{"id":41429,"date":"2025-02-04T03:18:22","date_gmt":"2025-02-04T03:18:22","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=41429"},"modified":"2025-02-04T03:18:22","modified_gmt":"2025-02-04T03:18:22","slug":"ethereum-price-recovery-stalls-at-resistance-can-bulls-break-through","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=41429","title":{"rendered":"Ethereum Price Recovery Stalls at Resistance: Can Bulls Break Through?"},"content":{"rendered":"

Ethereum price started a recovery wave above the $2,500 zone. ETH is up nearly 10% and now faces a major resistance near $2,920.<\/em><\/p>\n

Ethereum started a decent upward move above the $2,500 support zone.
\nThe price is trading below $2,900 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance at $2,920 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh decline if it stays below the $2,920 level.<\/p>\n

Ethereum Price Attempts Recovery<\/h2>\n

Ethereum price started a major decline below the $2,800 level, underperforming Bitcoin<\/a>. ETH declined below the $2,650 and $2,500 levels to enter a bearish zone.<\/p>\n

There was a clear move below the $2,200 level. The price declined over 25%<\/a> and tested the $2,120 zone. A low was formed at $2,127 and the price recently started a fresh upward move. There was an increase above the $2,500 level.<\/p>\n

The price surpassed the 50% Fib retracement level of the downward move from the $3,403 wing high to the $2,127 swing low. However, the bears are now active near the $2,900 zone. There is also a key bearish trend line forming with resistance at $2,920 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum price is now trading below $2,900 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,900 level. The first major resistance is near the $2,920 level and the trend line or the 61.8% Fib retracement level of the downward move from the $3,403 wing high to the $2,127 swing low.<\/p>\n

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

The main resistance is now forming near $3,000. A clear move above the $3,000 resistance might send the price toward the $3,120 resistance. An upside break above the $3,120 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,250 resistance zone or even $3,320 in the near term.<\/p>\n

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

If Ethereum fails to clear the $2,900 resistance, it could start another decline. Initial support on the downside is near the $2,765 level. The first major support sits near the $2,650.<\/p>\n

A clear move below the $2,650 support might push the price toward the $2,500 support. Any more losses might send the price toward the $2,420 support level in the near term. The next key support sits at $2,350.<\/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 $2,765<\/p>\n

Major Resistance Level \u2013 $2,920<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a recovery wave above the $2,500 zone. ETH is up nearly 10% and now faces a major resistance near $2,920. Ethereum started a decent upward move above the $2,500 support zone. The price is trading below $2,900 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":41430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-41429","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\/41429"}],"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=41429"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41429\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/41430"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}