{"id":478530,"date":"2021-12-09T05:28:12","date_gmt":"2021-12-09T05:28:12","guid":{"rendered":"https:\/\/wncen.com\/?p=478530"},"modified":"2024-06-11T14:09:41","modified_gmt":"2024-06-11T14:09:41","slug":"ethereum-breaking-this-confluence-resistance-could-spark-a-significant-surge","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-breaking-this-confluence-resistance-could-spark-a-significant-surge\/","title":{"rendered":"Ethereum Breaking This Confluence Resistance Could Spark a Significant Surge"},"content":{"rendered":"<p><em>Ethereum is still above the $4,250 support against the US Dollar. ETH price could stage a strong rally if it clears the $4,450 resistance zone in the near term.<\/em><\/p>\n<ul>\n<li>Ethereum is stable and supported above the $4,200 and $4,250 levels.<\/li>\n<li>The price is now trading above $4,300 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bullish trend line forming with support near $4,320 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a fresh rally if it clears the key $4,450 resistance zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Remains Supported<\/h2>\n<p>Ethereum consolidated in a range above $4,100 and $4,200 levels. ETH climbed above the $4,400 level, but it is still struggling to clear a <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-remains-supported-4250\/\" target=\"_blank\" rel=\"noopener \">confluence resistance<\/a> near $4,450.<\/p>\n<p>The recent high was formed near $4,456 and it is now consolidating gains. Ether is now trading above $4,300 and the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-liftoff-4250\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. There is also a key bullish trend line forming with support near $4,320 on the hourly chart of ETH\/USD.<\/p>\n<p>The price is trading nicely above the 23.6% Fib retracement level of the recent wave from the $3,900 swing low to $4,456 high. An initial resistance on the upside is near the $4,400 level.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Ethereum-6.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-478531\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Ethereum-6.png?resize=1834%2C848\" alt=\"Ethereum Price\" width=\"1834\" height=\"848\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Ethereum-6.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Ethereum-6.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Ethereum-6.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Ethereum-6.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Ethereum-6.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Ethereum-6.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Ethereum-6.png?w=1140 1140w\" sizes=\"(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 first major resistance is near the $4,420 level. The next major hurdle is near the $4,450 level. A clear break and close above the $4,450 level could stage a steady increase in the near term. In the stated case, the price could drift towards the $4,600 level in the near term.<\/p>\n<h2>Dips Limited in ETH?<\/h2>\n<p>If ethereum fails to start a fresh increase above the $4,450 level, it could extend its downside correction. An initial support on the downside is near the $4,325 level. The key support is now forming near the $4,320 level and the 100 hourly simple moving average.<\/p>\n<p>If there is a clear break below the $4,320 support, the price could extend losses. The next major breakdown support is $4,200 or the 50% Fib retracement level of the recent wave from the $3,900 swing low to $4,456 high, below which the price could decline towards $4,000.<\/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 near the 50 level.<\/p>\n<p>Major Support Level \u2013 $4,200<\/p>\n<p>Major Resistance Level \u2013 $4,450<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is still above the $4,250 support against the US Dollar. ETH price could stage a strong rally if it clears the $4,450 resistance zone in the near term. Ethereum is stable and supported above the $4,200 and $4,250 levels. The price is now trading above $4,300 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $4,320 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a fresh rally if it clears the key $4,450 resistance zone. Ethereum Price Remains Supported Ethereum consolidated in a range above $4,100 and $4,200 levels. ETH climbed above the $4,400 level, but it is still struggling to clear a confluence resistance near $4,450. The recent high was formed near $4,456 and it is now consolidating gains. Ether is now trading above $4,300 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $4,320 on the hourly chart of ETH\/USD. The price is trading nicely above the 23.6% Fib retracement level of the recent wave from the $3,900 swing low to $4,456 high. An initial resistance on the upside is near the $4,400 level. Source: ETHUSD on TradingView.com The first major resistance is near the $4,420 level. The next major hurdle is near the $4,450 level. A clear break and close above the $4,450 level could stage a steady increase in the near term. In the stated case, the price could drift towards the $4,600 level in the near term. Dips Limited in ETH? If ethereum fails to start a fresh increase above the $4,450 level, it could extend its downside correction. An initial support on the downside is near the $4,325 level. The key support is now forming near the $4,320 level and the 100 hourly simple moving average. If there is a clear break below the $4,320 support, the price could extend losses. The next major breakdown support is $4,200 or the 50% Fib retracement level of the recent wave from the $3,900 swing low to $4,456 high, below which the price could decline towards $4,000. 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 near the 50 level. Major Support Level \u2013 $4,200 Major Resistance Level \u2013 $4,450<\/p>\n","protected":false},"author":67,"featured_media":464347,"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-478530","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Breaking This Confluence Resistance Could Spark a Significant Surge<\/title>\n<meta name=\"description\" content=\"Ethereum is still above the $4,250 support against the US Dollar. 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