{"id":9808,"date":"2024-09-27T03:28:51","date_gmt":"2024-09-27T03:28:51","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=9808"},"modified":"2024-09-27T03:28:51","modified_gmt":"2024-09-27T03:28:51","slug":"ethereum-price-eyes-bitcoins-lead-can-it-climb-to-a-new-weekly-high","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=9808","title":{"rendered":"Ethereum Price Eyes Bitcoin\u2019s Lead: Can It Climb to a New Weekly High?"},"content":{"rendered":"

Ethereum price is eyeing a fresh increase like Bitcoin. ETH must surpass $2,665 to continue higher and trade to a new high in the near term.<\/em><\/p>\n

Ethereum is aiming for a fresh increase above the $2,665 level.
\nThe price is trading above $2,620 and the 100-hourly Simple Moving Average.
\nThere was a break above a connecting bearish trend line with resistance at $2,625 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must stay above the $2,600 support to start a fresh increase in the near term.<\/p>\n

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

Ethereum price found support near the $2,550 level and started a fresh increase like Bitcoin<\/a>. ETH was able to clear the $2,600 resistance level, but upsides were less compared to BTC.<\/p>\n

The price climbed above the 50% Fib retracement level of the downward move from the $2,700 swing high to the $2,554 low. Besides, there was a break above a connecting bearish trend line with resistance at $2,625 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum price is now trading above $2,620 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price seems to be facing hurdles near the $2,665 level. It is near the 76.4% Fib retracement level of the downward move from the $2,700 swing high to the $2,554 low.<\/p>\n

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

The first major resistance is near the $2,700 level. The next key resistance is near $2,720. An upside break above the $2,720 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,780 resistance zone in the near term. The next hurdle sits near the $2,850 level or $2,880.<\/p>\n

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

If Ethereum fails to clear the $2,665 resistance, it could start another decline. Initial support on the downside is near the $2,600 level and the 100-hourly Simple Moving Average. The first major support sits near the $2,550 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 $2,480 support level in the near term. The next key support sits at $2,440.<\/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 below the 50 zone.<\/p>\n

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

Major Resistance Level \u2013 $2,665<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price is eyeing a fresh increase like Bitcoin. ETH must surpass $2,665 to continue higher and trade to a new high in the near term. Ethereum is aiming for a fresh increase above the $2,665 level. The price is trading above $2,620 and the 100-hourly Simple Moving Average. There was a break above a […]<\/p>\n","protected":false},"author":0,"featured_media":9809,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9808","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\/9808"}],"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=9808"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9808\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/9809"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}