{"id":31015,"date":"2024-12-25T03:48:41","date_gmt":"2024-12-25T03:48:41","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=31015"},"modified":"2024-12-25T03:48:41","modified_gmt":"2024-12-25T03:48:41","slug":"ethereum-price-approaches-critical-resistance-a-turning-point","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=31015","title":{"rendered":"Ethereum Price Approaches Critical Resistance: A Turning Point?"},"content":{"rendered":"

Ethereum price started a recovery wave from the $3,220 support. ETH is now recovering some losses and might rise if it clears the $3,550 resistance.<\/em><\/p>\n

Ethereum started a fresh increase above the $3,350 zone.
\nThe price is trading above $3,420 and the 100-hourly Simple Moving Average.
\nThere is a connecting bullish trend line forming with support at $3,425 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if it clears the $3,520 and $3,550 resistance levels.<\/p>\n

Ethereum Price Starts Recovery<\/h2>\n

Ethereum price remained stable above $3,220 and started a recovery wave like Bitcoin<\/a>. ETH was able to climb above the $3,350 and $3,400 resistance levels.<\/p>\n

The price even cleared the $3,500 resistance level. However, the bears remained active below the $3,550 level. A high was formed at $3,534 and the price is now consolidating gains. It corrected some points below the 23.6% Fib retracement level of the recent wave from the $3,226 swing low to the $3,534 high.<\/p>\n

Ethereum price is now trading above $3,420 and the 100-hourly Simple Moving Average<\/a>. There is also a connecting bullish trend line forming with support at $3,425 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price seems to be facing hurdles near the $3,520 level. The first major resistance is near the $3,540 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 $3,550 resistance, it could continue to move down. Initial support on the downside is near the $3,425 level and the trend line. The first major support sits near the $3,375 zone.<\/p>\n

A clear move below the $3,375 support might push the price toward the $3,320 support. Any more losses might send the price toward the $3,220 support level in the near term. The next key support sits at $3,110.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing 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 $3,425<\/p>\n

Major Resistance Level \u2013 $3,550<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a recovery wave from the $3,220 support. ETH is now recovering some losses and might rise if it clears the $3,550 resistance. Ethereum started a fresh increase above the $3,350 zone. The price is trading above $3,420 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":31016,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31015","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\/31015"}],"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=31015"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31015\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/31016"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}