{"id":454585,"date":"2021-01-15T05:28:27","date_gmt":"2021-01-15T05:28:27","guid":{"rendered":"https:\/\/uniquehot.com\/?p=454585"},"modified":"2024-06-11T14:12:46","modified_gmt":"2024-06-11T14:12:46","slug":"ethereum-struggles-near-1250","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-struggles-near-1250\/","title":{"rendered":"TA: Ethereum Struggles Near $1,250: Why ETH Remains Attractive On Dips"},"content":{"rendered":"
Ethereum gained bullish momentum above the $1,150 resistance against the US Dollar. ETH price broke the $1.200 resistance, but it struggled to clear the $1,250 level.<\/em><\/p>\n There was a strong increase in bitcoin<\/a> and Ethereum above $38,500 and $1,150 respectively. ETH price gained bullish momentum after it broke the $1,150 resistance and the 100 hourly simple moving average.<\/p>\n The price even broke the $1,200 and $1,220 resistance levels<\/a>. However, the bears were active near the $1,250 level. The bulls made two attempts to clear the $1,250 zone, but they failed. The recent high was formed near $1,252 and the price is currently consolidating gains.<\/p>\n <\/a><\/p>\n It already tested the 23.6% Fib retracement level of the recent increase from the $983 swing low to $1,252 high. On the downside, there is a major bullish trend line forming with support near $1,200 on the hourly chart of ETH\/USD.<\/p>\n A downside break below the trend line support could lead the price towards the $1,150 support zone. On the upside, the $1,250 level is a major breakout zone. A clear break above the $1,250 level could open the doors for a steady increase in the coming sessions. The next key resistance is near the $1,300 and $1,320 levels.<\/p>\n If ethereum corrects lower below the trend line and $1,200, it could find a strong support near $1,150 and the 100 hourly simple moving average.<\/p>\n The next major support is near $1,120. It is close to the 50% Fib retracement level of the recent increase from the $983 swing low to $1,252 high. Any more losses may possibly call for a fresh decline towards the $1,050 support level in the near term.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly losing pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is moving lower towards the 55 level.<\/p>\n Major Support Level \u2013 $1,150<\/p>\n Major Resistance Level \u2013 $1,250<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum gained bullish momentum above the $1,150 resistance against the US Dollar. ETH price broke the $1.200 resistance, but it struggled to clear the $1,250 level. Ethereum started a steady increase above the $1,150 and $1,200 resistance levels. The price is facing a resistance near $1,250 level, but it is above the 100 hourly simple moving average. There is a major bullish trend line forming with support near $1,200 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could correct lower, but the previous resistance near $1,150 could act as a strong support. Ethereum Price Turns Green There was a strong increase in bitcoin and Ethereum above $38,500 and $1,150 respectively. ETH price gained bullish momentum after it broke the $1,150 resistance and the 100 hourly simple moving average. The price even broke the $1,200 and $1,220 resistance levels. However, the bears were active near the $1,250 level. The bulls made two attempts to clear the $1,250 zone, but they failed. The recent high was formed near $1,252 and the price is currently consolidating gains. Source: ETHUSD on TradingView.com It already tested the 23.6% Fib retracement level of the recent increase from the $983 swing low to $1,252 high. On the downside, there is a major bullish trend line forming with support near $1,200 on the hourly chart of ETH\/USD. A downside break below the trend line support could lead the price towards the $1,150 support zone. On the upside, the $1,250 level is a major breakout zone. A clear break above the $1,250 level could open the doors for a steady increase in the coming sessions. The next key resistance is near the $1,300 and $1,320 levels. Dips Supported in ETH? If ethereum corrects lower below the trend line and $1,200, it could find a strong support near $1,150 and the 100 hourly simple moving average. The next major support is near $1,120. It is close to the 50% Fib retracement level of the recent increase from the $983 swing low to $1,252 high. Any more losses may possibly call for a fresh decline towards the $1,050 support level in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is moving lower towards the 55 level. Major Support Level \u2013 $1,150 Major Resistance Level \u2013 $1,250<\/p>\n","protected":false},"author":67,"featured_media":454587,"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":[1946,8686,78803],"class_list":["post-454585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price Turns Green<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in ETH?<\/h2>\n