{"id":570066,"date":"2024-01-18T05:31:53","date_gmt":"2024-01-18T05:31:53","guid":{"rendered":"https:\/\/uniquehot.com\/?p=570066"},"modified":"2024-06-11T10:55:23","modified_gmt":"2024-06-11T10:55:23","slug":"ethereum-price-rejects-2600","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-rejects-2600\/","title":{"rendered":"Ethereum Price Rejects $2,600, Can Bulls Save This Key Support?"},"content":{"rendered":"<p><em>Ethereum price struggled to extend gains above $2,600 and $2,620. ETH trimmed gains and might struggle to stay above the $2,500 support zone.<\/em><\/p>\n<ul>\n<li>Ethereum attempted a fresh increase but failed to surpass $2,620.<\/li>\n<li>The price is trading below $2,550 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $2,540 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair start another increase if the bulls protect the $2,500 and $2,470 support levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Revisits Support<\/h2>\n<p>Ethereum price started a fresh increase above the $2,520 resistance zone. ETH even climbed above the $2,550 level, but the bears were active near $2,600, like <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-faces-uphill-task-43500\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>.<\/p>\n<p>The price traded as high as $2,614 and recently started a fresh decline. There was a move below the $2,550 support zone. The price traded below the 61.8% Fib retracement level of the upward wave from the $2,471 swing low to the $2,614 high.<\/p>\n<p>Ethereum is now trading below $2,550 and the <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-grinds-higher-2620\/\" target=\"_blank\" rel=\"noopener \">100-hourly Simple Moving Average<\/a>. The bulls seem to be currently active above the 76.4% Fib retracement level of the upward wave from the $2,471 swing low to the $2,614 high.<\/p>\n<p>On the upside, the price is facing resistance near the $2,540 level. There is also a key bearish trend line forming with resistance near $2,540 on the hourly chart of ETH\/USD. The next major resistance is now near $2,580. A clear move above the $2,580 level might start a decent increase. In the stated case, the price could rise toward the $2,620 level.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_9c554f.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-570067\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_9c554f.png?resize=1024%2C461\" alt=\"Ethereum Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_9c554f.png?w=1835 1835w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_9c554f.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_9c554f.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_9c554f.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_9c554f.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_9c554f.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Ethereum_9c554f.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 next key hurdle sits near the $2,650 zone. A close above the $2,650 resistance could start another steady increase. The next key resistance is near $2,720. Any more gains might send the price toward the $2,800 zone.<\/p>\n<h2>Downside Break in ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,540 resistance, it could start another decline. Initial support on the downside is near the $2,500 level.<\/p>\n<p>The next key support could be the $2,470 zone. A downside break below the $2,470 support might send the price further lower. In the stated case, Ether could test the $2,400 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 gaining momentum in the bearish 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 $2,500<\/p>\n<p>Major Resistance Level \u2013 $2,540<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price struggled to extend gains above $2,600 and $2,620. ETH trimmed gains and might struggle to stay above the $2,500 support zone. Ethereum attempted a fresh increase but failed to surpass $2,620. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $2,540 on the hourly chart of ETH\/USD (data feed via Kraken). The pair start another increase if the bulls protect the $2,500 and $2,470 support levels. Ethereum Price Revisits Support Ethereum price started a fresh increase above the $2,520 resistance zone. ETH even climbed above the $2,550 level, but the bears were active near $2,600, like Bitcoin. The price traded as high as $2,614 and recently started a fresh decline. There was a move below the $2,550 support zone. The price traded below the 61.8% Fib retracement level of the upward wave from the $2,471 swing low to the $2,614 high. Ethereum is now trading below $2,550 and the 100-hourly Simple Moving Average. The bulls seem to be currently active above the 76.4% Fib retracement level of the upward wave from the $2,471 swing low to the $2,614 high. On the upside, the price is facing resistance near the $2,540 level. There is also a key bearish trend line forming with resistance near $2,540 on the hourly chart of ETH\/USD. The next major resistance is now near $2,580. A clear move above the $2,580 level might start a decent increase. In the stated case, the price could rise toward the $2,620 level. Source: ETHUSD on TradingView.com The next key hurdle sits near the $2,650 zone. A close above the $2,650 resistance could start another steady increase. The next key resistance is near $2,720. Any more gains might send the price toward the $2,800 zone. Downside Break in ETH? If Ethereum fails to clear the $2,540 resistance, it could start another decline. Initial support on the downside is near the $2,500 level. The next key support could be the $2,470 zone. A downside break below the $2,470 support might send the price further lower. In the stated case, Ether could test the $2,400 support. Any more losses might send the price toward the $2,350 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $2,500 Major Resistance Level \u2013 $2,540<\/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-570066","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 Rejects $2,600, Can Bulls Save This Key Support?<\/title>\n<meta name=\"description\" content=\"Ethereum price struggled to extend gains above $2,600 and $2,620. 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