{"id":8978,"date":"2024-09-24T03:28:27","date_gmt":"2024-09-24T03:28:27","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=8978"},"modified":"2024-09-24T03:28:27","modified_gmt":"2024-09-24T03:28:27","slug":"ethereum-price-pullback-another-chance-for-buyers-to-load-eth","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=8978","title":{"rendered":"Ethereum Price Pullback: Another Chance for Buyers To Load ETH?"},"content":{"rendered":"

Ethereum price extended its increase above the $2,650 resistance. ETH is now correcting gains and might find bids near the $2,600 support.<\/em><\/p>\n

Ethereum is currently correcting gains from the $2,700 resistance.
\nThe price is trading above $2,600 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $2,600 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must stay above the $2,550 support to continue higher in the near term.<\/p>\n

Ethereum Price Holds Support<\/h2>\n

Ethereum price remained well-supported and extended its increase, beating Bitcoin<\/a>. ETH was able to clear the $2,550 and $2,650 resistance levels. The bulls even pushed the price above the $2,680 resistance.<\/p>\n

It tested the $2,700 zone. A high was formed at $2,701 and the price is now correcting gains. There was a drop below the $2,650 level. The price declined below the 23.6% Fib retracement level of the upward move from the $2,528 swing low to the $2,701 high.<\/p>\n

Ethereum price is now trading above $2,600 and the 100-hourly Simple Moving Average<\/a>. There is also a key bullish trend line forming with support at $2,600 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the upward move from the $2,528 swing low to the $2,701 high.<\/p>\n

On the upside, the price seems to be facing hurdles near the $2,650 level. The first major resistance is near the $2,680 level. The next key resistance is near $2,700.<\/p>\n

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

An upside break above the $2,700 resistance might call for more gains. In the stated case, Ether could rise toward the $2,780 resistance zone in the near term. The next hurdle sits near the $2,840 level or $2,880.<\/p>\n

More Losses In ETH?<\/h2>\n

If Ethereum fails to clear the $2,650 resistance, it could continue to move down. Initial support on the downside is near $2,615. The first major support sits near the $2,600 zone and the trend line zone.<\/p>\n

A clear move below the $2,600 support might push the price toward $2,550. Any more losses might send the price toward the $2,525 support level in the near term. The next key support sits at $2,450.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\n

Major Support Level \u2013 $2,600<\/p>\n

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

Ethereum price extended its increase above the $2,650 resistance. ETH is now correcting gains and might find bids near the $2,600 support. Ethereum is currently correcting gains from the $2,700 resistance. The price is trading above $2,600 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,600 […]<\/p>\n","protected":false},"author":0,"featured_media":8979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8978","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\/8978"}],"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=8978"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/8978\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/8979"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}