{"id":9244,"date":"2024-09-25T03:28:26","date_gmt":"2024-09-25T03:28:26","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=9244"},"modified":"2024-09-25T03:28:26","modified_gmt":"2024-09-25T03:28:26","slug":"ethereum-price-poised-for-a-comeback-can-it-break-2700","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=9244","title":{"rendered":"Ethereum Price Poised for a Comeback: Can It Break $2,700?"},"content":{"rendered":"

Ethereum price is holding gains above the $2,650 resistance. ETH is now consolidating gains and might aim for more gains above $2,700.<\/em><\/p>\n

Ethereum is aiming for more upsides above the $2,700 resistance.
\nThe price is trading above $2,620 and the 100-hourly Simple Moving Average.
\nThere is a short-term contracting triangle forming with support at $2,620 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must stay above the $2,600 support to continue higher in the near term.<\/p>\n

Ethereum Price Eyes More Upsides<\/h2>\n

Ethereum price extended its increase and climbed toward the $2,700 level before the bears appeared. ETH started a downside correction from the $2,701 high like Bitcoin<\/a>.<\/p>\n

There was a drop below the $2,640 level. The price spiked below the 50% Fib retracement level of the upward wave from the $2,528 swing low to the $2,700 high. However, the bulls were active near the $2,600 support zone.<\/p>\n

The price tested the 61.8% Fib retracement level of the upward wave from the $2,528 swing low to the $2,700 high and is currently rising. Ethereum price is now trading above $2,620 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

There is also a short-term contracting triangle forming with support at $2,620 on the hourly chart of ETH\/USD. On the upside, the price seems to be facing hurdles near the $2,660 level. The first major resistance is near the $2,700 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 $2,850 level or $2,880.<\/p>\n

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

If Ethereum fails to clear the $2,680 resistance, it could start another decline. Initial support on the downside is near the $2,620 level and the triangle\u2019s trend line. The first major support sits near the $2,600 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 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 $2,600<\/p>\n

Major Resistance Level \u2013 $2,680<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price is holding gains above the $2,650 resistance. ETH is now consolidating gains and might aim for more gains above $2,700. Ethereum is aiming for more upsides above the $2,700 resistance. The price is trading above $2,620 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with support at $2,620 […]<\/p>\n","protected":false},"author":0,"featured_media":9245,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9244","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\/9244"}],"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=9244"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/9245"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}