{"id":453831,"date":"2021-01-06T05:28:52","date_gmt":"2021-01-06T05:28:52","guid":{"rendered":"https:\/\/wncen.com\/?p=453831"},"modified":"2024-06-11T14:12:32","modified_gmt":"2024-06-11T14:12:32","slug":"ethereum-eth-could-surge-above-1200","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-eth-could-surge-above-1200\/","title":{"rendered":"TA: Ethereum Prints Bullish Break: Why ETH Could Surge Above $1,200"},"content":{"rendered":"<p><em>Ethereum started a fresh increase above $1,050 against the US Dollar. ETH price is showing positive signs and it is likely to continue higher towards the $1,200 and $1,250 levels.<\/em><\/p>\n<ul>\n<li>Ethereum started a fresh upward move above the $1,020 and $1,050 resistance.<\/li>\n<li>The price is now trading well above $1,100 and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a major bearish trend line with resistance near $1,110 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is likely to continue higher if it settles above the $1,135 and $1,150 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Eyes Fresh All-Time High<\/h2>\n<p>After a downside correction, Ethereum formed a support base near $980 and $1,000. As a result, <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-struggles-near-1100\/\" target=\"_blank\" rel=\"noopener \">ETH started a fresh increase<\/a> and broke the $1,020 and $1,050 resistance levels.<\/p>\n<p>The price gained pace and climbed nicely above the $1,100 level. There was a break above the 76.4% Fib retracement level of the downward move from the $1,135 high to $974 swing low. More importantly, there was a break above a major bearish trend line with resistance near $1,110 on the hourly chart of ETH\/USD.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/Ethereum-2.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1828\" height=\"868\" class=\"alignnone size-full wp-image-453832\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/Ethereum-2.png?resize=1828%2C868\" alt=\"Ethereum Price\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/Ethereum-2.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/Ethereum-2.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/Ethereum-2.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/Ethereum-2.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/Ethereum-2.png?w=130 130w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/Ethereum-2.png?w=104 104w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/Ethereum-2.png?w=83 83w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/Ethereum-2.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/Ethereum-2.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/Ethereum-2.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/pre>\n<p>The price is now trading well above $1,100 and the 100 hourly simple moving average. A successful close above the $1,120 and $1,135 resistance levels could accelerate gains in the near term.<\/p>\n<p>The next stop for the bulls could be near the $1,175 zone. It is close to the 1.236 Fib extension level of the downward move from the $1,135 high to $974 swing low. Any more gains could <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-skyrockets-to-1000-eth-1200-next\/\" target=\"_blank\" rel=\"noopener \">open the doors for push towards the $1,220 and $1,250 levels<\/a> in the near term.<\/p>\n<h2>Dips Supported in ETH?<\/h2>\n<p>If ethereum fails to clear the $1,130 and $1,150 resistance levels, it could start a short-term downside correction. An initial support on the downside is near the broken triangle trend line at $1,110.<\/p>\n<p>A downside break below the trend line support might lead ether price towards the $1,080 support zone. Any more losses may possibly call for an extended decline below the $1,050 level. The next major support is near the triangle lower trend line at $1,040.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is currently well above the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,050<\/p>\n<p>Major Resistance Level \u2013 $1,135<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum started a fresh increase above $1,050 against the US Dollar. ETH price is showing positive signs and it is likely to continue higher towards the $1,200 and $1,250 levels. Ethereum started a fresh upward move above the $1,020 and $1,050 resistance. The price is now trading well above $1,100 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,110 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to continue higher if it settles above the $1,135 and $1,150 resistance levels. Ethereum Price Eyes Fresh All-Time High After a downside correction, Ethereum formed a support base near $980 and $1,000. As a result, ETH started a fresh increase and broke the $1,020 and $1,050 resistance levels. The price gained pace and climbed nicely above the $1,100 level. There was a break above the 76.4% Fib retracement level of the downward move from the $1,135 high to $974 swing low. More importantly, there was a break above a major bearish trend line with resistance near $1,110 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com The price is now trading well above $1,100 and the 100 hourly simple moving average. A successful close above the $1,120 and $1,135 resistance levels could accelerate gains in the near term. The next stop for the bulls could be near the $1,175 zone. It is close to the 1.236 Fib extension level of the downward move from the $1,135 high to $974 swing low. Any more gains could open the doors for push towards the $1,220 and $1,250 levels in the near term. Dips Supported in ETH? If ethereum fails to clear the $1,130 and $1,150 resistance levels, it could start a short-term downside correction. An initial support on the downside is near the broken triangle trend line at $1,110. A downside break below the trend line support might lead ether price towards the $1,080 support zone. Any more losses may possibly call for an extended decline below the $1,050 level. The next major support is near the triangle lower trend line at $1,040. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining pace in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is currently well above the 50 level. Major Support Level \u2013 $1,050 Major Resistance Level \u2013 $1,135<\/p>\n","protected":false},"author":67,"featured_media":453833,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1946,8686,78803],"class_list":["post-453831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>TA: Ethereum Prints Bullish Break: Why ETH Could Surge Above $1,200<\/title>\n<meta name=\"description\" content=\"Ethereum started a fresh increase above $1,050. 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Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. 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