ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\nAn upside break above the $2,880 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,000 resistance zone.<\/p>\n
Downside Correction In ETH?<\/h2>\n If Ethereum fails to clear the $2,650 resistance, it could start a downside correction. Initial support on the downside is near the $2,600 level and the 50% Fib retracement level of the upward wave from the $2,489 swing low to the $2,719 high.<\/p>\n
The first major support sits near the $2,540 zone. A clear move below the $2,540 support might push the price toward $2,500. Any more losses might send the price toward the $2,450 support level in the near term. The next key support sits at $2,320.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\nHourly RSI – <\/strong>The RSI for ETH\/USD is now above the 50 zone.<\/p>\nMajor Support Level \u2013 $2,600<\/p>\n
Major Resistance Level \u2013 $2,650<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price started a fresh increase above the $2,600 resistance. ETH is consolidating gains and might aim for a move above the $2,720 resistance. Ethereum started a decent increase above the $2,650 zone. The price is trading above $2,600 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,540 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue to rise if it clears the $2,650 and $2,720 resistance levels. Ethereum Price Eyes More Gains Ethereum price formed a base above the $2,550 level and started a fresh increase like Bitcoin. ETH climbed above the $2,600 and $2,620 resistance levels to move into a positive zone. The price even broke the $2,650 resistance. A high is formed at $2,719 and the price is now consolidating gains. There was a minor decline below the $2,680 level. The price dipped below the 23.6% Fib retracement level of the upward wave from the $2,489 swing low to the $2,719 high. Ethereum price is now trading above $2,600 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2,540 on the hourly chart of ETH\/USD. On the upside, the price seems to be facing hurdles near the $2,650 level. The first major resistance is near the $2,700 level. The main resistance is now forming near $2,720. A clear move above the $2,720 resistance might send the price toward the $2,880 resistance. An upside break above the $2,880 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,000 resistance zone. Downside Correction In ETH? If Ethereum fails to clear the $2,650 resistance, it could start a downside correction. Initial support on the downside is near the $2,600 level and the 50% Fib retracement level of the upward wave from the $2,489 swing low to the $2,719 high. The first major support sits near the $2,540 zone. A clear move below the $2,540 support might push the price toward $2,500. Any more losses might send the price toward the $2,450 support level in the near term. The next key support sits at $2,320. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now above the 50 zone. Major Support Level \u2013 $2,600 Major Resistance Level \u2013 $2,650<\/p>\n","protected":false},"author":67,"featured_media":650814,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83362],"tags":[65296,1946,8686,78803],"class_list":["post-650812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n
Ethereum Price Consolidates Gains: Is It Ready for Another Push?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n