{"id":33440,"date":"2025-01-06T06:08:36","date_gmt":"2025-01-06T06:08:36","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=33440"},"modified":"2025-01-06T06:08:36","modified_gmt":"2025-01-06T06:08:36","slug":"ethereum-price-on-the-rise-can-momentum-fuel-bigger-gains","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=33440","title":{"rendered":"Ethereum Price on the Rise: Can Momentum Fuel Bigger Gains?"},"content":{"rendered":"

Ethereum price started a fresh recovery wave above the $3,550 zone. ETH is consolidating and aims for a fresh increase above the $3,700 resistance.<\/em><\/p>\n

Ethereum started a decent recovery wave above the $3,550 zone.
\nThe price is trading above $3,620 and the 100-hourly Simple Moving Average.
\nThere is a connecting bullish trend line forming with support at $3,620 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if it clears the $3,700 resistance level.<\/p>\n

Ethereum Price Climbs Above $3,650<\/h2>\n

Ethereum price remained stable above the $3,420 level and extended its recovery wave like Bitcoin<\/a>. ETH gained pace for a move above the $3,550 and $3,620 resistance levels.<\/p>\n

The bulls were able to surpass the $3,650 resistance level. It opened the doors for a move toward the $3,700 level. A high was formed at $3,694 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $3,569 swing low to the $3,694 high.<\/p>\n

Ethereum price is now trading above $3,650 and the 100-hourly Simple Moving Average<\/a>. There is also a connecting bullish trend line forming with support at $3,620 on the hourly chart of ETH\/USD. The trend line is close to the 76.4% Fib retracement level of the upward move from the $3,569 swing low to the $3,694 high.<\/p>\n

On the upside, the price seems to be facing hurdles near the $3,700 level. The first major resistance is near the $3,720 level. The main resistance is now forming near $3,800. A clear move above the $3,800 resistance might send the price toward the $3,880 resistance.<\/p>\n

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

An upside break above the $3,880 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,920 resistance zone or even $4,000 in the near term.<\/p>\n

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

If Ethereum fails to clear the $3,700 resistance, it could start another decline. Initial support on the downside is near the $3,620 level and the trend line. The first major support sits near the $3,550.<\/p>\n

A clear move below the $3,550 support might push the price toward the $3,500 support. Any more losses might send the price toward the $3,420 support level in the near term. The next key support sits at $3,350.<\/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 $3,620<\/p>\n

Major Resistance Level \u2013 $3,700<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a fresh recovery wave above the $3,550 zone. ETH is consolidating and aims for a fresh increase above the $3,700 resistance. Ethereum started a decent recovery wave above the $3,550 zone. The price is trading above $3,620 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":33441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-33440","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\/33440"}],"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=33440"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/33440\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/33441"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}