{"id":7967,"date":"2024-09-19T03:38:15","date_gmt":"2024-09-19T03:38:15","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=7967"},"modified":"2024-09-19T03:38:15","modified_gmt":"2024-09-19T03:38:15","slug":"ethereum-trails-bitcoin-but-bullish-momentum-gains-strength","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=7967","title":{"rendered":"Ethereum Trails Bitcoin, But Bullish Momentum Gains Strength"},"content":{"rendered":"

Ethereum price started a fresh upward move above the $2,335 resistance. ETH is now aiming for more upsides above the $2,420 resistance.<\/em><\/p>\n

Ethereum started another increase from the $2,280 resistance.
\nThe price is trading above $2,350 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $2,310 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must clear the $2,420 resistance to continue higher in the near term.<\/p>\n

Ethereum Price Aims Higher<\/h2>\n

Ethereum price formed a base near $2,280 and started a fresh increase like Bitcoin<\/a>. ETH was able to clear the $2,320 and $2,350 resistance levels.<\/p>\n

BTC gained over 5% but ETH struggled to match the strength. It cleared the 76.4% Fib retracement level of the downward wave from the $2,392 swing high to the $2,277 low. It even traded above the $2,392 high and is now showing positive signs.<\/p>\n

Ethereum price is now trading above $2,350 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support at $2,310 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price seems to be facing hurdles near the $2,420 level. It is close to the 1.236 Fib extension level of the downward wave from the $2,392 swing high to the $2,277 low. The first major resistance is near the $2,450 level. The next key resistance is near $2,550.<\/p>\n

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

An upside break above the $2,550 resistance might call for more gains. In the stated case, Ether could rise toward the $2,650 resistance zone in the near term. The next hurdle sits near the $2,720 level or $2,750.<\/p>\n

Are Dips Supported In ETH?<\/h2>\n

If Ethereum fails to clear the $2,420 resistance, it could start another decline in the near term. Initial support on the downside is near $2,365. The first major support sits near the $2,310 zone and the trend line zone.<\/p>\n

A clear move below the $2,310 support might push the price toward $2,280. Any more losses might send the price toward the $2,220 support level in the near term. The next key support sits at $2,150.<\/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 $2,310<\/p>\n

Major Resistance Level \u2013 $2,420<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a fresh upward move above the $2,335 resistance. ETH is now aiming for more upsides above the $2,420 resistance. Ethereum started another increase from the $2,280 resistance. The price is trading above $2,350 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,310 on […]<\/p>\n","protected":false},"author":0,"featured_media":7956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7967","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\/7967"}],"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=7967"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7967\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/7956"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}