{"id":569897,"date":"2024-01-17T05:22:33","date_gmt":"2024-01-17T05:22:33","guid":{"rendered":"https:\/\/uniquehot.com\/?p=569897"},"modified":"2024-06-11T14:44:34","modified_gmt":"2024-06-11T14:44:34","slug":"ethereum-price-grinds-higher-2620","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-grinds-higher-2620\/","title":{"rendered":"Ethereum Price Grinds Higher, Is This The Start Bulls Were Waiting For?"},"content":{"rendered":"<p><em>Ethereum price is attempting a fresh increase above the $2,550 level. ETH could continue to move up unless there is a drop below the $2,525 support.<\/em><\/p>\n<ul>\n<li>Ethereum is attempting a fresh increase above the $2,520 level.<\/li>\n<li>The price is trading above $2,520 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a connecting bullish trend line forming with support at $2,540 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could continue to move up if it clears the $2,600 and $2,620 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Holds Support<\/h2>\n<p>Ethereum price remained well-supported above the $2,450 level. ETH outperformed <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-signals-recovery-44000\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a> and started a fresh increase above the $2,500 resistance zone.<\/p>\n<p>There was a move above the $2,550 resistance and the 100-hourly Simple Moving Average. The price even broke the $2,600 level before the bears appeared. A high is formed near $2,614 and the price is now correcting gains. There was a minor move below the 23.6% Fib retracement level of the upward move from the $2,471 swing low to the $2,614 high.<\/p>\n<p>Ethereum is still trading above $2,520 and the <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-rangebound-2440\/\" target=\"_blank\" rel=\"noopener \">100-hourly Simple Moving Average<\/a>. There is also a connecting bullish trend line forming with support at $2,540 on the hourly chart of ETH\/USD. It is close to the 50% Fib retracement level of the upward move from the $2,471 swing low to the $2,614 high.<\/p>\n<p>On the upside, the price is facing resistance near the $2,600 level. The next major resistance is now near $2,620. A clear move above the $2,620 level might start a decent increase. In the stated case, the price could rise toward the $2,665 level.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_4c2e1e.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-569898\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_4c2e1e.png?resize=1024%2C461\" alt=\"Ethereum Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_4c2e1e.png?w=1835 1835w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_4c2e1e.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_4c2e1e.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_4c2e1e.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_4c2e1e.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_4c2e1e.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_4c2e1e.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 main breakout zone is now forming near the $2,710 zone. A close above the $2,710 resistance could start another major increase. The next key resistance is near $2,780. Any more gains might send the price toward the $2,880 zone.<\/p>\n<h2>Fresh Decline in ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,620 resistance, it could start another decline. Initial support on the downside is near the $2,550 level and the trend line.<\/p>\n<p>The next key support could be the $2,500 zone. A downside break below the $2,500 support might send the price further lower. In the stated case, Ether could test the $2,450 support. Any more losses might send the price toward the $2,350 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 above the 50 level.<\/p>\n<p>Major Support Level \u2013 $2,540<\/p>\n<p>Major Resistance Level \u2013 $2,620<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is attempting a fresh increase above the $2,550 level. ETH could continue to move up unless there is a drop below the $2,525 support. Ethereum is attempting a fresh increase above the $2,520 level. The price is trading above $2,520 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $2,540 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue to move up if it clears the $2,600 and $2,620 resistance levels. Ethereum Price Holds Support Ethereum price remained well-supported above the $2,450 level. ETH outperformed Bitcoin and started a fresh increase above the $2,500 resistance zone. There was a move above the $2,550 resistance and the 100-hourly Simple Moving Average. The price even broke the $2,600 level before the bears appeared. A high is formed near $2,614 and the price is now correcting gains. There was a minor move below the 23.6% Fib retracement level of the upward move from the $2,471 swing low to the $2,614 high. Ethereum is still trading above $2,520 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $2,540 on the hourly chart of ETH\/USD. It is close to the 50% Fib retracement level of the upward move from the $2,471 swing low to the $2,614 high. On the upside, the price is facing resistance near the $2,600 level. The next major resistance is now near $2,620. A clear move above the $2,620 level might start a decent increase. In the stated case, the price could rise toward the $2,665 level. Source: ETHUSD on TradingView.com The main breakout zone is now forming near the $2,710 zone. A close above the $2,710 resistance could start another major increase. The next key resistance is near $2,780. Any more gains might send the price toward the $2,880 zone. Fresh Decline in ETH? If Ethereum fails to clear the $2,620 resistance, it could start another decline. Initial support on the downside is near the $2,550 level and the trend line. The next key support could be the $2,500 zone. A downside break below the $2,500 support might send the price further lower. In the stated case, Ether could test the $2,450 support. Any more losses might send the price toward the $2,350 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 above the 50 level. Major Support Level \u2013 $2,540 Major Resistance Level \u2013 $2,620<\/p>\n","protected":false},"author":67,"featured_media":457917,"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-569897","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 Grinds Higher, Is This The Start Bulls Were Waiting For?<\/title>\n<meta name=\"description\" content=\"Ethereum price is attempting a fresh increase above the $2,550 level. 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