{"id":4729,"date":"2024-09-09T03:18:47","date_gmt":"2024-09-09T03:18:47","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=4729"},"modified":"2024-09-09T03:18:47","modified_gmt":"2024-09-09T03:18:47","slug":"ethereum-price-recovery-may-stall-near-100-sma-is-a-drop-coming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=4729","title":{"rendered":"Ethereum Price Recovery May Stall Near 100-SMA: Is a Drop Coming?"},"content":{"rendered":"

Ethereum price is attempting a recovery wave above $2,280. ETH must clear the $2,360 resistance to continue higher in the near term.<\/em><\/p>\n

Ethereum is attempting a recovery wave from the $2,150 zone.
\nThe price is trading below $2,320 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance at $2,280 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must clear the $2,360 resistance to continue higher in the near term.<\/p>\n

Ethereum Price Faces Resistance<\/h2>\n

Ethereum price attempted a recovery wave above the $2,400 level. However, ETH failed to clear the $2,450 resistance zone. There was a fresh decline below $2,320 like Bitcoin<\/a>.<\/p>\n

It tested the $2,150 support zone. A low was formed at $2,150 and the price is now attempting a recovery wave<\/a>. There was a move above the $2,220 and $2,280 resistance levels. The price climbed above the 23.6% Fib retracement level of the downward wave from the $2,488 swing high to the $2,150 low.<\/p>\n

There was a break above a key bearish trend line with resistance at $2,280 on the hourly chart of ETH\/USD. Ethereum price is now trading below $2,320 and the 100-hourly Simple Moving Average.<\/p>\n

On the upside, the price seems to be facing hurdles near the $2,320 level. The first major resistance is near the $2,360 level or the 61.8% Fib retracement level of the downward wave from the $2,488 swing high to the $2,150 low. A close above the $2,360 level might send Ether toward the $2,420 resistance.<\/p>\n

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

The next key resistance is near $2,480. An upside break above the $2,480 resistance might send the price higher toward the $2,550 resistance zone in the near term.<\/p>\n

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

If Ethereum fails to clear the $2,360 resistance, it could start another decline. Initial support on the downside is near $2,250. The first major support sits near the $2,180 zone.<\/p>\n

A clear move below the $2,180 support might push the price toward $2,150. Any more losses might send the price toward the $2,050 support level in the near term. The next key support sits at $2,000.<\/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 above the 50 zone.<\/p>\n

Major Support Level \u2013 $2,180<\/p>\n

Major Resistance Level \u2013 $2,360<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price is attempting a recovery wave above $2,280. ETH must clear the $2,360 resistance to continue higher in the near term. Ethereum is attempting a recovery wave from the $2,150 zone. The price is trading below $2,320 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with […]<\/p>\n","protected":false},"author":0,"featured_media":4730,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4729","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\/4729"}],"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=4729"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/4729\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/4730"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}