{"id":634185,"date":"2024-08-09T03:38:35","date_gmt":"2024-08-09T03:38:35","guid":{"rendered":"https:\/\/uniquehot.com\/?p=634185"},"modified":"2024-08-09T03:05:24","modified_gmt":"2024-08-09T03:05:24","slug":"ethereum-price-rises-2550","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-rises-2550\/","title":{"rendered":"Ethereum Price Rises, Striving to Catch Up with Bitcoin&#8217;s Rally"},"content":{"rendered":"<p><em>Ethereum price gained pace for a move above the $2,550 resistance zone. ETH is now consolidating near $2,680 and eyeing more upsides above $2,750.<\/em><\/p>\n<ul>\n<li>Ethereum started a decent increase above the $2,450 and $2,550 levels.<\/li>\n<li>The price is trading above $2,550 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bullish trend line forming with support at $2,550 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could rise steadily if it clears the $2,720 resistance zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Eyes More Gains Above $2,720<\/h2>\n<p>Ethereum price started a steady <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-weakness-2550\/\" target=\"_blank\" rel=\"noopener \">upward move<\/a> above the $2,450 resistance level. ETH climbed above the $2,500 and $2,550 resistance levels like <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-reclaims-60k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a> above $58,000.<\/p>\n<p>The price even cleared the $2,650 resistance but gains were limited compared to BTC. A high was formed near $2,722 and the price is now consolidating gains. It is still above the 23.6% Fib retracement level of the upward move from the $2,311 swing low to the $2,722 high.<\/p>\n<p>Ethereum price is now trading above $2,550 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2,550 on the hourly chart of ETH\/USD. The trend line is close to the 100-hourly Simple Moving Average and the 50% Fib retracement level of the upward move from the $2,311 swing low to the $2,722 high.<\/p>\n<figure id=\"attachment_634186\" aria-describedby=\"caption-attachment-634186\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/Ethereum_f253ac.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-634186 size-full\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/Ethereum_f253ac.png?resize=1024%2C461\" alt=\"Ethereum Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/Ethereum_f253ac.png?w=1835 1835w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/Ethereum_f253ac.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/Ethereum_f253ac.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/Ethereum_f253ac.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/Ethereum_f253ac.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/Ethereum_f253ac.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/Ethereum_f253ac.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-634186\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>On the upside, the price is facing hurdles near the $2,700 level. The first major resistance is near the $2,720 level. A close above the $2,720 level might send Ether toward the $2,800 resistance. The next key resistance is near $2,865. An upside break above the $2,865 resistance might send the price higher toward the $3,000 resistance zone in the near term.<\/p>\n<h2>Are Dips Limited In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,720 resistance, it could start a downside correction. Initial support on the downside is near $2,620. The first major support sits near the $2,550 zone.<\/p>\n<p>A clear move below the $2,550 support might push the price toward $2,450. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now above the 50 zone.<\/p>\n<p>Major Support Level \u2013 $2,550<\/p>\n<p>Major Resistance Level \u2013 $2,720<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price gained pace for a move above the $2,550 resistance zone. ETH is now consolidating near $2,680 and eyeing more upsides above $2,750. Ethereum started a decent increase above the $2,450 and $2,550 levels. The price is trading above $2,550 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,550 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could rise steadily if it clears the $2,720 resistance zone. Ethereum Price Eyes More Gains Above $2,720 Ethereum price started a steady upward move above the $2,450 resistance level. ETH climbed above the $2,500 and $2,550 resistance levels like Bitcoin above $58,000. The price even cleared the $2,650 resistance but gains were limited compared to BTC. A high was formed near $2,722 and the price is now consolidating gains. It is still above the 23.6% Fib retracement level of the upward move from the $2,311 swing low to the $2,722 high. Ethereum price is now trading above $2,550 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2,550 on the hourly chart of ETH\/USD. The trend line is close to the 100-hourly Simple Moving Average and the 50% Fib retracement level of the upward move from the $2,311 swing low to the $2,722 high. On the upside, the price is facing hurdles near the $2,700 level. The first major resistance is near the $2,720 level. A close above the $2,720 level might send Ether toward the $2,800 resistance. The next key resistance is near $2,865. An upside break above the $2,865 resistance might send the price higher toward the $3,000 resistance zone in the near term. Are Dips Limited In ETH? If Ethereum fails to clear the $2,720 resistance, it could start a downside correction. Initial support on the downside is near $2,620. The first major support sits near the $2,550 zone. A clear move below the $2,550 support might push the price toward $2,450. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now above the 50 zone. Major Support Level \u2013 $2,550 Major Resistance Level \u2013 $2,720<\/p>\n","protected":false},"author":67,"featured_media":634187,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83362],"tags":[65296,1946,8686,78803],"class_list":["post-634185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Rises, Striving to Catch Up with Bitcoin&#039;s Rally<\/title>\n<meta name=\"description\" content=\"Ethereum price gained pace for a move above the $2,550 resistance zone. 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