{"id":560012,"date":"2023-11-10T05:22:37","date_gmt":"2023-11-10T05:22:37","guid":{"rendered":"https:\/\/wncen.com\/?p=560012"},"modified":"2024-06-11T14:30:59","modified_gmt":"2024-06-11T14:30:59","slug":"ethereum-price-surges-10-pc-2120","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-surges-10-pc-2120\/","title":{"rendered":"Ethereum Price Surges 10%, Here\u2019s Why ETH Could Pump 5% More"},"content":{"rendered":"<p><em>Ethereum price is up over 10% and surpassed the $2,000 resistance. ETH is outperforming Bitcoin and might rise further toward the $2,200 resistance.<\/em><\/p>\n<ul>\n<li>Ethereum rallied above the $2,000 and $2,050 levels.<\/li>\n<li>The price is trading above $2,050 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a short-term rising channel forming with support near $2,115 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could continue to move higher toward the $2,200 resistance in the near term.<\/li>\n<\/ul>\n<h2>Ethereum Price Regains Strength<\/h2>\n<p>In the past 2-3 analyses, we discussed high chances of <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-primed-2000\/\" target=\"_blank\" rel=\"noopener \">Ethereum surging toward the $2,000 level.<\/a> ETH did start a strong increase and broke many hurdles near $1,920.<\/p>\n<p>It even surged above the $2,000 resistance, outperforming <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-bullish-streak-36k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>. It is up over 10% and consolidating near $2,125. A new multi-week high is formed near $2,137 and the price is now showing more positive signs. There is also a short-term rising channel forming with support near $2,115 on the hourly chart of ETH\/USD.<\/p>\n<p>It is trading above $2,050 and the 100-hourly Simple Moving Average. The price is also above the 23.6% Fib retracement level of the recent rally from the $1,905 swing low to the $2,137 high.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Ethereum-7.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-560013\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Ethereum-7.png?resize=1024%2C468\" alt=\"Ethereum Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Ethereum-7.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Ethereum-7.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Ethereum-7.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Ethereum-7.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Ethereum-7.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Ethereum-7.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Ethereum-7.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>On the upside, the price is facing resistance near the $2,135 level. The next major resistance sits at $2,150, above which the price could accelerate higher. In the stated case, the price could rally toward the $2,200 resistance. The next key resistance is near $2,250, above which the price could aim for a move toward the $2,320 level.<\/p>\n<h2>Buy Dips in ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,135 resistance, it could start a downside correction. Initial support on the downside is near the $2,115 level and the channel\u2019s trend line.<\/p>\n<p>The next key support is $2,080. The main support sits at $2,000 or the 61.8% Fib retracement level of the recent rally from the $1,905 swing low to the $2,137 high. A downside break below the $2,000 support might spark bearish moves. In the stated case, Ether could drop toward the 100-hourly Simple Moving Average or even $1,920 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 $2,080<\/p>\n<p>Major Resistance Level \u2013 $2,150<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is up over 10% and surpassed the $2,000 resistance. ETH is outperforming Bitcoin and might rise further toward the $2,200 resistance. Ethereum rallied above the $2,000 and $2,050 levels. The price is trading above $2,050 and the 100-hourly Simple Moving Average. There is a short-term rising channel forming with support near $2,115 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue to move higher toward the $2,200 resistance in the near term. Ethereum Price Regains Strength In the past 2-3 analyses, we discussed high chances of Ethereum surging toward the $2,000 level. ETH did start a strong increase and broke many hurdles near $1,920. It even surged above the $2,000 resistance, outperforming Bitcoin. It is up over 10% and consolidating near $2,125. A new multi-week high is formed near $2,137 and the price is now showing more positive signs. There is also a short-term rising channel forming with support near $2,115 on the hourly chart of ETH\/USD. It is trading above $2,050 and the 100-hourly Simple Moving Average. The price is also above the 23.6% Fib retracement level of the recent rally from the $1,905 swing low to the $2,137 high. Source: ETHUSD on TradingView.com On the upside, the price is facing resistance near the $2,135 level. The next major resistance sits at $2,150, above which the price could accelerate higher. In the stated case, the price could rally toward the $2,200 resistance. The next key resistance is near $2,250, above which the price could aim for a move toward the $2,320 level. Buy Dips in ETH? If Ethereum fails to clear the $2,135 resistance, it could start a downside correction. Initial support on the downside is near the $2,115 level and the channel\u2019s trend line. The next key support is $2,080. The main support sits at $2,000 or the 61.8% Fib retracement level of the recent rally from the $1,905 swing low to the $2,137 high. A downside break below the $2,000 support might spark bearish moves. In the stated case, Ether could drop toward the 100-hourly Simple Moving Average or even $1,920 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 $2,080 Major Resistance Level \u2013 $2,150<\/p>\n","protected":false},"author":67,"featured_media":504923,"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-560012","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 Surges 10%, Here\u2019s Why ETH Could Pump 5% More<\/title>\n<meta name=\"description\" content=\"Ethereum price is up over 10% and surpassed the $2,000 resistance. 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