{"id":8261,"date":"2024-09-20T03:28:02","date_gmt":"2024-09-20T03:28:02","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=8261"},"modified":"2024-09-20T03:28:02","modified_gmt":"2024-09-20T03:28:02","slug":"ethereum-price-reaches-2500-again-will-the-uptrend-hold","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=8261","title":{"rendered":"Ethereum Price Reaches $2,500 Again: Will The Uptrend Hold?"},"content":{"rendered":"

Ethereum price started a fresh upward move above the $2,420 resistance. ETH traded close to $2,500 and is now consolidating gains.<\/em><\/p>\n

Ethereum started another increase from the $2,320 resistance.
\nThe price is trading above $2,400 and the 100-hourly Simple Moving Average.
\nThere is a connecting bullish trend line forming with support at $2,385 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must clear the $2,480 resistance to continue higher in the near term.<\/p>\n

Ethereum Price Surges Over 8%<\/h2>\n

Ethereum price remained well-supported<\/a> and extended its increase, beating Bitcoin<\/a>. ETH was able to clear the $2,350 and $2,420 resistance levels.<\/p>\n

There was a sharp move, and the price gained nearly 10%. It traded close to the $2,500 resistance zone. A high was formed at $2,493 and the price is now consolidating gains. There was a minor decline below the $2,460 level. The price tested the 23.6% Fib retracement level of the upward move from the $2,277 swing low to the $2,493 high.<\/p>\n

Ethereum price is now trading above $2,440 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $2,385 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the upward move from the $2,277 swing low to the $2,493 high.<\/p>\n

On the upside, the price seems to be facing hurdles near the $2,480 level. The first major resistance is near the $2,500 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 $2,750 level or $2,800.<\/p>\n

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

If Ethereum fails to clear the $2,480 resistance, it could start a downside correction. Initial support on the downside is near $2,440. The first major support sits near the $2,385 zone and the trend line zone.<\/p>\n

A clear move below the $2,385 support might push the price toward $2,320. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,200.<\/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 $2,385<\/p>\n

Major Resistance Level \u2013 $2,500<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a fresh upward move above the $2,420 resistance. ETH traded close to $2,500 and is now consolidating gains. Ethereum started another increase from the $2,320 resistance. The price is trading above $2,400 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $2,385 on the […]<\/p>\n","protected":false},"author":0,"featured_media":8262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8261","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\/8261"}],"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=8261"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/8261\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/8262"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}