{"id":567552,"date":"2024-01-01T03:19:50","date_gmt":"2024-01-01T03:19:50","guid":{"rendered":"https:\/\/wncen.com\/?p=567552"},"modified":"2024-06-11T14:43:53","modified_gmt":"2024-06-11T14:43:53","slug":"ethereum-price-could-start-2024-bang","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-could-start-2024-bang\/","title":{"rendered":"Ethereum Price Could Start 2024 With A Strong Increase If It Holds This Support"},"content":{"rendered":"<p><em>Ethereum price is correcting gains below the $2,350 zone. ETH could attempt a fresh increase unless there is a close below the $2,200 support.<\/em><\/p>\n<ul>\n<li>Ethereum is correcting gains and trading below the $2,350 level.<\/li>\n<li>The price is trading below $2,320 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $2,300 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a fresh increase if there is a close above the $2,350 level.<\/li>\n<\/ul>\n<h2>Ethereum Price Eyes Fresh Increase<\/h2>\n<p>Ethereum price struggled to clear the $2,440 resistance zone and started a fresh decline. ETH declined below the $2,350 support zone to move into a short-term bearish zone, like <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-starts-2024-range\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>.<\/p>\n<p>There was a close below the $2,320 level. A low was formed near $2,258 and the price is now consolidating losses. Ethereum is now trading below $2,320 and the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-retreats-2440\/\" target=\"_blank\" rel=\"noopener \">100-hourly Simple Moving Average<\/a>. There is also a key bearish trend line forming with resistance near $2,300 on the hourly chart of ETH\/USD.<\/p>\n<p>On the upside, the price is facing resistance near the $2,300 level and the trend line. It is close to the 23.6% Fib retracement level of the downward move from the $2,445 swing high to the $2,258 low.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Ethereum.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-567553\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Ethereum.png?resize=1024%2C449\" alt=\"Ethereum Price\" width=\"1024\" height=\"449\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Ethereum.png?w=1950 1950w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Ethereum.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Ethereum.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Ethereum.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Ethereum.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Ethereum.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/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 first major resistance is now near $2,350 or the 50% Fib retracement level of the downward move from the $2,445 swing high to the $2,258 low. A close above the $2,350 resistance could send the price toward $2,400. The next key resistance is near $2,440. A clear move above the $2,440 zone could start another increase. The next resistance sits at $2,500, above which Ethereum might rally and test the $2,550 zone.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,300 resistance, it could continue to move down. Initial support on the downside is near the $2,250 level.<\/p>\n<p>The first key support could be the $2,240 zone. A downside break and a close below $2,240 might start another major decline. In the stated case, Ether could test the $2,200 support. Any more losses might send the price toward the $2,120 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n<p>Major Support Level \u2013 $2,240<\/p>\n<p>Major Resistance Level \u2013 $2,350<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is correcting gains below the $2,350 zone. ETH could attempt a fresh increase unless there is a close below the $2,200 support. Ethereum is correcting gains and trading below the $2,350 level. The price is trading below $2,320 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $2,300 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a fresh increase if there is a close above the $2,350 level. Ethereum Price Eyes Fresh Increase Ethereum price struggled to clear the $2,440 resistance zone and started a fresh decline. ETH declined below the $2,350 support zone to move into a short-term bearish zone, like Bitcoin. There was a close below the $2,320 level. A low was formed near $2,258 and the price is now consolidating losses. Ethereum is now trading below $2,320 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance near $2,300 on the hourly chart of ETH\/USD. On the upside, the price is facing resistance near the $2,300 level and the trend line. It is close to the 23.6% Fib retracement level of the downward move from the $2,445 swing high to the $2,258 low. Source: ETHUSD on TradingView.com The first major resistance is now near $2,350 or the 50% Fib retracement level of the downward move from the $2,445 swing high to the $2,258 low. A close above the $2,350 resistance could send the price toward $2,400. The next key resistance is near $2,440. A clear move above the $2,440 zone could start another increase. The next resistance sits at $2,500, above which Ethereum might rally and test the $2,550 zone. More Losses in ETH? If Ethereum fails to clear the $2,300 resistance, it could continue to move down. Initial support on the downside is near the $2,250 level. The first key support could be the $2,240 zone. A downside break and a close below $2,240 might start another major decline. In the stated case, Ether could test the $2,200 support. Any more losses might send the price toward the $2,120 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $2,240 Major Resistance Level \u2013 $2,350<\/p>\n","protected":false},"author":67,"featured_media":556685,"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-567552","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 Could Start 2024 With A Strong Increase If It Holds This Support<\/title>\n<meta name=\"description\" content=\"Ethereum price is correcting gains below the $2,350 zone. 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