{"id":42092,"date":"2025-02-06T03:18:19","date_gmt":"2025-02-06T03:18:19","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=42092"},"modified":"2025-02-06T03:18:19","modified_gmt":"2025-02-06T03:18:19","slug":"ethereum-price-sets-its-sights-on-higher-levels-can-bulls-maintain-momentum","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=42092","title":{"rendered":"Ethereum Price Sets Its Sights on Higher Levels: Can Bulls Maintain Momentum?"},"content":{"rendered":"

Ethereum price started a recovery wave above the $2,650 zone. ETH is showing positive signs and might aim for a move above the $2,880 resistance.<\/em><\/p>\n

Ethereum started a decent upward move above the $2,650 zone.
\nThe price is trading below $2,850 and the 100-hourly Simple Moving Average.
\nThere was a break above a short-term declining channel with resistance at $2,780 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh decline if it stays below the $2,880 level.<\/p>\n

Ethereum Price Recovery Gains Pace<\/h2>\n

Ethereum price started a recovery wave after it dropped heavily below $2,500, underperforming Bitcoin<\/a>. ETH tested the $2,120 zone and recently started a decent upward move.<\/p>\n

The price was able to surpass the $2,550 and $2,650 resistance levels. It even climbed above the 50% Fib retracement level of the downward wave from the $3,400 swing high to the $2,120 swing low. There was also a break above a short-term declining channel with resistance at $2,780 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum price is now trading below $2,850 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price seems to be facing hurdles near the $2,840 level and the 100-hourly Simple Moving Average.<\/p>\n

The first major resistance is near the $2,880 level. The main resistance is now forming near $2,920 or the 61.8% Fib retracement level of the downward wave from the $3,400 swing high to the $2,120 swing low. A clear move above the $2,920 resistance might send the price toward the $3,000 resistance.<\/p>\n

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

An upside break above the $3,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,120 resistance zone or even $3,250 in the near term.<\/p>\n

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

If Ethereum fails to clear the $2,840 resistance, it could start another decline. Initial support on the downside is near the $2,700 level. The first major support sits near the $2,640 zone.<\/p>\n

A clear move below the $2,640 support might push the price toward the $2,550 support. Any more losses might send the price toward the $2,550 support level in the near term. The next key support sits at $2,500.<\/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 $2,640<\/p>\n

Major Resistance Level \u2013 $2,880<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a recovery wave above the $2,650 zone. ETH is showing positive signs and might aim for a move above the $2,880 resistance. Ethereum started a decent upward move above the $2,650 zone. The price is trading below $2,850 and the 100-hourly Simple Moving Average. There was a break above a short-term declining […]<\/p>\n","protected":false},"author":0,"featured_media":42093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-42092","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\/42092"}],"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=42092"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/42092\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/42093"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}