{"id":30750,"date":"2024-12-24T03:18:14","date_gmt":"2024-12-24T03:18:14","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=30750"},"modified":"2024-12-24T03:18:14","modified_gmt":"2024-12-24T03:18:14","slug":"ethereum-price-attempts-a-comeback-is-a-rebound-imminent","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=30750","title":{"rendered":"Ethereum Price Attempts a Comeback: Is a Rebound Imminent?"},"content":{"rendered":"

Ethereum price extended losses and dropped below the $3,450 zone. ETH is now recovering some losses and might rise if it clears the $3,445 resistance.<\/em><\/p>\n

Ethereum started a fresh decline below the $3,500 zone.
\nThe price is trading below $3,450 and the 100-hourly Simple Moving Average.
\nThere was a break above a connecting bearish trend line with resistance at $3,300 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if it clears the $3,450 and $3,500 resistance levels.<\/p>\n

Ethereum Price Stays Above $3,200<\/h2>\n

Ethereum price struggled to start a fresh increase above the $3,500 level and extended losses like Bitcoin<\/a>. ETH gained bearish momentum below the $3,400 level and traded below $3,320.<\/p>\n

The price is now consolidating above the $3,220 and $3,200 support levels. A low was formed at $3,220 and the price is now consolidating losses. There was a break above the $3,250 level. The price cleared the 50% Fib retracement level of the downward move from the $3,553 swing high to the $3,220 low.<\/p>\n

There was a\u00a0 break above a connecting bearish trend line with resistance at $3,300 on the hourly chart of ETH\/USD. Ethereum price is now trading below $3,450 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

On the upside, the price seems to be facing hurdles near the $3,445 level. It is close to the 61.8% Fib retracement level of the downward move from the $3,553 swing high to the $3,220 low. The first major resistance is near the $3,480 level.<\/p>\n

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

The main resistance is now forming near $3,550. A clear move above the $3,550 resistance might send the price toward the $3,650 resistance. An upside break above the $3,650 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,720 resistance zone or even $3,800.<\/p>\n

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

If Ethereum fails to clear the $3,445 resistance, it could continue to move down. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,220 zone.<\/p>\n

A clear move below the $3,200 support might push the price toward the $3,120 support. Any more losses might send the price toward the $3,050 support level in the near term. The next key support sits at $3,000.<\/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 above the 50 zone.<\/p>\n

Major Support Level \u2013 $3,220<\/p>\n

Major Resistance Level \u2013 $3,445<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price extended losses and dropped below the $3,450 zone. ETH is now recovering some losses and might rise if it clears the $3,445 resistance. Ethereum started a fresh decline below the $3,500 zone. The price is trading below $3,450 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend […]<\/p>\n","protected":false},"author":0,"featured_media":30751,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-30750","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\/30750"}],"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=30750"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30750\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/30751"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}