{"id":934,"date":"2024-08-26T04:48:56","date_gmt":"2024-08-26T04:48:56","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=934"},"modified":"2024-08-26T04:48:56","modified_gmt":"2024-08-26T04:48:56","slug":"ethereum-price-eyes-fresh-gains-another-increase-on-the-horizon","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=934","title":{"rendered":"Ethereum Price Eyes Fresh Gains: Another Increase on the Horizon?"},"content":{"rendered":"

Ethereum price is consolidating above the $2,700 resistance. ETH could gain bullish momentum if it clears the $2,785 resistance zone.<\/em><\/p>\n

Ethereum is struggling to gain pace for a move above the $2,800 level.
\nThe price is trading above $2,700 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $2,720 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bullish momentum if there is a close above $2,780.<\/p>\n

Ethereum Price Starts Consolidation<\/h2>\n

Ethereum price remained stable<\/a> above the $2,650 level. ETH formed a base and started a steady upward move above the $2,720 level. There was a move toward the $2,820 level.<\/p>\n

A high was formed at $2,820 and the price is now correcting gains like Bitcoin<\/a>. There was a minor pullback below the $2,780 level. The price declined below the 23.6% Fib retracement level of the upward move from the $2,536 swing low to the $2,820 high.<\/p>\n

Ethereum price is now trading above $2,720 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2,720 on the hourly chart of ETH\/USD.<\/p>\n

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

If there is another increase, the price might face hurdles near the $2,780 level. The first major resistance is near the $2,820 level. A close above the $2,820 level might send Ether toward the $2,880 resistance. The next key resistance is near $2,950. An upside break above the $2,950 resistance might send the price higher toward the $3,000 resistance zone in the near term.<\/p>\n

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

If Ethereum fails to clear the $2,780 resistance, it could start another decline. Initial support on the downside is near $2,720 and the trend line. The first major support sits near the $2,675 zone or the 50% Fib retracement level of the upward move from the $2,536 swing low to the $2,820 high.<\/p>\n

A clear move below the $2,675 support might push the price toward $2,620 where the bulls could emerge. Any more losses might send the price toward the $2,550 support level in the near term. The next key support sits at $2,500.<\/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 $2,720<\/p>\n

Major Resistance Level \u2013 $2,780<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price is consolidating above the $2,700 resistance. ETH could gain bullish momentum if it clears the $2,785 resistance zone. Ethereum is struggling to gain pace for a move above the $2,800 level. The price is trading above $2,700 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support […]<\/p>\n","protected":false},"author":0,"featured_media":935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-934","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\/934"}],"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=934"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/934\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/935"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}