{"id":43739,"date":"2025-02-12T03:28:01","date_gmt":"2025-02-12T03:28:01","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=43739"},"modified":"2025-02-12T03:28:01","modified_gmt":"2025-02-12T03:28:01","slug":"ethereum-price-consolidates-at-support-will-it-fuel-the-next-move","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=43739","title":{"rendered":"Ethereum Price Consolidates at Support\u2014Will It Fuel the Next Move?"},"content":{"rendered":"

Ethereum price is consolidating above the $2,500 zone. ETH might gain bullish momentum if it clears the $2,700 resistance zone.<\/em><\/p>\n

Ethereum started a fresh decline below the $2,650 level.
\nThe price is trading below $2,680 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance at $2,690 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent upward move if it settles above $2,700 and $2,735.<\/p>\n

Ethereum Price Eyes Upside Break<\/h2>\n

Ethereum price started a fresh decline below the $2,800 support zone, like Bitcoin<\/a>. ETH declined below the $2,750 and $2,700 support levels to move into a short-term bearish zone.<\/p>\n

The price dipped and tested the 50% Fib retracement level of the upward wave from the $2,125 swing low to the $2,922 high. Finally, it found support near the $2,500 zone. The price is now consolidating<\/a> and seems to be forming a base above the $2,500 level.<\/p>\n

Ethereum price is now trading below $2,680 and the 100-hourly Simple Moving Average. There is also a connecting bearish trend line forming with resistance at $2,690 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price seems to be facing hurdles near the $2,680 level. The first major resistance is near the $2,735 level. The main resistance is now forming near $2,800 or $2,820. A clear move above the $2,820 resistance might send the price toward the $2,920 resistance.<\/p>\n

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

An upside break above the $2,920 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,000 resistance zone or even $3,050 in the near term.<\/p>\n

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

If Ethereum fails to clear the $2,700 resistance, it could start another decline. Initial support on the downside is near the $2,550 level. The first major support sits near the $2,520 zone.<\/p>\n

A clear move below the $2,520 support might push the price toward the $2,440 support or the 61.8% Fib retracement level of the upward wave from the $2,125 swing low to the $2,922 high. Any more losses might send the price toward the $2,365 support level in the near term. The next key support sits at $2,250.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\n

Major Support Level \u2013 $2,525<\/p>\n

Major Resistance Level \u2013 $2,700<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price is consolidating above the $2,500 zone. ETH might gain bullish momentum if it clears the $2,700 resistance zone. Ethereum started a fresh decline below the $2,650 level. The price is trading below $2,680 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,690 on the […]<\/p>\n","protected":false},"author":0,"featured_media":43740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-43739","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\/43739"}],"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=43739"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/43739\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/43740"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}