{"id":6158,"date":"2024-09-13T03:28:24","date_gmt":"2024-09-13T03:28:24","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=6158"},"modified":"2024-09-13T03:28:24","modified_gmt":"2024-09-13T03:28:24","slug":"ethereum-price-consolidates-is-a-breakout-to-2500-on-the-horizon","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=6158","title":{"rendered":"Ethereum Price Consolidates: Is a Breakout to $2,500 on the Horizon?"},"content":{"rendered":"

Ethereum price is holding gains above the $2,300 level. ETH could gain bullish momentum if it clears the $2,380 resistance zone.<\/em><\/p>\n

Ethereum is showing positive signs but facing hurdles near $2,400.
\nThe price is trading above $2,320 and the 100-hourly Simple Moving Average.
\nThere is a key contracting triangle forming with resistance at $2,365 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must clear the $2,400 resistance to continue higher in the near term.<\/p>\n

Ethereum Price Aims $2,500<\/h2>\n

Ethereum price seems to be forming a base above the $2,250 level like Bitcoin<\/a>. Recently, there was a decent increase above the $2,350 level but the price struggled near $2,400.<\/p>\n

A high was formed at $2,390 and the price is now consolidating<\/a>. There was a minor decline below the $2,350 level. The price dipped below the 50% Fib retracement level of the upward wave from the $2,278 swing low to the $2,390 high.<\/p>\n

However, the bulls were active near the $2,320 level and the 61.8% Fib retracement level of the upward wave from the $2,278 swing low to the $2,390 high.<\/p>\n

Ethereum price is now trading above $2,320 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,365 level. There is also a key contracting triangle forming with resistance at $2,365 on the hourly chart of ETH\/USD.<\/p>\n

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

The first major resistance is near the $2,380 and $2,400 levels. A close above the $2,400 level might send Ether toward the $2,465 resistance. The next key resistance is near $2,550. An upside break above the $2,550 resistance might call for more gains toward the $2,650 resistance zone in the near term.<\/p>\n

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

If Ethereum fails to clear the $2,400 resistance, it could start another decline in the near term. Initial support on the downside is near $2,320. The first major support sits near the $2,300 zone.<\/p>\n

A clear move below the $2,300 support might push the price toward $2,250. Any more losses might send the price toward the $2,200 support level in the near term. The next key support sits at $2,120.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing 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 $2,320<\/p>\n

Major Resistance Level \u2013 $2,400<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price is holding gains above the $2,300 level. ETH could gain bullish momentum if it clears the $2,380 resistance zone. Ethereum is showing positive signs but facing hurdles near $2,400. The price is trading above $2,320 and the 100-hourly Simple Moving Average. There is a key contracting triangle forming with resistance at $2,365 on […]<\/p>\n","protected":false},"author":0,"featured_media":6159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6158","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\/6158"}],"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=6158"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/6158\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/6159"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}