{"id":7608,"date":"2024-09-18T03:38:53","date_gmt":"2024-09-18T03:38:53","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=7608"},"modified":"2024-09-18T03:38:53","modified_gmt":"2024-09-18T03:38:53","slug":"ethereum-price-comeback-in-jeopardy-is-a-pullback-coming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=7608","title":{"rendered":"Ethereum Price Comeback in Jeopardy: Is a Pullback Coming?"},"content":{"rendered":"

Ethereum price started a recovery wave above the $2,320 resistance. ETH is now struggling to gain pace for a move above the $2,385 resistance.<\/em><\/p>\n

Ethereum started another decline from the $2,385 resistance.
\nThe price is trading below $2,350 and the 100-hourly Simple Moving Average.
\nThere was a break above a short-term declining channel with resistance at $2,290 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must clear the $2,350 resistance to continue higher in the near term.<\/p>\n

Ethereum Price Attempts Recovery<\/h2>\n

Ethereum price formed a base near $2,250 and started a fresh increase like Bitcoin<\/a>. ETH was able to clear the $2,300 and $2,320 resistance levels.<\/p>\n

There was a break above a short-term declining channel<\/a> with resistance at $2,290 on the hourly chart of ETH\/USD. The pair was able to climb above the 50% Fib retracement level of the downward wave from the $2,465 swing high to the $2,252 low.<\/p>\n

The price even spiked above $2,260 before the bears appeared. There was a rejection near the 61.8% Fib retracement level of the downward wave from the $2,465 swing high to the $2,252 low.<\/p>\n

Ethereum price is now trading below $2,350 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,340 level. The first major resistance is near the $2,385 level. The next key resistance is near $2,420.<\/p>\n

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

An upside break above the $2,420 resistance might call for more gains. In the stated case, Ether could rise toward the $2,450 resistance zone in the near term. The next hurdle sits near the $2,550 level.<\/p>\n

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

If Ethereum fails to clear the $2,340 resistance, it could start another decline in the near term. Initial support on the downside is near $2,300. The first major support sits near the $2,250 zone.<\/p>\n

A clear move below the $2,250 support might push the price toward $2,180. Any more losses might send the price toward the $2,120 support level in the near term. The next key support sits at $2,050.<\/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 $2,300<\/p>\n

Major Resistance Level \u2013 $2,385<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a recovery wave above the $2,320 resistance. ETH is now struggling to gain pace for a move above the $2,385 resistance. Ethereum started another decline from the $2,385 resistance. The price is trading below $2,350 and the 100-hourly Simple Moving Average. There was a break above a short-term declining channel with resistance […]<\/p>\n","protected":false},"author":0,"featured_media":7609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7608","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\/7608"}],"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=7608"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7608\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/7609"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}