{"id":569536,"date":"2024-01-15T05:06:29","date_gmt":"2024-01-15T05:06:29","guid":{"rendered":"https:\/\/uniquehot.com\/?p=569536"},"modified":"2024-06-11T14:44:27","modified_gmt":"2024-06-11T14:44:27","slug":"ethereum-price-faces-crucial-test-2440","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-faces-crucial-test-2440\/","title":{"rendered":"Ethereum Price Faces Crucial Test: Will $2,440 Withstand the Pressure?"},"content":{"rendered":"<p><em>Ethereum price struggled to clear $2,720 and corrected gains. ETH is now struggling to stay above the key $2,440 support zone and might extend losses.<\/em><\/p>\n<ul>\n<li>Ethereum climbed further higher toward $2,720 before the bears appeared.<\/li>\n<li>The price is trading below $2,550 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance near $2,520 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a downside thrust if it breaks the $2,440 support zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Revisits Support<\/h2>\n<p>Ethereum price outpaced <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-turns-at-risk-40k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a> and extended its increase above the $2,550 resistance. ETH even broke the $2,600 zone and spiked above $2,700. Finally, the beards appeared near the $2,720 resistance.<\/p>\n<p>A new multi-week high was formed near $2,716 before the <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-holds-ground-2580\/\" target=\"_blank\" rel=\"noopener \">price corrected gains<\/a>. There was a move below the $2,600 and $2,550 levels. The price declined below the 23.6% Fib retracement level of the upward move from the $2,170 swing low to the $2,716 high.<\/p>\n<p>Ethereum is now trading below $2,550 and the 100-hourly Simple Moving Average. If there is a fresh increase, the price might face resistance near the $2,520 level. There is also a connecting bearish trend line forming with resistance near $2,520 on the hourly chart of ETH\/USD.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum-10.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-569537\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum-10.png?resize=1024%2C461\" alt=\"Ethereum Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum-10.png?w=1835 1835w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum-10.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum-10.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum-10.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum-10.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum-10.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum-10.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 now near $2,585. A clear move above the $2,585 level might send ETH toward $2,650. The main resistance is now forming near the $2,720 level. A close above the $2,720 resistance could push the price further into a bullish zone. The next key resistance is near $2,780. Any more gains might send the price toward the $2,880 zone.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,520 resistance, it could continue to move down. Initial support on the downside is near the $2,440 level or the 50% Fib retracement level of the upward move from the $2,170 swing low to the $2,716 high.<\/p>\n<p>The next key support could be the $2,350 zone. A downside break below the $2,350 support might send the price further lower. In the stated case, Ether could test the $2,300 support. Any more losses might send the price toward the $2,240 level.<\/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 below the 50 level.<\/p>\n<p>Major Support Level \u2013 $2,440<\/p>\n<p>Major Resistance Level \u2013 $2,585<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price struggled to clear $2,720 and corrected gains. ETH is now struggling to stay above the key $2,440 support zone and might extend losses. Ethereum climbed further higher toward $2,720 before the bears appeared. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $2,520 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a downside thrust if it breaks the $2,440 support zone. Ethereum Price Revisits Support Ethereum price outpaced Bitcoin and extended its increase above the $2,550 resistance. ETH even broke the $2,600 zone and spiked above $2,700. Finally, the beards appeared near the $2,720 resistance. A new multi-week high was formed near $2,716 before the price corrected gains. There was a move below the $2,600 and $2,550 levels. The price declined below the 23.6% Fib retracement level of the upward move from the $2,170 swing low to the $2,716 high. Ethereum is now trading below $2,550 and the 100-hourly Simple Moving Average. If there is a fresh increase, the price might face resistance near the $2,520 level. There is also a connecting bearish trend line forming with resistance near $2,520 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com The next major resistance is now near $2,585. A clear move above the $2,585 level might send ETH toward $2,650. The main resistance is now forming near the $2,720 level. A close above the $2,720 resistance could push the price further into a bullish zone. The next key resistance is near $2,780. Any more gains might send the price toward the $2,880 zone. More Losses in ETH? If Ethereum fails to clear the $2,520 resistance, it could continue to move down. Initial support on the downside is near the $2,440 level or the 50% Fib retracement level of the upward move from the $2,170 swing low to the $2,716 high. The next key support could be the $2,350 zone. A downside break below the $2,350 support might send the price further lower. In the stated case, Ether could test the $2,300 support. Any more losses might send the price toward the $2,240 level. 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 below the 50 level. Major Support Level \u2013 $2,440 Major Resistance Level \u2013 $2,585<\/p>\n","protected":false},"author":67,"featured_media":461426,"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-569536","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 Faces Crucial Test: Will $2,440 Withstand the Pressure?<\/title>\n<meta name=\"description\" content=\"Ethereum price struggled to clear $2,720 and corrected gains. 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