ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\nThe first major resistance is near the $2,600 level. A close above the $2,600 level might send Ether toward the $2,650 resistance. The next key resistance is near $2,720. An upside break above the $2,720 resistance might send the price higher toward the $2,800 resistance zone in the near term.<\/p>\n
Another Decline In ETH?<\/h2>\n If Ethereum fails to clear the $2,550 resistance, it could start another decline. Initial support on the downside is near $2,495. The first major support sits near the $2,450 zone.<\/p>\n
A clear move below the $2,450 support might push the price toward $2,400 where the bulls could emerge. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining 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 $2,450<\/p>\n
Major Resistance Level \u2013 $2,550<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price is attempting a recovery wave from the $2,400 zone. ETH must clear $2,550 to continue higher in the near term. Ethereum started a decent recovery wave above the $2,450 level. The price is trading above $2,500 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $2,485 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must stay above $2,500 to start another increase in the near term. Ethereum Price Starts Recovery Ethereum price extended losses below the $2,500 level. ETH even tested the $2,400 support before the bulls appeared. The price started a recovery wave above the $2,450 level like Bitcoin. There was a move above the $2,480 and $2,500 resistance levels. The price climbed above the 50% Fib retracement level of the downward wave from the $2,595 swing high to the $2,400 low. Besides, there was a break above a connecting bearish trend line with resistance at $2,485 on the hourly chart of ETH\/USD. Ethereum price is now trading above $2,500 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,550 level. It is close to the 76.4% Fib retracement level of the downward wave from the $2,595 swing high to the $2,400 low. The first major resistance is near the $2,600 level. A close above the $2,600 level might send Ether toward the $2,650 resistance. The next key resistance is near $2,720. An upside break above the $2,720 resistance might send the price higher toward the $2,800 resistance zone in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,550 resistance, it could start another decline. Initial support on the downside is near $2,495. The first major support sits near the $2,450 zone. A clear move below the $2,450 support might push the price toward $2,400 where the bulls could emerge. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now above the 50 zone. Major Support Level \u2013 $2,450 Major Resistance Level \u2013 $2,550<\/p>\n","protected":false},"author":67,"featured_media":633638,"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-639422","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 Gains May Fade Soon: Can Bulls Sustain the Recovery?<\/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