{"id":40521,"date":"2025-01-31T03:28:18","date_gmt":"2025-01-31T03:28:18","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=40521"},"modified":"2025-01-31T03:28:18","modified_gmt":"2025-01-31T03:28:18","slug":"ethereum-price-gains-traction-can-it-sustain-the-climb","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=40521","title":{"rendered":"Ethereum Price Gains Traction: Can It Sustain the Climb?"},"content":{"rendered":"

Ethereum price started a fresh increase above $3,220. ETH is now consolidating and might eye more gains above the $3,270 resistance zone.<\/em><\/p>\n

Ethereum started a fresh increase above the $3,120 zone.
\nThe price is trading above $3,200 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance at $3,200 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start another increase if it stays above the $3,200 level.<\/p>\n

Ethereum Price Recovers<\/h2>\n

Ethereum price started a decent increase from the $3,020 zone, like Bitcoin<\/a>. ETH was able to surpass the $3,120 and $3,150 resistance levels to move into a positive zone.<\/p>\n

There was a break above a key bearish trend line with resistance at $3,200 on the hourly chart of ETH\/USD. The pair surpassed the 50% Fib retracement level of the downward move from the $3,427 wing high to the $3,020 swing low.<\/p>\n

However, the bears are now active near the $3,270 and $3,280 resistance levels<\/a>. Ethereum price is now trading above $3,200 and the 100-hourly Simple Moving Average.<\/p>\n

On the upside, the price seems to be facing hurdles near the $3,270 level and the 61.8% Fib retracement level of the downward move from the $3,427 wing high to the $3,020 swing low. The first major resistance is near the $3,330 level. The main resistance is now forming near $3,360. A clear move above the $3,360 resistance might send the price toward the $3,450 resistance.<\/p>\n

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

An upside break above the $3,450 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,550 resistance zone or even $3,650 in the near term.<\/p>\n

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

If Ethereum fails to clear the $3,270 resistance, it could start another decline. Initial support on the downside is near the $3,220 level. The first major support sits near the $3,200.<\/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 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 $3,200<\/p>\n

Major Resistance Level \u2013 $3,270<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a fresh increase above $3,220. ETH is now consolidating and might eye more gains above the $3,270 resistance zone. Ethereum started a fresh increase above the $3,120 zone. The price is trading above $3,200 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance […]<\/p>\n","protected":false},"author":0,"featured_media":40522,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-40521","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\/40521"}],"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=40521"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/40521\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/40522"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}