}],"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=28967"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/28967\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/28968"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}