{"id":509796,"date":"2022-11-23T05:35:18","date_gmt":"2022-11-23T05:35:18","guid":{"rendered":"https:\/\/wncen.com\/?p=509796"},"modified":"2024-06-11T12:34:17","modified_gmt":"2024-06-11T12:34:17","slug":"ethereum-price-bullish-moves-1200","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-bullish-moves-1200\/","title":{"rendered":"Ethereum Price Scores Bullish Moves, Can ETH Sustain This Recovery?"},"content":{"rendered":"<p><em>Ethereum found support near $1,070 and recovered above $1,150 against the US Dollar. ETH could rise further, but upsides might face hurdles near $1,200 and $1,230.<\/em><\/p>\n<ul>\n<li>Ethereum started an upside correction from the $1,070 and $1,080 support levels.<\/li>\n<li>The price is now trading above $1,120 and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a major bearish trend line with resistance near $1,140 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could rise further towards $1,200 or even $1,230 in the near term.<\/li>\n<\/ul>\n<h2>Ethereum Price Recovers<\/h2>\n<p>Ethereum price remained well bid near the last swing low at $1,070, similar to <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-recovery-capped-16-5k\/\" target=\"_blank\" rel=\"noopener \">bitcoin<\/a>. ETH formed a base above the $1,070 and $1,080 levels before it started an upside correction.<\/p>\n<p>There was a decent recovery wave above the $1,120 and $1,140 resistance levels. Ether price jumped above the 50% Fib retracement level of the key drop from the $1,232 swing high to $1,073 low. Besides, there was a break above a major bearish trend line with resistance near $1,140 on the hourly chart of ETH\/USD.<\/p>\n<p>The price is now trading above $1,120 and the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-plunges-1000\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. An immediate resistance on the upside is near the $1,170 level. It is close to the 61.8% Fib retracement level of the key drop from the $1,232 swing high to $1,073 low.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Ethereum-7.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-509797\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Ethereum-7.png?resize=1834%2C845\" alt=\"Ethereum Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Ethereum-7.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Ethereum-7.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Ethereum-7.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Ethereum-7.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Ethereum-7.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Ethereum-7.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Ethereum-7.png?w=1140 1140w\" sizes=\"auto, (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 major resistance is near the $1,200 level. A clear break above the $1,200 resistance could send the price towards the $1,230 resistance zone. Any more gains might open the doors for a test of the $1,300 resistance zone.<\/p>\n<h2>Fresh Decline in ETH?<\/h2>\n<p>If ethereum fails to climb above the $1,200 resistance, it could start another decline. An initial support on the downside is near the $1,150 level and the 100 hourly simple moving average.<\/p>\n<p>The next major support is near the $1,120 level, below which ether price may perhaps decline further. In the stated scenario, the price could decline towards the $1,070 support zone in the near term. Any more losses might call for a move towards the main $1,000 support in the coming sessions.<\/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 above the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,120<\/p>\n<p>Major Resistance Level \u2013 $1,200<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum found support near $1,070 and recovered above $1,150 against the US Dollar. ETH could rise further, but upsides might face hurdles near $1,200 and $1,230. Ethereum started an upside correction from the $1,070 and $1,080 support levels. The price is now trading above $1,120 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,140 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could rise further towards $1,200 or even $1,230 in the near term. Ethereum Price Recovers Ethereum price remained well bid near the last swing low at $1,070, similar to bitcoin. ETH formed a base above the $1,070 and $1,080 levels before it started an upside correction. There was a decent recovery wave above the $1,120 and $1,140 resistance levels. Ether price jumped above the 50% Fib retracement level of the key drop from the $1,232 swing high to $1,073 low. Besides, there was a break above a major bearish trend line with resistance near $1,140 on the hourly chart of ETH\/USD. The price is now trading above $1,120 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,170 level. It is close to the 61.8% Fib retracement level of the key drop from the $1,232 swing high to $1,073 low. Source: ETHUSD on TradingView.com The next major resistance is near the $1,200 level. A clear break above the $1,200 resistance could send the price towards the $1,230 resistance zone. Any more gains might open the doors for a test of the $1,300 resistance zone. Fresh Decline in ETH? If ethereum fails to climb above the $1,200 resistance, it could start another decline. An initial support on the downside is near the $1,150 level and the 100 hourly simple moving average. The next major support is near the $1,120 level, below which ether price may perhaps decline further. In the stated scenario, the price could decline towards the $1,070 support zone in the near term. Any more losses might call for a move towards the main $1,000 support in the coming sessions. 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 above the 50 level. Major Support Level \u2013 $1,120 Major Resistance Level \u2013 $1,200<\/p>\n","protected":false},"author":67,"featured_media":462317,"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":[8323,1946,8686,78803],"class_list":["post-509796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Scores Bullish Moves, Can ETH Sustain This Recovery?<\/title>\n<meta name=\"description\" content=\"Ethereum found support near $1,070 and recovered above $1,150 against the US Dollar. 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