{"id":495149,"date":"2022-07-08T05:08:35","date_gmt":"2022-07-08T05:08:35","guid":{"rendered":"https:\/\/wncen.com\/?p=495149"},"modified":"2024-06-11T14:21:24","modified_gmt":"2024-06-11T14:21:24","slug":"ethereum-rallies-8-pc-1300","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-rallies-8-pc-1300\/","title":{"rendered":"TA: Ethereum Rallies 8%, Why ETH Could Surge Above $1,300"},"content":{"rendered":"<p><em>Ethereum gained pace and cleared the $1,200 zone against the US Dollar. ETH is up 8% and might continue to climb higher towards $1,300 or $1,320.<\/em><\/p>\n<ul>\n<li>Ethereum extended gains and climbed above the $1,200 resistance zone.<\/li>\n<li>The price is now trading above $1,200 and the 100 hourly simple moving average.<\/li>\n<li>There is a crucial bullish trend line forming with support near $1,210 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could continue to rise if it stays above the key $1,200 support zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Gains Momentum<\/h2>\n<p>Ethereum <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-leg-higher-over-1200\/\" target=\"_blank\" rel=\"noopener \">remained well supported<\/a> above the $1,120 level. The price started a fresh increase and was able to clear a major hurdle near the $1,150 level.<\/p>\n<p>It opened the doors for a sharp increase above the $1,200 level. Ether price even broke the $1,250 level and traded to a new monthly high at $1,276. It is now trading above $1,200 and the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-another-lift-off-1200\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p>The price is testing the 23.6% Fib retracement level of the recent increase from the $1,162 swing low to $1,276 high. There is also a crucial bullish trend line forming with support near $1,210 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $1,275 level.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Ethereum-8.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-495150\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Ethereum-8.png?resize=1834%2C845\" alt=\"Ethereum Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Ethereum-8.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Ethereum-8.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Ethereum-8.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Ethereum-8.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Ethereum-8.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Ethereum-8.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Ethereum-8.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 next major resistance is near the $1,320 zone, above which the price may perhaps gain strength. In the stated case, the price could rise towards the $1,350 resistance. If the bulls remain in action, the price might climb towards the $1,420 zone.<\/p>\n<h2>Dips Limited in ETH?<\/h2>\n<p>If ethereum fails to rise above the $1,275 resistance, it could start a downside correction. An initial support on the downside is near the $1,230 zone. The next major support is near the $1,210 zone. It is close to the 50% Fib retracement level of the recent increase from the $1,162 swing low to $1,276 high.<\/p>\n<p>A downside break below the $1,210 support may perhaps send the price towards the 100 hourly simple moving average or $1,160. If the price fails to stay above the 100 hourly SMA, it could even slide towards the $1,120 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now well above the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,210<\/p>\n<p>Major Resistance Level \u2013 $1,275<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum gained pace and cleared the $1,200 zone against the US Dollar. ETH is up 8% and might continue to climb higher towards $1,300 or $1,320. Ethereum extended gains and climbed above the $1,200 resistance zone. The price is now trading above $1,200 and the 100 hourly simple moving average. There is a crucial bullish trend line forming with support near $1,210 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue to rise if it stays above the key $1,200 support zone. Ethereum Price Gains Momentum Ethereum remained well supported above the $1,120 level. The price started a fresh increase and was able to clear a major hurdle near the $1,150 level. It opened the doors for a sharp increase above the $1,200 level. Ether price even broke the $1,250 level and traded to a new monthly high at $1,276. It is now trading above $1,200 and the 100 hourly simple moving average. The price is testing the 23.6% Fib retracement level of the recent increase from the $1,162 swing low to $1,276 high. There is also a crucial bullish trend line forming with support near $1,210 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $1,275 level. Source: ETHUSD on TradingView.com The next major resistance is near the $1,320 zone, above which the price may perhaps gain strength. In the stated case, the price could rise towards the $1,350 resistance. If the bulls remain in action, the price might climb towards the $1,420 zone. Dips Limited in ETH? If ethereum fails to rise above the $1,275 resistance, it could start a downside correction. An initial support on the downside is near the $1,230 zone. The next major support is near the $1,210 zone. It is close to the 50% Fib retracement level of the recent increase from the $1,162 swing low to $1,276 high. A downside break below the $1,210 support may perhaps send the price towards the 100 hourly simple moving average or $1,160. If the price fails to stay above the 100 hourly SMA, it could even slide towards the $1,120 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now well above the 50 level. Major Support Level \u2013 $1,210 Major Resistance Level \u2013 $1,275<\/p>\n","protected":false},"author":67,"featured_media":462512,"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-495149","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 Rallies 8%, Why ETH Could Surge Above $1,300<\/title>\n<meta name=\"description\" content=\"Ethereum gained pace and cleared the $1,200 zone against the US Dollar. 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