{"id":46463,"date":"2025-02-21T03:28:37","date_gmt":"2025-02-21T03:28:37","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=46463"},"modified":"2025-02-21T03:28:37","modified_gmt":"2025-02-21T03:28:37","slug":"ethereum-price-consolidation-in-progress-uptrend-resuming-soon","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=46463","title":{"rendered":"Ethereum Price Consolidation In Progress\u2014Uptrend Resuming Soon?"},"content":{"rendered":"

Ethereum price is showing positive signs above the $2,680 zone. ETH is gaining pace and an upside break above $2,755 could trigger bullish moves. <\/em><\/p>\n

Ethereum is still showing positive signs above the $2,650 zone.
\nThe price is trading above $2,720 and the 100-hourly Simple Moving Average.
\nThere is following a key rising channel with support at $2,725 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent upward move if it settles above $2,755 and $2,800.<\/p>\n

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

Ethereum price remained supported above the $2,550 level and recently started a decent upward move, but it underperformed Bitcoin<\/a>. ETH gained pace above the $2,650 and $2,660 resistance levels.<\/p>\n

The price even cleared the 50% Fib retracement level of the downward wave from the $2,845 swing high to the $2,604 low. There was also a move above the $2,720 resistance level. Besides, the price is following a key rising channel with support at $2,725 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum price is now trading above $2,720 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price seems to be facing hurdles near the $2,755 level. It is close to the 61.8% Fib retracement level of the downward wave from the $2,845 swing high to the $2,604 low.<\/p>\n

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

The first major resistance is near the $2,790 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 $2,880 resistance. An upside break above the $2,880 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,920 resistance zone or even $3,000 in the near term.<\/p>\n

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

If Ethereum fails to clear the $2,755 resistance, it could start another decline. Initial support on the downside is near the $2,720 level. The first major support sits near the $2,665 zone.<\/p>\n

A clear move below the $2,665 support might push the price toward the $2,620 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 $2,720<\/p>\n

Major Resistance Level \u2013 $2,755<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price is showing positive signs above the $2,680 zone. ETH is gaining pace and an upside break above $2,755 could trigger bullish moves. Ethereum is still showing positive signs above the $2,650 zone. The price is trading above $2,720 and the 100-hourly Simple Moving Average. There is following a key rising channel with support […]<\/p>\n","protected":false},"author":0,"featured_media":46464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-46463","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\/46463"}],"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=46463"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/46463\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/46464"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}