{"id":8721,"date":"2024-09-23T03:28:43","date_gmt":"2024-09-23T03:28:43","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=8721"},"modified":"2024-09-23T03:28:43","modified_gmt":"2024-09-23T03:28:43","slug":"ethereum-price-breaks-2600-is-more-upside-ahead","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=8721","title":{"rendered":"Ethereum Price Breaks $2,600: Is More Upside Ahead?"},"content":{"rendered":"

Ethereum price started a fresh upward move above the $2,500 resistance. ETH is now gaining pace above $2,600 and might continue to rise.<\/em><\/p>\n

Ethereum started another increase from the $2,400 resistance.
\nThe price is trading above $2,550 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $2,550 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must clear the $2,650 resistance to continue higher in the near term.<\/p>\n

Ethereum Price Climbs Over 5%<\/h2>\n

Ethereum price remained well-supported and extended its increase, beating Bitcoin<\/a>. ETH was able to clear the $2,450 and $2,500 resistance levels. The bulls even pushed the price above the $2,500 resistance.<\/p>\n

Recently, it was able to surpass the 76.4% Fib retracement level of the downward correction from the $2,633 swing high to the $2,528 low. The price is now showing positive signs and trading above the recent swing high of $2,633.<\/p>\n

Ethereum price is now trading above $2,635 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support at $2,550 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price seems to be facing hurdles near the $2,650 level or the 1.236 Fib extension level of the downward correction from the $2,633 swing high to the $2,528 low. The first major resistance is near the $2,680 level. The next key resistance is near $2,720.<\/p>\n

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

An upside break above the $2,720 resistance might call for more gains. In the stated case, Ether could rise toward the $2,800 resistance zone in the near term. The next hurdle sits near the $2,880 level or $2,920.<\/p>\n

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

If Ethereum fails to clear the $2,650 resistance, it could start a downside correction. Initial support on the downside is near $2,590. The first major support sits near the $2,550 zone and the trend line zone.<\/p>\n

A clear move below the $2,550 support might push the price toward $2,525. Any more losses might send the price toward the $2,450 support level in the near term. The next key support sits at $2,320.<\/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 $2,525<\/p>\n

Major Resistance Level \u2013 $2,650<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a fresh upward move above the $2,500 resistance. ETH is now gaining pace above $2,600 and might continue to rise. Ethereum started another increase from the $2,400 resistance. The price is trading above $2,550 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,550 […]<\/p>\n","protected":false},"author":0,"featured_media":8722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8721","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\/8721"}],"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=8721"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/8721\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/8722"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}