{"id":507524,"date":"2022-10-24T04:32:48","date_gmt":"2022-10-24T04:32:48","guid":{"rendered":"https:\/\/wncen.com\/?p=507524"},"modified":"2024-06-11T14:27:53","modified_gmt":"2024-06-11T14:27:53","slug":"ethereum-price-eth-could-rally-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-eth-could-rally-bitcoin\/","title":{"rendered":"Ethereum Price Breaks Shackles, Why ETH Could Rally Before Bitcoin"},"content":{"rendered":"
Ethereum gained pace and broke the $1,320 resistance against the US Dollar. ETH is showing positive signs and might surge above the $1,400 resistance.<\/em><\/p>\n
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Ethereum started a steady increase above the $1,320 and $1,330 levels.<\/li>\n
The price is now trading above $1,300 and the 100 hourly simple moving average.<\/li>\n
There is a major bullish trend line forming with support near $1,320 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could rally before bitcoin if it stays above the $1,300 pivot zone.<\/li>\n<\/ul>\n
Ethereum Price Gains Strength<\/h2>\n
Ethereum remained well bid above the $1,265 level and started a steady increase. ETH was able to clear the $1,290 and $1,300 levels to move into a positive zone.<\/p>\n
The price gained nearly 5% and there was a break above the $1,320 resistance zone. Ether price even climbed above the $1,350 level and settled above the 100 hourly simple moving average. It traded as high as $1,370 and recently started a downside correction.<\/p>\n
The price is now moving lower towards the $1,340 zone. It is close to the 23.6% Fib retracement level of the upward move from the $1,252 swing low to $1,370 high. There is also a major bullish trend line forming with support near $1,320 on the hourly chart of ETH\/USD.<\/p>\n