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{"id":637206,"date":"2024-08-22T11:21:28","date_gmt":"2024-08-22T11:21:28","guid":{"rendered":"https:\/\/uniquehot.com\/?p=637206"},"modified":"2024-08-22T11:21:28","modified_gmt":"2024-08-22T11:21:28","slug":"ethereum-price-climb-2650","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-climb-2650\/","title":{"rendered":"Ethereum Price Ready to Climb if It Overcomes Key Resistance"},"content":{"rendered":"

Ethereum price is consolidating above the $2,550 resistance. ETH could gain bullish momentum if it clears the $2,650 resistance zone.<\/em><\/p>\n

\n
Ethereum is struggling to gain pace for a move above the $2,650 level.<\/li>\n
The price is trading above $2,600 and the 100-hourly Simple Moving Average.<\/li>\n
There is a short-term contracting triangle forming with resistance at $2,640 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could gain bullish momentum if there is a close above $2,650.<\/li>\n<\/ul>\n
Ethereum Price Starts Consolidation<\/h2>\n
Ethereum price remained stable above the $2,550 level. ETH formed a base and started a steady upward move above the $2,580 level like Bitcoin<\/a>. There was a move toward the $2,665 level.<\/p>\n
A high was formed at $2,662 and the price is consolidating. There was a minor pullback below the $2,600 level. The price declined below the 50% Fib retracement level of the upward move from the $2,536 swing low to the $2,662 high.<\/p>\n
Ethereum price is now trading above $2,620 and the 100-hourly Simple Moving Average<\/a>. If there is another increase, the price might face hurdles near the $2,650 level. There is also a short-term contracting triangle forming with resistance at $2,640 on the hourly chart of ETH\/USD.<\/p>\n
$\"Ethereum$ <\/a>
Source: ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
The first major resistance is near the $2,720 level. A close above the $2,720 level might send Ether toward the $2,750 resistance. The next key resistance is near $2,880. An upside break above the $2,880 resistance might send the price higher toward the $3,000 resistance zone in the near term.<\/p>\n
Another Decline In ETH?<\/h2>\n
If Ethereum fails to clear the $2,650 resistance, it could start another decline. Initial support on the downside is near $2,600. The first major support sits near the $2,580 zone. The 61.8% Fib retracement level of the upward move from the $2,536 swing low to the $2,662 high is also near the $2,580 level.<\/p>\n
A clear move below the $2,580 support might push the price toward $2,550 where the bulls could emerge. Any more losses might send the price toward the $2,500 support level in the near term. The next key support sits at $2,440.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now above the 50 zone.<\/p>\n
Major Support Level \u2013 $2,580<\/p>\n
Major Resistance Level \u2013 $2,650<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price is consolidating above the $2,550 resistance. ETH could gain bullish momentum if it clears the $2,650 resistance zone. Ethereum is struggling to gain pace for a move above the $2,650 level. The price is trading above $2,600 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with resistance at $2,640 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could gain bullish momentum if there is a close above $2,650. Ethereum Price Starts Consolidation Ethereum price remained stable above the $2,550 level. ETH formed a base and started a steady upward move above the $2,580 level like Bitcoin. There was a move toward the $2,665 level. A high was formed at $2,662 and the price is consolidating. There was a minor pullback below the $2,600 level. The price declined below the 50% Fib retracement level of the upward move from the $2,536 swing low to the $2,662 high. Ethereum price is now trading above $2,620 and the 100-hourly Simple Moving Average. If there is another increase, the price might face hurdles near the $2,650 level. There is also a short-term contracting triangle forming with resistance at $2,640 on the hourly chart of ETH\/USD. The first major resistance is near the $2,720 level. A close above the $2,720 level might send Ether toward the $2,750 resistance. The next key resistance is near $2,880. An upside break above the $2,880 resistance might send the price higher toward the $3,000 resistance zone in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,650 resistance, it could start another decline. Initial support on the downside is near $2,600. The first major support sits near the $2,580 zone. The 61.8% Fib retracement level of the upward move from the $2,536 swing low to the $2,662 high is also near the $2,580 level. A clear move below the $2,580 support might push the price toward $2,550 where the bulls could emerge. Any more losses might send the price toward the $2,500 support level in the near term. The next key support sits at $2,440. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now above the 50 zone. Major Support Level \u2013 $2,580 Major Resistance Level \u2013 $2,650<\/p>\n","protected":false},"author":67,"featured_media":630309,"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-637206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Price Ready to Climb if It Overcomes Key Resistance<\/title>\n<meta name=\"description\" content=\"Ethereum price is consolidating above the $2,550 resistance. 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