{"id":1679,"date":"2024-05-15T03:58:16","date_gmt":"2024-05-15T03:58:16","guid":{"rendered":"https:\/\/cryptd.in\/ethereum-price-anticipates-upside-break-to-shift-sentiment-towards-bullish\/"},"modified":"2024-05-15T03:58:16","modified_gmt":"2024-05-15T03:58:16","slug":"ethereum-price-anticipates-upside-break-to-shift-sentiment-towards-bullish","status":"publish","type":"post","link":"https:\/\/cryptd.in\/en\/ethereum-price-anticipates-upside-break-to-shift-sentiment-towards-bullish\/","title":{"rendered":"Ethereum Price Anticipates Upside Break To Shift Sentiment Towards Bullish"},"content":{"rendered":"

Ethereum price is eyeing an upside break above the $2,900 level. ETH must settle above $2,900 and $2,940 to continue higher in the near term.<\/em><\/p>\n

Ethereum is forming a base above the $2,860 support zone.
\nThe price is trading below $2,950 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance at $2,905 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if there is a close above the $2,940 and $2,950 resistance levels.<\/p>\n

Ethereum Price Eyes Fresh Increase<\/h2>\n

Ethereum price struggled to settle above the $3,000 level and started another decline, like Bitcoin<\/a>. ETH traded below the $2,950 and $2,940 support levels.<\/p>\n

The price even traded below $2,900. However, the bulls were again active near the $2,860 support zone. A low was formed at $2,860 and the price is now consolidating losses. It is slowly moving higher above the $2,885 level.<\/p>\n

Ethereum is now trading below $2,950 and the 100-hourly Simple Moving Average<\/a>. Immediate resistance is near the $2,900 level. There is also a key bearish trend line forming with resistance at $2,905 on the hourly chart of ETH\/USD. The trend line is close to the 23.6% Fib retracement level of the recent decline from the $2,992 swing high to the $2,860 low.<\/p>\n

An upside break above the trend line might send the price toward the $2,925 level and the 100-hourly Simple Moving Average. The first major resistance is near the $2,940 level or the 61.8% Fib retracement level of the recent decline from the $2,992 swing high to the $2,860 low.<\/p>\n

<\/a><\/p>\n

Source: ETHUSD on TradingView.com<\/a><\/p>\n

The next key resistance sits at $2,950, above which the price might gain traction and rise toward the $3,000 level. If there is a clear move above the $3,000 level, the price might rise and test the $3,050 resistance. Any more gains could send Ether toward the $3,150 resistance zone.<\/p>\n

Another Drop In ETH?<\/h2>\n

If Ethereum fails to clear the $2,925 resistance, it could start another decline. Initial support on the downside is near the $2,880 level.<\/p>\n

The first major support is near the $2,860 zone. The next support is near the $2,810 level. A clear move below the $2,810 support might push the price toward $2,740. Any more losses might send the price toward the $2,650 level in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n

Major Support Level \u2013 $2,860<\/p>\n

Major Resistance Level \u2013 $2,925<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price is eyeing an upside break above the $2,900 level. ETH must settle above $2,900 and $2,940 to continue higher in the near term. Ethereum is forming a base above the $2,860 support zone. The price is trading below $2,950 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":1680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[142,143,141],"class_list":["post-1679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds","tag-bullishsentiment","tag-cryptomarket","tag-ethereumprice"],"yoast_head":"\nEthereum Price Anticipates Upside Break To Shift Sentiment Towards Bullish - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/en\/ethereum-price-anticipates-upside-break-to-shift-sentiment-towards-bullish\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Price Anticipates Upside Break To Shift Sentiment Towards Bullish - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Ethereum price is eyeing an upside break above the $2,900 level. ETH must settle above $2,900 and $2,940 to continue higher in the near term. Ethereum is forming a base above the $2,860 support zone. The price is trading below $2,950 and the 100-hourly Simple Moving Average. 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