• CRYPTOCURRENCY
  • REGULATIONS
  • ETHEREUM
  • BITCOIN
  • MINING
  • NFT
No Result
View All Result
  • CRYPTOCURRENCY
  • REGULATIONS
  • ETHEREUM
  • BITCOIN
  • MINING
  • NFT
No Result
View All Result
No Result
View All Result
Ethereum Price Relatively Muted, Bulls Still Aim Key Upside Break

Ethereum Price Relatively Muted, Bulls Still Aim Key Upside Break

CryptoRaja by CryptoRaja
December 26, 2022
in ETHEREUM
0
Share on FacebookShare on Twitter

You might also like

Ethereum to launch “Zhejiang” public withdrawal testnet on Feb. 1

Ethereum to launch “Zhejiang” public withdrawal testnet on Feb. 1

January 31, 2023
Can Elon Musk’s McDonald’s Offer Give DOGE A ‘Happy’ Price?

Can Elon Musk’s McDonald’s Offer Give DOGE A ‘Happy’ Price?

January 30, 2023

Ethereum is consolidating below the $1,230 resistance against the US Dollar. ETH could start a steady increase if it clears the $1,230 and $1,250 resistance levels.

  • Ethereum is slowly moving higher from the $1,190 support zone.
  • The price is now trading above $1,210 and the 100 hourly simple moving average.
  • There was a break above a key bearish trend line with resistance near $1,215 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could gain bullish momentum if there is a clear move above $1,230 and $1,250.

Ethereum Price Eyes Upside Break

Ethereum price remained well bid above the $1,180 and $1,190 levels. ETH formed a base above the $1,190 level and started an upward move.

There was a clear move above the $1,200 resistance zone and the 100 hourly simple moving average. Ether price climbed above the 50% Fib retracement level of the downward move from the $1,237 swing high to $1,193 swing low.

Besides, there was a break above a key bearish trend line with resistance near $1,215 on the hourly chart of ETH/USD. The pair is now consolidating near the 61.8% Fib retracement level of the downward move from the $1,237 swing high to $1,193 swing low.

An immediate resistance is near the $1,230 level. The next major resistance is near the $1,250 level. A clear upside break above the $1,250 resistance could start a steady increase. In the stated case, the price may perhaps rise towards the $1,300 resistance.

Source: ETHUSD on TradingView.com

The next major resistance could be $1,350. If there is an upside break above the $1,350 resistance, the price might rise towards $1,400. Any more gains might send the price towards the $1,500 resistance zone.

ETH Still In a Range?

If ethereum fails to climb above the $1,230 resistance, it could start another drop. An initial support on the downside is near the $1,215 level and the 100 hourly simple moving average.

The next major support is near the $1,200 level. The first major support is near the $1,190 level. A downside break below $1,190 might spark a move towards the $1,150 support. Any more losses could lead the price towards the $1,100 zone.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 level.

Major Support Level – $1,190

Major Resistance Level – $1,230

Related

CryptoRaja

CryptoRaja

Yogesh Soni is a Cryptocurrency Enthusiast and working in this industry since 2015. He has great knowledge of Crypto trading, Article Writting and web developing.

Related Stories

Ethereum to launch “Zhejiang” public withdrawal testnet on Feb. 1

Ethereum to launch “Zhejiang” public withdrawal testnet on Feb. 1

by CryptoRaja
January 31, 2023

The “Zhejiang” public withdrawal testnet will then be adopted by the Shanghai testnet. That is the primary main improve for...

Can Elon Musk’s McDonald’s Offer Give DOGE A ‘Happy’ Price?

Can Elon Musk’s McDonald’s Offer Give DOGE A ‘Happy’ Price?

by CryptoRaja
January 30, 2023

Dogecoin, the unique memecoin, is at the moment exhibiting a stable efficiency, retesting its present resistance which is at $0.09370....

On Elon Musk’s McDonald’s Offer And Influence To Push DOGE Price Up

On Elon Musk’s McDonald’s Offer And Influence To Push DOGE Price Up

by CryptoRaja
January 30, 2023

Dogecoin, the unique memecoin, is at the moment exhibiting a strong efficiency, retesting its present resistance which is at $0.09370....

Bullish Break To $120 Still In Sight

Bullish Break To $120 Still In Sight

by CryptoRaja
January 30, 2023

Litecoin value prolonged its enhance above the $90 zone towards the US Greenback. LTC is rising and would possibly try...

Next Post
This Resistance Could Trigger New Rally

This Resistance Could Trigger New Rally

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Cryptoraja logo
Get most recent news on cryptocurrencies at CryptoRaja. Latest news on Bitcoin, Ethereum , Blockchain and Education related content etc.

© CRYPTORAJA 2022 All Rights Reserved

No Result
View All Result
  • BLOCKCHAIN
  • ETHEREUM
  • BITCOIN
  • NFT

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings.

CryptoRaja
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.