{"id":567320,"date":"2023-12-29T03:58:43","date_gmt":"2023-12-29T03:58:43","guid":{"rendered":"https:\/\/uniquehot.com\/?p=567320"},"modified":"2024-06-11T07:00:37","modified_gmt":"2024-06-11T07:00:37","slug":"ethereum-price-retreats-2440","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-retreats-2440\/","title":{"rendered":"Ethereum Price Retreats From Highs But Technicals Suggest Upside Continuation"},"content":{"rendered":"<p><em>Ethereum price is correcting gains from the $2,440 zone. ETH is correcting gains, but the bulls might remain active near the $2,300 and $2,240 support levels.<\/em><\/p>\n<ul>\n<li>Ethereum is correcting gains and trading below the $2,400 level.<\/li>\n<li>The price is trading above $2,320 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a bullish flag forming with resistance near $2,360 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a fresh increase if there is a close above the $2,400 level.<\/li>\n<\/ul>\n<h2>Ethereum Price Remains Supported<\/h2>\n<p>Ethereum price climbed higher above the $2,320 resistance zone. ETH even broke the $2,400 level before the bears appeared. A high was formed near $2,441 before the price started a downside correction, like <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-faces-rejection-41550\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>.<\/p>\n<p>There was a move below the $2,400 and $2,380 levels. The price declined and tested the 50% Fib retracement level of the upward wave from the $2,180 swing low to the $2,441 high. The bulls seem to be active near the $2,320 support zone.<\/p>\n<p>Ethereum is now trading above $2,320 and the <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-surges-2440\/\" target=\"_blank\" rel=\"noopener \">100-hourly Simple Moving Average<\/a>. On the upside, the price is facing resistance near the $2,360 level. There is also a bullish flag forming with resistance near $2,360 on the hourly chart of ETH\/USD.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Ethereum-19.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-567321\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Ethereum-19.png?resize=1024%2C449\" alt=\"Ethereum Price\" width=\"1024\" height=\"449\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Ethereum-19.png?w=1950 1950w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Ethereum-19.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Ethereum-19.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Ethereum-19.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Ethereum-19.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Ethereum-19.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Ethereum-19.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>The first major resistance is now near $2,400. A close above the $2,400 resistance could send the price toward $2,440. The next key resistance is near $2,500. A clear move above the $2,500 zone could start another increase. The next resistance sits at $2,620, above which Ethereum might rally and test the $2,750 zone.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,400 resistance, it could continue to move down. Initial support on the downside is near the $2,320 level and the 100 hourly SMA.<\/p>\n<p>The first key support could be the $2,240 zone or the 76.4% Fib retracement level of the upward wave from the $2,180 swing low to the $2,441 high. A downside break and a close below $2,240 might start another major decline. In the stated case, Ether could test the $2,165 support. Any more losses might send the price toward the $2,120 level. Similarly, in the <a style=\"color: #000000\" href=\"https:\/\/cryptocasino-de.com\/\" rel=\"nofollow\">crypto casino<\/a> markets, significant movements could influence betting strategies and outcomes.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now near the 50 level.<\/p>\n<p>Major Support Level \u2013 $2,320<\/p>\n<p>Major Resistance Level \u2013 $2,400<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is correcting gains from the $2,440 zone. ETH is correcting gains, but the bulls might remain active near the $2,300 and $2,240 support levels. Ethereum is correcting gains and trading below the $2,400 level. The price is trading above $2,320 and the 100-hourly Simple Moving Average. There is a bullish flag forming with resistance near $2,360 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a fresh increase if there is a close above the $2,400 level. Ethereum Price Remains Supported Ethereum price climbed higher above the $2,320 resistance zone. ETH even broke the $2,400 level before the bears appeared. A high was formed near $2,441 before the price started a downside correction, like Bitcoin. There was a move below the $2,400 and $2,380 levels. The price declined and tested the 50% Fib retracement level of the upward wave from the $2,180 swing low to the $2,441 high. The bulls seem to be active near the $2,320 support zone. Ethereum is now trading above $2,320 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,360 level. There is also a bullish flag forming with resistance near $2,360 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com The first major resistance is now near $2,400. A close above the $2,400 resistance could send the price toward $2,440. The next key resistance is near $2,500. A clear move above the $2,500 zone could start another increase. The next resistance sits at $2,620, above which Ethereum might rally and test the $2,750 zone. More Losses in ETH? If Ethereum fails to clear the $2,400 resistance, it could continue to move down. Initial support on the downside is near the $2,320 level and the 100 hourly SMA. The first key support could be the $2,240 zone or the 76.4% Fib retracement level of the upward wave from the $2,180 swing low to the $2,441 high. A downside break and a close below $2,240 might start another major decline. In the stated case, Ether could test the $2,165 support. Any more losses might send the price toward the $2,120 level. Similarly, in the crypto casino markets, significant movements could influence betting strategies and outcomes. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now near the 50 level. Major Support Level \u2013 $2,320 Major Resistance Level \u2013 $2,400<\/p>\n","protected":false},"author":67,"featured_media":554906,"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-567320","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 Retreats From Highs But Technicals Suggest Upside Continuation<\/title>\n<meta name=\"description\" content=\"Ethereum price is correcting gains from the $2,440 zone. 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