{"id":563353,"date":"2023-12-01T03:04:13","date_gmt":"2023-12-01T03:04:13","guid":{"rendered":"https:\/\/wncen.com\/?p=563353"},"modified":"2024-06-11T14:42:40","modified_gmt":"2024-06-11T14:42:40","slug":"ethereum-price-momentum-reignites-2200","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-momentum-reignites-2200\/","title":{"rendered":"Ethereum Price Momentum Reignites, RSI Signals Rally To $2,200"},"content":{"rendered":"<p><em>Ethereum price remained well-bid above the $2,020 level. ETH is now rising, and the bulls seem to be aiming for a move toward the $2,200 level.<\/em><\/p>\n<ul>\n<li>Ethereum is making a fresh attempt to clear the $2,100 and $2,120 resistance levels.<\/li>\n<li>The price is trading above $2,050 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break above a major contracting triangle with resistance near $2,055 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could gain bullish momentum if it clears the $2,120 resistance zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Regains Strength<\/h2>\n<p>Ethereum price started a downside correction below the $2,050 level. ETH tested the $2,020 support, where the bulls took a stand. A low was formed near $2,019 before the price climbed higher, like <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-sprint-to-40000\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>.<\/p>\n<p>The price cleared the $2,050 resistance zone. There was a break above a major contracting triangle with resistance near $2,055 on the hourly chart of ETH\/USD. The pair climbed above the 50% Fib retracement level of the downward move from the $2,126 swing high to the $1,986 low.<\/p>\n<p>Ethereum is now trading above $2,050 and the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-rally-jeopardy-2075\/\" target=\"_blank\" rel=\"noopener \">100-hourly Simple Moving Average<\/a>. On the upside, the price is facing resistance near the $2,095 zone or the 76.4% Fib retracement level of the downward move from the $2,126 swing high to the $1,986 low.<\/p>\n<p>The first key resistance is near the $2,100 level. The next resistance sits at $2,120. A clear move above the $2,120 level could send the price toward the $2,200 resistance zone.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Ethereum.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-563354\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Ethereum.png?resize=1024%2C468\" alt=\"Ethereum Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Ethereum.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Ethereum.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Ethereum.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Ethereum.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Ethereum.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Ethereum.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Ethereum.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/p>\n<p>The next resistance is near $2,250, above which the price could aim for a move toward the $2,320 level. Any more gains could start a wave toward the $2,440 level.<\/p>\n<h2>Another Decline in ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,100 resistance, it could start another decline. Initial support on the downside is near the $2,055 level. The next key support is $2,040.<\/p>\n<p>The main support is now near $2,000. A downside break below $2,000 might start a steady decline. The key support is now at $1,920, below which there is a risk of a move toward the $1,880 level in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n<p>Major Support Level \u2013 $2,050<\/p>\n<p>Major Resistance Level \u2013 $2,120<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price remained well-bid above the $2,020 level. ETH is now rising, and the bulls seem to be aiming for a move toward the $2,200 level. Ethereum is making a fresh attempt to clear the $2,100 and $2,120 resistance levels. The price is trading above $2,050 and the 100-hourly Simple Moving Average. There was a break above a major contracting triangle with resistance near $2,055 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could gain bullish momentum if it clears the $2,120 resistance zone. Ethereum Price Regains Strength Ethereum price started a downside correction below the $2,050 level. ETH tested the $2,020 support, where the bulls took a stand. A low was formed near $2,019 before the price climbed higher, like Bitcoin. The price cleared the $2,050 resistance zone. There was a break above a major contracting triangle with resistance near $2,055 on the hourly chart of ETH\/USD. The pair climbed above the 50% Fib retracement level of the downward move from the $2,126 swing high to the $1,986 low. Ethereum is now trading above $2,050 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,095 zone or the 76.4% Fib retracement level of the downward move from the $2,126 swing high to the $1,986 low. The first key resistance is near the $2,100 level. The next resistance sits at $2,120. A clear move above the $2,120 level could send the price toward the $2,200 resistance zone. Source: ETHUSD on TradingView.com The next resistance is near $2,250, above which the price could aim for a move toward the $2,320 level. Any more gains could start a wave toward the $2,440 level. Another Decline in ETH? If Ethereum fails to clear the $2,100 resistance, it could start another decline. Initial support on the downside is near the $2,055 level. The next key support is $2,040. The main support is now near $2,000. A downside break below $2,000 might start a steady decline. The key support is now at $1,920, below which there is a risk of a move toward the $1,880 level in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $2,050 Major Resistance Level \u2013 $2,120<\/p>\n","protected":false},"author":67,"featured_media":551696,"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":[65296,1946,8686,78803],"class_list":["post-563353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Momentum Reignites, RSI Signals Rally To $2,200<\/title>\n<meta name=\"description\" content=\"Ethereum price remained well-bid above the $2,020 level. 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